X0306 4 2019-05-29 0 0000886163 LIGAND PHARMACEUTICALS INC LGND 0001376960 Aryeh Jason 3911 SORRENTO VALLEY BOULEVARD, STE 110 SAN DIEGO CA 92121 1 0 0 0 Common Stock 2019-05-29 4 P 0 250 111.01 A 59868 D Common Stock 2019-05-30 4 P 0 250 110.01 A 60118 D Common Stock 2019-05-31 4 P 0 500 108.51 A 60618 D Common Stock 51594 I Indirect Common Stock 5025 I by Trust The purchase(s) reported on this Form 4 were made pursuant to a written trading plan adopted by the Reporting Person on March 15, 2019, in accordance with Rule 10b5-1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $108.01 to $109.01, inclusive. The reporting person undertakes to provide, upon request to the Securities Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. All securities disclosed in this Form 4 are owned by certain funds managed by JALAA Equities, LP, JLV Investments, LP and affiliates (the "Funds"). Jason Aryeh is the General Partner of JALAA Equities, LP and a partner of JLV Investments, LP. By reason of the provisions of Rule 16a-1 under the Securities Exchange Act of 1934, as amended, JALAA Equities, LP, JLV Investments, LP and affiliates and Mr. Aryeh may be deemed to be the beneficial owners of the securities beneficially owned by the Funds. By: Charles S. Berkman For: Jason Aryeh 2019-05-31