{"schema_version":"secwatch.filing_event.v1","accession":"0000886163-22-000129","form_type":"8-K","ticker":"LGND","cik":"0000886163","company_name":"LIGAND PHARMACEUTICALS INC","filed_at":"2022-11-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.872974+00:00","generated_at":"2026-06-22T07:28:06.416450+00:00","sec_items":["1.01","2.01","5.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Ligand completes OmniAb spin-off and merger with APAC; new President and CFO appointed","bullets":["Completed separation and merger of OmniAb antibody discovery business with Avista Public Acquisition Corp. II (SPAC) on Nov 1, 2022.","Ligand shareholders received 4.90007 New OmniAb shares per Legacy OmniAb share plus 0.75842 earnout shares.","Post-transaction ownership: Ligand shareholders ~85%, APAC public ~1.1%, sponsor ~13.9% of New OmniAb.","Three directors (Boyce, Cochran, Patel) and COO/General Counsel resigned; Korenberg appointed President/COO, Espinoza appointed CFO.","Adopted amended severance plan and entered change-in-control severance agreements with new executives."],"urls":{"canonical":"https://secwatch.observer/filing/0000886163-22-000129","json":"https://secwatch.observer/filing/0000886163-22-000129.json","markdown":"https://secwatch.observer/filing/0000886163-22-000129.md","text":"https://secwatch.observer/filing/0000886163-22-000129.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/lgnd-20221101.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T07:28:06.416450+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0ec04c95e5","claim":"Sunil Patel resigned as director at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Sarah Boyce, Jennifer Cochran and Sunil Patel each resigned from Ligand’s board of directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"1f6278ac5a","claim":"Octavio Espinoza was appointed as Chief Financial Officer at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Octavio Espinoza , 52, was appointed as Ligand’s Chief Financial Officer, replacing Mr. Korenberg in his roles as principal financial officer and principal accounting officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"2c10957c6a","claim":"Charles Berkman resigned as Senior Vice President, General Counsel and Secretary at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Matthew Foehr and Charles Berkman resigned as Ligand’s President and Chief Operating Officer and Senior Vice President, General Counsel and Secretary, respectively.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Senior Vice President, General Counsel and Secretary"}],"fact_type":"executive_change"},{"claim_id":"5d538c9c1f","claim":"Jennifer Cochran resigned as director at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Sarah Boyce, Jennifer Cochran and Sunil Patel each resigned from Ligand’s board of directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"76c32569c6","claim":"Sarah Boyce resigned as director at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Sarah Boyce, Jennifer Cochran and Sunil Patel each resigned from Ligand’s board of directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"8044eb5cce","claim":"Matthew Korenberg was appointed as President and Chief Operating Officer at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Matthew Korenberg , 47, who until then served as Ligand’s Executive Vice President, Finance and Chief Financial Officer was appointed as Ligand’s President and Chief Operating Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President and Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"92726cecfa","claim":"Matthew Foehr resigned as President and Chief Operating Officer at LIGAND PHARMACEUTICALS INC.","evidence_excerpt":"Matthew Foehr and Charles Berkman resigned as Ligand’s President and Chief Operating Officer and Senior Vice President, General Counsel and Secretary, respectively.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"President and Chief Operating Officer"}],"fact_type":"executive_change"},{"claim_id":"2884909c2c05f8dc298353b9c48d3ba1ec07bad4","claim":"LIGAND PHARMACEUTICALS INC completed a disposition involving New OmniAb, Inc. (formerly Avista Public Acquisition Corp. II) (closed 2022-11-01).","evidence_excerpt":"On November 1, 2022 (the “Distribution Date”), Ligand completed the separation (the “Separation”) of its antibody discovery business and certain related assets and liabilities (the “OmniAb Business”) through a spin-off of Legacy OmniAb to Ligand’s shareholders of record as of October 26, 2022 (the “Record Date”) on a pro rata basis (the “Distribution”) and merger (the “Merger”) of Legacy OmniAb with a wholly owned subsidiary of New OmniAb in a Reverse Morris Trust transaction (collectively, the “Transactions”)","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/886163/000088616322000129/0000886163-22-000129-index.htm","confidence":0.95,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"New OmniAb, Inc. (formerly Avista Public Acquisition Corp. II)"},{"label":"Closing","value":"2022-11-01"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}