---
schema_version: "secwatch.filing_event.v1"
accession: "0000886163-22-000137"
form_type: "8-K"
ticker: "LGND"
cik: "0000886163"
company_name: "LIGAND PHARMACEUTICALS INC"
filed_at: "2022-12-05T23:59:59+00:00"
generated_at: "2026-06-21T10:00:08.422684+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ligand Pharmaceuticals CEO John Higgins retires; Todd Davis appointed CEO effective Dec 5, 2022

## Summary
- John L. Higgins retired as CEO effective Dec 5, 2022; will resign from board Dec 31; receives 18 months salary, full equity vesting at target, and 2-year option extension.
- Todd C. Davis, a board member, appointed CEO; base salary $650k, target bonus 60% of salary, and 132k stock options vesting over 4 years.
- Davis severance: 18 months salary if terminated without cause pre-change-of-control; 2x salary + 2x max target bonus plus 24 months health if within 24 months post-change-of-control.

## SEC filing metadata
- accession: 0000886163-22-000137
- form_type: 8-K
- ticker: LGND
- cik: 0000886163
- company_name: LIGAND PHARMACEUTICALS INC
- filed_at: 2022-12-05T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886163/000088616322000137/0000886163-22-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886163/000088616322000137/lgnd-20221205.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000886163-22-000137
- JSON: https://secwatch.observer/filing/0000886163-22-000137.json
- Plain text: https://secwatch.observer/filing/0000886163-22-000137.txt

## Key facts
- Executive change
  John L. Higgins resigned as Member of the Board at LIGAND PHARMACEUTICALS INC.
  - Action: resigned
  - Role: Member of the Board
  source text: Mr. Higgins also resigned as a member of the Board, effective December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616322000137/0000886163-22-000137-index.htm
- Executive change
  John L. Higgins retired as Chief Executive Officer at LIGAND PHARMACEUTICALS INC.
  - Action: retired
  - Role: Chief Executive Officer
  source text: John L. Higgins has retired as Chief Executive Officer of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616322000137/0000886163-22-000137-index.htm
- Executive change
  Todd C. Davis was appointed as Chief Executive Officer at LIGAND PHARMACEUTICALS INC.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Todd C. Davis was appointed Chief Executive Officer of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616322000137/0000886163-22-000137-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.