Ligand Pharmaceuticals announces departure of President and COO Matthew Korenberg

LIGAND PHARMACEUTICALS INC

Korenberg's employment ends no later than October 31, 2024; he may resign earlier in writing.
Severance includes base salary through termination, 50% of 2024 target bonus, and COBRA coverage through Dec 31, 2024.
Post-termination consulting agreement pays $47,808/mo through Oct 31, 2024, then reduced amounts.
Stock award vesting continues through consulting period; unvested awards through Dec 31, 2025 accelerate on consulting end.
Korenberg can exercise stock awards through March 1, 2026, subject to conditions.

item 5.02

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Departed

Matthew Korenberg

President and Chief Operating Officer

LGND · LIGAND PHARMACEUTICALS INC

Filed: August 2, 2024, 7:59 PM ET

On August 2, 2024, Ligand Pharmaceuticals Incorporated (the “Company”) announced that its President and Chief Operating Officer, Matthew Korenberg, will be departing from the Company.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Korenberg departed as President and Chief Operating Officer at LIGAND PHARMACEUTICALS INC.

Action: will be departing
Role: President and Chief Operating Officer

Exact text from the filing

On August 2, 2024, Ligand Pharmaceuticals Incorporated (the “Company”) announced that its President and Chief Operating Officer, Matthew Korenberg, will be departing from the Company.

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Source: SEC EDGAR

accession 0000886163-24-000064

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