---
schema_version: "secwatch.filing_event.v1"
accession: "0000886163-24-000064"
form_type: "8-K"
ticker: "LGND"
cik: "0000886163"
company_name: "LIGAND PHARMACEUTICALS INC"
filed_at: "2024-08-02T23:59:59+00:00"
generated_at: "2026-05-31T13:34:07.709410+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ligand Pharmaceuticals announces departure of President and COO Matthew Korenberg

## Summary
- 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.

## SEC filing metadata
- accession: 0000886163-24-000064
- form_type: 8-K
- ticker: LGND
- cik: 0000886163
- company_name: LIGAND PHARMACEUTICALS INC
- filed_at: 2024-08-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886163/000088616324000064/0000886163-24-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886163/000088616324000064/lgnd-20240802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000886163-24-000064
- JSON: https://secwatch.observer/filing/0000886163-24-000064.json
- Plain text: https://secwatch.observer/filing/0000886163-24-000064.txt

## Key facts
- Executive change
  Matthew Korenberg departed as President and Chief Operating Officer at LIGAND PHARMACEUTICALS INC.
  - Action: will be departing
  - Role: President and Chief Operating Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/886163/000088616324000064/0000886163-24-000064-index.htm

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