Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 26, 2022, the Board of Directors (the "Board") and the Compensation Committee (the "Committee") of the Board of Ligand Pharmaceuticals Incorporated (the "Company") approved cash bonus payments for the 2021 fiscal year to be paid to the Company's named executive officers. Bonus payments were based on the Committee's evaluation of performance goals for 2021. Such goals related to the achievement of certain corporate finance and licensing objectives and the advancement of the Company's business.

The 2021 bonuses to be paid to each named executive officer are as follows:

Name and title                                                    2021 Bonus
John L. Higgins, Chief Executive Officer                          $522,438
Matthew W. Foehr, President and Chief Operating Officer           $259,467

Matthew Korenberg, Executive Vice President and Chief Financial $248,649 Officer Charles S. Berkman, Senior Vice President, General Counsel and $203,257 Secretary

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