Ligand Pharma (LGND) has provided an announcement.
Ligand Pharmaceuticals has announced that its President and COO, Matthew Korenberg, will leave the company by October 31, 2024. He will receive his due salary, a portion of his target bonus, and COBRA payments upon departure. Furthermore, Korenberg will serve as a consultant for Ligand after his exit, with a compensation structure that adjusts based on his employment status. His stock awards will continue to vest during the consulting period, with an acceleration of vesting on the consulting end date, and he will retain the option to exercise his stock awards until March 2026, under specified conditions.
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