Brian J. Lynch - Nov 29, 2023 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role: SVP and General Counsel
Signature: /s/ Brian J. Lynch
Stock symbol: MDGL
Transactions as of: Nov 29, 2023
Transactions value $: -$894,230
Form type: 4
Date filed: 12/1/2023, 04:30 PM
Previous filing: Jan 18, 2023
Next filing: Dec 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MDGL	Common Stock	Options Exercise	$295K	+4K	+26.66%	$73.75	19K	Nov 29, 2023	Direct	F1
transaction	MDGL	Common Stock	Sale	-$198K	-1K	-5.26%	$198.40	18K	Nov 29, 2023	Direct
transaction	MDGL	Common Stock	Sale	-$598K	-3K	-16.67%	$199.45	15K	Nov 29, 2023	Direct	F2
transaction	MDGL	Common Stock	Options Exercise	$221K	+3K	+20%	$73.75	18K	Nov 30, 2023	Direct
transaction	MDGL	Common Stock	Sale	-$204K	-1K	-5.56%	$204.00	17K	Nov 30, 2023	Direct
transaction	MDGL	Common Stock	Sale	-$203K	-1K	-5.88%	$203.00	16K	Nov 30, 2023	Direct
transaction	MDGL	Common Stock	Sale	-$207K	-1K	-6.25%	$206.73	15K	Nov 30, 2023	Direct
holding	MDGL	Common Stock						530	Nov 29, 2023	In IRA

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MDGL	Stock Option (Right to Buy)	Options Exercise	$0	-4K	-16%	$0.00	21K	Nov 29, 2023	Common Stock	4K	$73.75	Direct	F1
transaction	MDGL	Stock Option (Right to Buy)	Options Exercise	$0	-3K	-14.29%	$0.00	18K	Nov 30, 2023	Common Stock	3K	$73.75	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	All shares issued pursuant to the exercise of the options reported herein represent 7,000 shares underlying an overall option award of 25,000 shares. All exercised options had vested. As to the overall option for 25,000 shares, 25% of the shares underlying the option vested on August 10, 2023 and, thereafter, 6.25% of the shares vested, or will vest, on the last day of each successive three-month period, provided the Reporting Person continues in service with the Issuer on each such date.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.25 to $199.59, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote

Content

All shares issued pursuant to the exercise of the options reported herein represent 7,000 shares underlying an overall option award of 25,000 shares. All exercised options had vested. As to the overall option for 25,000 shares, 25% of the shares underlying the option vested on August 10, 2023 and, thereafter, 6.25% of the shares vested, or will vest, on the last day of each successive three-month period, provided the Reporting Person continues in service with the Issuer on each such date.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.25 to $199.59, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote