Brian J. Lynch - Dec 4, 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: Dec 4, 2023
Transactions value $: -$388,114
Form type: 4
Date filed: 12/6/2023, 04:30 PM
Previous filing: Dec 1, 2023
Next filing: Jan 18, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MDGL	Common Stock	Options Exercise	$59K	+800	+5.33%	$73.75	15.8K	Dec 4, 2023	Direct	F1
transaction	MDGL	Common Stock	Options Exercise	$87.1K	+1K	+6.33%	$87.09	16.8K	Dec 4, 2023	Direct	F2
transaction	MDGL	Common Stock	Sale	-$173K	-800	-4.76%	$215.73	16K	Dec 4, 2023	Direct
transaction	MDGL	Common Stock	Sale	-$221K	-1K	-6.25%	$221.38	15K	Dec 4, 2023	Direct
transaction	MDGL	Common Stock	Options Exercise	$87.1K	+1K	+6.67%	$87.09	16K	Dec 5, 2023	Direct	F2
transaction	MDGL	Common Stock	Sale	-$227K	-1K	-6.25%	$227.33	15K	Dec 5, 2023	Direct
holding	MDGL	Common Stock						530	Dec 4, 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	-800	-3.81%	$0.00	20.2K	Dec 4, 2023	Common Stock	1K	$73.75	Direct	F1
transaction	MDGL	Stock Option (Right to Buy)	Options Exercise	$0	-1K	-2.22%	$0.00	44K	Dec 4, 2023	Common Stock	1K	$87.09	Direct	F2
transaction	MDGL	Stock Option (Right to Buy)	Options Exercise	$0	-1K	-2.27%	$0.00	43K	Dec 5, 2023	Common Stock	800	$87.09	Direct	F2

* 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 this option represent 800 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	All shares issued pursuant to the exercise of this option represent 2,000 shares underlying an overall option award of 45,000 shares. All exercised options had vested. As to the overall option for 45,000 shares, 25% of the shares underlying the option vested on February 22, 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.

Content

All shares issued pursuant to the exercise of this option represent 800 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.

All shares issued pursuant to the exercise of this option represent 2,000 shares underlying an overall option award of 45,000 shares. All exercised options had vested. As to the overall option for 45,000 shares, 25% of the shares underlying the option vested on February 22, 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.