Rebecca Taub - Jan 23, 2024 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Signature
/s/ Brian J. Lynch**
Stock symbol
MDGL
Transactions as of
Jan 23, 2024
Transactions value $
$0
Form type
4
Date filed
1/25/2024, 05:54 PM
Previous filing
Jan 18, 2024
Next filing
Apr 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDGL Common Stock Award $0 +5.79K +38.57% $0.00 20.8K Jan 23, 2024 Direct F1, F2
holding MDGL Common Stock 438K Jan 23, 2024 Direct
holding MDGL Common Stock 656K Jan 23, 2024 By SQN, LLC F3

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) Award $0 +8.72K $0.00 8.72K Jan 23, 2024 Common Stock 8.72K $229.00 Direct F4
transaction MDGL Market Stock Unit Award $0 +5.79K $0.00 5.79K Jan 23, 2024 Common Stock 5.79K Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a grant of restricted stock units, which vest as to 25% of the shares on each of January 23, 2025, January 23, 2026, January 23, 2027 and January 23, 2028, provided the Reporting Person continues in service with the Issuer on each such date.
F2 Represents restricted stock units granted to the Reporting Person on January 16, 2023 and January 23, 2024.
F3 The Reporting Person and her spouse are each managing members of SQN, LLC. The Reporting Person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of the beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F4 The option vests as to 25% of the shares on the first anniversary of the date of grant (January 23, 2025) and, thereafter, 6.25% of the shares shall 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.
F5 Each market stock unit, which is performance-based, represents the contingent right to receive one share of common stock. The amount reported represents the target number of shares which may be issued upon vesting. The market stock units will vest upon certification concerning the Company's stock price performance measured against biotechnology stock index companies for the entire performance period ending December 31, 2026.

Remarks:

**As attorney-in-fact for Reporting Person