Rebecca Taub - Apr 8, 2024 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role
Pres., R&D, and CMO, Director
Signature
/s/ Mardi Dier, as Attorney-in-Fact
Stock symbol
MDGL
Transactions as of
Apr 8, 2024
Transactions value $
-$632,969
Form type
4
Date filed
4/10/2024, 08:53 PM
Previous filing
Apr 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDGL Common Stock Options Exercise $25.3K +2.68K +0.58% $9.45* 462K Apr 8, 2024 Direct
transaction MDGL Common Stock Sale -$54.5K -224 -0.05% $243.25 461K Apr 8, 2024 Direct F1, F2
transaction MDGL Common Stock Sale -$231K -945 -0.2% $244.79 461K Apr 8, 2024 Direct F1, F3
transaction MDGL Common Stock Sale -$73.7K -300 -0.07% $245.69 460K Apr 8, 2024 Direct F1, F4
transaction MDGL Common Stock Sale -$148K -600 -0.13% $246.98 460K Apr 8, 2024 Direct F1, F5
transaction MDGL Common Stock Sale -$101K -407 -0.09% $247.76 459K Apr 8, 2024 Direct F1, F6
transaction MDGL Common Stock Sale -$49.7K -200 -0.04% $248.58 459K Apr 8, 2024 Direct F1, F7
holding MDGL Common Stock 656K Apr 8, 2024 By SQN LLC F8

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 -2.68K -3.38% $0.00 76.6K Apr 8, 2024 Common Stock 2.68K $9.45 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 These sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 27, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $243.12 to $243.40, 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 and the footnotes below.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $244.37 to $245.24, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $245.38 to $246.13, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $246.50 to $247.25, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $247.56 to $248.5150, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $248.57 to $248.59, inclusive.
F8 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.
F9 The shares underlying this stock option are fully vested and exercisable.