Paul A. Friedman - Jul 16, 2025 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role
Director
Signature
/s/ Mardi Dier, as Attorney-in-Fact
Stock symbol
MDGL
Transactions as of
Jul 16, 2025
Transactions value $
-$9,925,966
Form type
4
Date filed
7/18/2025, 04:13 PM
Previous filing
Jun 24, 2025
Next filing
Jul 22, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
FRIEDMAN PAUL A Director C/O MADRIGAL PHARMACEUTICALS, INC., 200 BARR HARBOR DRIVE, SUITE 400, WEST CONSHOHOCKEN /s/ Mardi Dier, as Attorney-in-Fact 2025-07-18 0001236927

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDGL Common Stock Options Exercise $247K +26.2K +13.99% $9.45 213K Jul 16, 2025 Direct
transaction MDGL Common Stock Sale -$1.94M -5.54K -2.6% $350.17 208K Jul 16, 2025 Direct F1, F2
transaction MDGL Common Stock Sale -$833K -2.37K -1.14% $351.38 205K Jul 16, 2025 Direct F1, F3
transaction MDGL Common Stock Sale -$744K -2.11K -1.03% $352.67 203K Jul 16, 2025 Direct F1, F4
transaction MDGL Common Stock Sale -$821K -2.32K -1.14% $353.82 201K Jul 16, 2025 Direct F1, F5
transaction MDGL Common Stock Sale -$2.43M -6.85K -3.41% $354.65 194K Jul 16, 2025 Direct F1, F6
transaction MDGL Common Stock Sale -$2.06M -5.78K -2.98% $355.61 188K Jul 16, 2025 Direct F1, F7
transaction MDGL Common Stock Sale -$428K -1.2K -0.64% $356.62 187K Jul 16, 2025 Direct F1, F8
transaction MDGL Common Stock Options Exercise $25.5K +2.7K +1.44% $9.45 190K Jul 17, 2025 Direct
transaction MDGL Common Stock Sale -$700K -2K -1.05% $350.10 188K Jul 17, 2025 Direct F1, F9
transaction MDGL Common Stock Sale -$246K -700 -0.37% $351.57 187K Jul 17, 2025 Direct F1, F10
holding MDGL Common Stock 656K Jul 16, 2025 By SQN LLC F11

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 -26.2K -12.69% $0.00 180K Jul 16, 2025 Common Stock 26.2K $9.45 Direct F12
transaction MDGL Stock Option (Right to Buy) Options Exercise $0 -2.7K -1.5% $0.00 177K Jul 17, 2025 Common Stock 2.7K $9.45 Direct F12
* 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 March 14, 2025.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $350.00 to $350.79, 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 $351.01 to $352.00, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $352.09 to $352.98, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $353.12 to $354.08, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $354.13 to $355.12, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $355.13 to $356.11, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $356.18 to $357.00, inclusive.
F9 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $350.00 to $350.61, inclusive.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $351.17 to $352.00, inclusive.
F11 The Reporting Person and his spouse are each managing members of SQN, LLC. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his 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.
F12 The shares underlying this stock option are fully vested and exercisable.