William John Sibold - 03 Dec 2025 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role: President and CEO, Director
Signature: /s/ Mardi Dier, as Attorney-in-Fact
Issuer symbol: MDGL
Transactions as of: 03 Dec 2025
Transactions value $: -$1,380,816
Form type: 4
Filing time: 04 Dec 2025, 17:26:58 UTC
Previous filing: 09 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Sibold William John	President and CEO, Director	C/O MADRIGAL PHARMACEUTICALS, INC., 200 BARR HARBOR DRIVE, SUITE 200, WEST CONSHOHOCKEN	/s/ Mardi Dier, as Attorney-in-Fact	04 Dec 2025	0001518611

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MDGL	Common Stock	Options Exercise		+50K	+48.79%		152K	03 Dec 2025	Direct	F1
transaction	MDGL	Common Stock	Sale	-$1.38M	-2.4K	-1.57%	$575.34	150K	04 Dec 2025	Direct	F2

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	Performance Restricted Stock Units	Options Exercise		-50K	-100%		0	03 Dec 2025	Common Stock	50K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	On December 3, 2025, the Reporting Person earned 50,000 shares of common stock following the achievement of the performance and service conditions of the Performance Restricted Stock Units described in Footnote 3. Pursuant to the terms of the award, certain of these shares were sold to cover certain tax withholding obligations as described in Footnote 2 below. The Issuer is irrevocably obligated to issue the remaining shares to the Reporting Person on September 8, 2028, the fifth anniversary of the commencement of his employment with the Issuer.
F2	The sale reported on this line represents the number of shares sold by the Issuer on behalf of the Reporting Person to cover certain tax withholding obligations in connection with the Reporting Person earning 50,000 shares of common stock as described in Footnote 1 above. This sale was automatic and not at the discretion of the Reporting Person.
F3	On September 11, 2023, the Reporting Person was granted a one-time sign-on award of Performance Restricted Stock Units with a target award of 50,000 shares of common stock that can be earned upon the achievement of significant sustained stock price appreciation hurdles over a five-year period. The Reporting Person can earn up to 300% of the target award. Following the achievement of the first hurdle in February 2025 and the second hurdle reported on this line, the Reporting Person is eligible to earn an additional 50,000 shares upon the achievement of the final performance hurdle. See the Issuer's Schedule 14A filed with the Securities and Exchange Commission on April 29, 2024 for additional information about the Performance Restricted Stock Units.