William John Sibold - 11 Sep 2023 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role
President and CEO, Director
Signature
/s/ Brian J. Lynch
Issuer symbol
MDGL
Transactions as of
11 Sep 2023
Net transactions value
$0
Form type
4
Filing time
13 Sep 2023, 16:41:14 UTC
Previous filing
13 Sep 2023
Next filing
25 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDGL Common Stock Award $0 +50,000 $0.000000 50,000 11 Sep 2023 Direct F1

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 Award $0 +50,000 $0.000000 50,000 11 Sep 2023 Common Stock 50,000 Direct F2
* 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 September 8, 2024, September 8, 2025, September 8, 2026 and September 8, 2027, provided the Reporting Person continues in service with the Issuer on each such date.
F2 Represents a grant of performance-based restricted stock units, which represent the contingent right to receive a number of shares of the Issuer's common stock that is between 0% and 300% of the target amount of units, depending on the Issuer's achievement of significant sustained stock price appreciation hurdles over a five-year period and which may settle on the 4th, 5th and 6th anniversaries of the grant date, depending on the date of vesting and performance level achieved. The number of shares of common stock reported assumes a target that corresponds to a 100% payout level.

Remarks:

** As attorney-in-fact for Reporting Person