M.D. Paul A Friedman - 08 Apr 2024 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Role
Director
Signature
/s/ Mardi Dier, as Attorney-in-Fact
Issuer symbol
MDGL
Transactions as of
08 Apr 2024
Net transactions value
-$6,219,239
Form type
4
Filing time
10 Apr 2024, 20:50:27 UTC
Previous filing
05 Apr 2024
Next filing
18 Jun 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 Options Exercise $248,252 +26,270 +14% $9.45* 212,005 08 Apr 2024 Direct
transaction MDGL Common Stock Sale $350,094 -1,441 -0.68% $242.95 210,564 08 Apr 2024 Direct F1, F2
transaction MDGL Common Stock Sale $910,566 -3,730 -1.8% $244.12 206,834 08 Apr 2024 Direct F1, F3
transaction MDGL Common Stock Sale $1,386,646 -5,663 -2.7% $244.86 201,171 08 Apr 2024 Direct F1, F4
transaction MDGL Common Stock Sale $510,591 -2,078 -1% $245.71 199,093 08 Apr 2024 Direct F1, F5
transaction MDGL Common Stock Sale $1,241,710 -5,028 -2.5% $246.96 194,065 08 Apr 2024 Direct F1, F6
transaction MDGL Common Stock Sale $858,241 -3,464 -1.8% $247.76 190,601 08 Apr 2024 Direct F1, F7
transaction MDGL Common Stock Sale $1,209,642 -4,866 -2.6% $248.59 185,735 08 Apr 2024 Direct F1, F8
holding MDGL Common Stock 655,540 08 Apr 2024 By SQN LLC F9

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 -26,270 -11% $0.000000 206,256 08 Apr 2024 Common Stock 26,270 $9.45 Direct F10
* 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 $242.39 to $243.33, 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 $243.43 to $244.42, inclusive.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $244.43 to $245.42, inclusive.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $245.43 to $246.28, inclusive.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $246.45 to $247.43, inclusive.
F7 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $247.47 to $248.24, inclusive.
F8 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $248.47 to $248.64, inclusive.
F9 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.
F10 The shares underlying this stock option are fully vested and exercisable.