Joseph Shulman - Feb 9, 2024 Form 4 Insider Report for RHYTHM PHARMACEUTICALS, INC. (RYTM)

Role
Chief Technical Officer
Signature
/s/ Hunter Smith, attorney-in-fact for Joseph Shulman
Stock symbol
RYTM
Transactions as of
Feb 9, 2024
Transactions value $
-$2,200,915
Form type
4
Date filed
2/13/2024, 08:46 PM
Previous filing
Feb 5, 2024
Next filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RYTM Common Stock Options Exercise +2.66K +101.61% 5.27K Feb 9, 2024 Direct F1
transaction RYTM Common Stock Options Exercise $1.48M +69.2K +1312.9% $21.38 74.5K Feb 9, 2024 Direct
transaction RYTM Common Stock Sale -$4.82K -100 -0.13% $48.24 74.4K Feb 9, 2024 Direct F2
transaction RYTM Common Stock Sale -$2.42M -48.2K -64.79% $50.14 26.2K Feb 9, 2024 Direct F2, F4
transaction RYTM Common Stock Sale -$1.19M -23.4K -89.36% $50.88 2.79K Feb 9, 2024 Direct F2, F5
transaction RYTM Common Stock Sale -$5.15K -100 -3.59% $51.52 2.69K Feb 9, 2024 Direct F2
transaction RYTM Common Stock Options Exercise +1.56K +58.15% 4.25K Feb 11, 2024 Direct F1
transaction RYTM Common Stock Sale -$40.6K -791 -18.62% $51.38 3.46K Feb 12, 2024 Direct F3
transaction RYTM Common Stock Sale -$23.6K -473 -13.68% $49.84 2.98K Feb 13, 2024 Direct F3

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 RYTM Restricted Stock Units Options Exercise $0 -2.66K -33.33% $0.00 5.31K Feb 9, 2024 Common Stock 2.66K Direct F1, F6
transaction RYTM Stock Option (right to buy) Options Exercise $0 -69.2K -91.28% $0.00 6.61K Feb 9, 2024 Common Stock 69.2K $21.38 Direct F7
transaction RYTM Restricted Stock Units Options Exercise $0 -1.56K -50% $0.00 1.56K Feb 11, 2024 Common Stock 1.56K Direct F1, F8
* 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 Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.
F2 The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 5, 2023.
F3 The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the vesting of certain previously reported restricted stock units.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at per share prices ranging from $49.47 to $50.46. 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 range set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at per share prices ranging from $50.47 to $51.43. 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 range set forth in this footnote.
F6 The restricted stock units vest or have vested as to 25% of the total shares on each of February 9, 2023, February 9, 2024, February 9, 2025 and February 9, 2026. The restricted stock units have no expiration date.
F7 The stock options were granted on July 27, 2020. 25% of the shares subject to the option vested and became exercisable on July 27, 2021 and the remaining 75% of the shares subject to the option shall vest and become exercisable in 12 substantially equal installments upon the Reporting Person's completion of each three full months of successive service to the Issuer thereafter.
F8 The restricted stock units vest or have vested as to 25% of the total shares on each of February 11, 2022, February 11, 2023, February 11, 2024 and February 11, 2025. The restricted stock units have no expiration date.