Paul A. Friedman - 09 Jan 2026 Form 4 Insider Report for MADRIGAL PHARMACEUTICALS, INC. (MDGL)

Reporting relationship: Director
Issuer ticker: MDGL
Reported as of: 09 Jan 2026
Net transaction value: -$149,924
SEC form: 4
Accepted by SEC: 13 Jan 2026, 16:47:17 UTC
Prior SEC filing: 12 Dec 2025
Next SEC filing: 10 Jun 2026
Source filing: View source filing
Reporting owner signature: /s/ Mardi Dier, as Attorney-in-Fact

Key filing fact

Paul A. Friedman filed Form 4 for MADRIGAL PHARMACEUTICALS, INC. (MDGL) on 13 Jan 2026.

Key facts

This page summarizes Paul A. Friedman's Form 4 filing for MADRIGAL PHARMACEUTICALS, INC. (MDGL).
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 13 Jan 2026, 16:47.

Change

Previous filing in this sequence was filed on 12 Dec 2025.
Current net transaction value: -$149,924.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001236927 Primary reporting owner

FRIEDMAN PAUL A

Relationship: Director
Address: C/O MADRIGAL PHARMACEUTICALS, INC., 200 BARR HARBOR DRIVE, SUITE 400, WEST CONSHOHOCKEN
Signature: /s/ Mardi Dier, as Attorney-in-Fact
Signature date: 13 Jan 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MDGL transaction

Common Stock

Options Exercise

Transaction value: $4,424
Shares: +280
Change %: +0.15%
Price: $15.80
Shares after: 187,444
Date: 09 Jan 2026
Ownership: Direct

MDGL transaction

Common Stock

Sale

Transaction value: $154,348
Shares: -280
Change %: -0.15%
Price: $551.24
Shares after: 187,164
Date: 09 Jan 2026
Ownership: Direct
Footnotes: F1, F2

MDGL holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 655,540
Date: 09 Jan 2026
Ownership: By SQN LLC
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MDGL transaction Derivative

Stock Option (Right to Buy)

Options Exercise

Transaction value: $0
Shares: -280
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 09 Jan 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 280
Exercise price: $15.80
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 4 footnotes

Footnote F1

These sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2025.

Footnote F2

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.24 to $551.25, 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 range set forth in this footnote.

Footnote F3

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.

Footnote F4

The shares underlying this stock option are fully vested and exercisable.