Madrigal (MDGL) Rule 144 Notice: 2,000 Shares Via Morgan Stanley

Rhea-AI Filing Summary

Madrigal Pharmaceuticals (MDGL) Form 144 filing shows a proposed sale of 2,000 common shares to be executed through Morgan Stanley Smith Barney on 08/18/2025 with an aggregate market value of $764,481.20. The filer states these 2,000 shares were acquired the same day by exercise of options under a registered plan and paid in cash. The filing also discloses that the same person sold 4,100 shares on 08/15/2025 for gross proceeds of $1,503,481.48. The filer signs a representation that they are unaware of any undisclosed material adverse information about the issuer.

Positive

• Full Rule 144 disclosure provided with broker, quantities, prices, acquisition method, and prior three-month sales
• Acquisition method disclosed as exercise of options under a registered plan and sale consideration specified as cash
• Filer attestation that they do not possess undisclosed material adverse information

Negative

• Insider sales disclosed: 4,100 shares sold on 08/15/2025 and 2,000 shares proposed for sale on 08/18/2025, which may concern some investors
• No issuer operating or financial details are included in the filing, so it does not provide context for the transactions

Insights

Securities Analyst

TL;DR: Routine insider sale following option exercise; disclosure complies with Rule 144 requirements.

The filing documents a planned sale of 2,000 common shares of Madrigal acquired by exercise of options on the same date and to be sold through Morgan Stanley Smith Barney on 08/18/2025 for an aggregate market value of $764,481.20. The filer also reported a recent sale of 4,100 shares on 08/15/2025 generating $1,503,481.48. This is a straightforward Rule 144 notice that provides required transaction timing, consideration (cash), and broker details. No earnings or other issuer-specific operating data are included in the filing.

Corporate Governance Expert

TL;DR: Disclosure is complete for Rule 144 purposes and includes the seller's attestation about material nonpublic information.

The document supplies the necessary specifics: class of security, broker name and address, number of shares to be sold, aggregate market value, outstanding shares, acquisition date and method (exercise of options), and prior sales in the last three months. The filer affirms no knowledge of undisclosed material adverse information and highlights compliance with Rule 144 procedures. The filing does not provide issuer financials or context beyond transaction-level details.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	2000	764481.20	22289014	08/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/18/2025	Exercise of options under a registered plan	Issuer			2000	08/18/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
FRED CRAVES 200 Barr Harbor Drive Suite 200 West Conshohocken PA 19428	Common	08/15/2025	4100	1503481.48

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the MDGL Form 144 report disclose?

The filing discloses a proposed sale of 2,000 common shares through Morgan Stanley Smith Barney on 08/18/2025 with an aggregate market value of $764,481.20, and a prior sale of 4,100 shares on 08/15/2025 for $1,503,481.48.

How were the 2,000 shares acquired according to the filing?

The 2,000 shares were acquired on 08/18/2025 by exercise of options under a registered plan, and payment for the sale is noted as cash.

Which broker is handling the proposed sale for MDGL shares?

The proposed sale is to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.

Does the filer state they have material nonpublic information about Madrigal?

The filer represents in the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.

What were the gross proceeds from the recent sale reported in the filing?

The recent sale of 4,100 shares on 08/15/2025 generated gross proceeds of $1,503,481.48.