Madrigal director proposes sale of 50,000 shares

The shares are listed as acquired from the issuer through option exercise, and the reported sales are described as automatic under a plan adopted August 28, 2026.

Rhea-AI Filing Summary

Madrigal Pharmaceuticals, Inc. (MDGL) director Paul Friedman reported a proposed sale of 50,000 common shares, with an aggregate market value of $25,828,000 and an approximate sale date of September 28, 2026. The shares are listed as acquired from the issuer through exercise of stock options, with cash payment, on September 28, 2026. The sale is reported as occurring automatically under a Rule 10b5-1 trading plan Paul Friedman adopted on August 28, 2026.

Key Figures

Common shares reported for sale: 50,000 shares Aggregate market value: $25,828,000 Shares outstanding: 23,104,126 shares

3 metrics

Common shares reported for sale 50,000 shares Approximate sale date: September 28, 2026

Aggregate market value $25,828,000 Shares reported for sale

Shares outstanding 23,104,126 shares Issuer securities information

Key Terms

Rule 144, Rule 10b5-1 trading plan, Exercise of Stock Options

3 terms

Rule 144 regulatory

"definition of "person" in paragraph (a) of Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Rule 10b5-1 trading plan regulatory

"sales occur automatically pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Exercise of Stock Options financial

"Exercise of Stock Options"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MDGL shares did Paul Friedman report for sale?

Paul Friedman reported 50,000 MDGL common shares for sale, with an aggregate market value of $25,828,000 and an approximate sale date of September 28, 2026. The remarks describe sales as automatic under a Rule 10b5-1 plan adopted August 28, 2026.

How were the shares in Paul Friedman's MDGL sale acquired?

The 50,000 common shares are listed as acquired from the issuer through exercise of stock options, with cash payment. The acquisition date is September 28, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/28/2026 - 04:20 PM Accepted by SEC EDGAR 09/28/2026 - 04:19 PM Learn about SEC filing dates

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	0001236927
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	MADRIGAL PHARMACEUTICALS, INC.
SEC File Number	001-33277
Address of Issuer	1001 Conshohocken State Road Suite 2-350 West Conshohocken PENNSYLVANIA 19428
Phone	2678242827
Name of Person for Whose Account the Securities are To Be Sold	PAUL FRIEDMAN
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	Director

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	50000	25828000.00	23104126	09/28/2026	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	09/28/2026	Exercise of Stock Options	Issuer			50000	09/28/2026	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

Nothing to Report

144: Remarks and Signature

Remarks	The reported sales occur automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 8/28/2026.
Date of Notice	09/28/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	08/28/2026
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	/s/ Paul Friedman
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)