Madrigal (MDGL) Insider Sale: 4,100 Shares via Morgan Stanley ($1.5M)

Rhea-AI Filing Summary

Madrigal Pharmaceuticals (MDGL) reported a Form 144 notice for the proposed sale of 4,100 shares of common stock through Morgan Stanley Smith Barney LLC on 08/15/2025. The filing lists an aggregate market value of $1,503,481.48 based on the transaction and shows 22,289,014 shares outstanding for the issuer. The shares were acquired and are being sold on the same date by exercise of options under a registered plan and payment was made in cash. The filer reports nothing to report for securities sold during the past three months and includes the standard attestation that the seller is not aware of undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Routine insider sale following option exercise; small in scale relative to outstanding shares, likely neutral.

The filing documents a sale of 4,100 shares executed through a broker after exercising options under a registered plan and paid in cash. The aggregate value shown is $1,503,481.48 versus 22,289,014 shares outstanding, representing roughly 0.018% of outstanding stock, indicating this is a modest transaction with limited potential impact on market supply or control metrics. The filer states no other sales in the prior three months and makes the standard attestation about undisclosed material adverse information.

Corporate Governance Specialist

TL;DR: Compliance-focused disclosure of an option exercise followed by a sale; appears procedural and compliant with Rule 144.

The notice shows acquisition by exercise of options under a registered plan and immediate proposed sale through an institutional broker, which is consistent with routine secondary-market liquidity events by insiders or option holders. The inclusion of the broker name and the explicit 'nothing to report' for prior three months supports transparency. There are no indications in the filing of any material governance or disclosure issues.

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	4100	1503481.48	22289014	08/15/2025	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	08/15/2025	Exercise of options under a registered plan	Issuer			4100	08/15/2025	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

Nothing to Report

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 securities did Madrigal Pharmaceuticals (MDGL) propose to sell in the Form 144?

The filer proposed to sell 4,100 shares of Madrigal Pharmaceuticals common stock.

When is the approximate date of the proposed sale in the Form 144 for MDGL?

The approximate date of sale listed is 08/15/2025.

Through which broker is the MDGL sale being proposed?

The broker named is Morgan Stanley Smith Barney LLC (Executive Financial Services, New York address provided).

How were the shares being sold acquired according to the filing?

The shares were acquired on 08/15/2025 by exercise of options under a registered plan and payment was made in cash.

Does the filing report any other securities sold in the past three months for the account?

The filing states Nothing to Report for securities sold during the past three months.