[144] Madrigal Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Madrigal Pharmaceuticals (MDGL) filed a Form 144 reporting a proposed sale of 10,000 common shares through Morgan Stanley Smith Barney on 08/15/2025 on NASDAQ with an aggregate market value of $3,652,008.00. The filer states the shares were acquired the same day by exercise of options under a registered plan and paid in cash. The filing reports 22,289,014 shares outstanding, and shows no securities sold by the filer in the past three months. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information.

Positive

• Complete compliance details are provided: broker, acquisition method (option exercise), payment in cash, and planned sale date
• No sales in past three months reported for the filer, indicating this is not part of a recent selling pattern
• Filer attestation states no undisclosed material adverse information, meeting Rule 144 representations

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider exercised options and intends to sell 10,000 shares; transaction size is small relative to total shares outstanding.

The filing documents a routine Rule 144 notice for an insider sale executed via a broker, with acquisition by option exercise and cash payment on the same date as the planned sale. At 10,000 shares versus 22,289,014 outstanding, the sale represents approximately 0.045% of outstanding shares, indicating limited direct dilution or market impact. No prior sales in the past three months were reported, and the disclosure includes the standard attestation about undisclosed material adverse information.

Corporate Governance Expert

TL;DR: Filing follows regulatory requirements; documentation of exercise and broker details supports compliance with Rule 144.

The notice provides the key compliance elements: broker identification, source of shares (option exercise under a registered plan), payment method (cash), and attestation regarding material non-public information. These items support procedural transparency for an insider sale. The filing does not disclose any trading plan adoption date or other governance changes, and it reports no recent sales by the filer.

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	10000	3652008.00	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			10000	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 does MDGL report for sale on the Form 144?

The filer reports the proposed sale of 10,000 common shares of Madrigal Pharmaceuticals (MDGL).

When and where is the MDGL sale planned to occur?

The planned sale date is 08/15/2025 and the shares are to be sold on NASDAQ through Morgan Stanley Smith Barney.

How were the shares 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.

What is the aggregate market value and how many shares outstanding are reported?

Aggregate market value is reported as $3,652,008.00 with 22,289,014 shares outstanding.

Did the filer sell any MDGL securities in the past three months?

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