Madrigal (MDGL) director receives stock grants and 681-share option award

Rhea-AI Filing Summary

Madrigal Pharmaceuticals director Daniel J. Brennan reported equity compensation awards. He received 404 shares of Common Stock as restricted stock units and a stock option for 681 shares at an exercise price of $499.86 per share. Both awards vest in full on the earlier of June 17, 2027 or the company’s 2027 annual stockholder meeting, if he remains in service. After these grants, Brennan directly holds 1,371 Common shares and 681 option shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Brennan Daniel J.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	681	$0.00	--
Grant/Award	Common Stock	404	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 681 shares (Direct, null); Common Stock — 1,371 shares (Direct, null)

Footnotes (1)

1. Represents a grant of restricted stock units which vest on the earlier of (i) June 17, 2027 and (ii) the date of the Issuer's annual meeting of stockholders to be held in 2027, provided the Reporting Person continues in service with the Issuer on such date. The option vests as to 100% of underlying shares on the earlier of (i) June 17, 2027 and (ii) the date of the Issuer's annual meeting of stockholders to be held in 2027, provided the Reporting Person continues in service with the Issuer on such date.

Key Figures

Restricted stock units granted: 404 shares Stock options granted: 681 shares Option exercise price: $499.86 per share +3 more

6 metrics

Restricted stock units granted 404 shares Common Stock RSU grant on June 17, 2026

Stock options granted 681 shares Stock Option (Right to Buy) granted on June 17, 2026

Option exercise price $499.86 per share Conversion or exercise price for 681-share option

Common shares after grant 1,371 shares Total Madrigal common stock directly held after transactions

Option expiration date June 17, 2036 Expiration of 681-share stock option position

Vesting trigger date June 17, 2027 Earlier of this date or 2027 annual meeting for full vesting

Key Terms

restricted stock units, Stock Option (Right to Buy), exercise price, expiration date

4 terms

restricted stock units financial

"Represents a grant of restricted stock units which vest on the earlier of (i) June 17, 2027 and (ii) the date of the Issuer's annual meeting of stockholders to be held in 2027"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy) with 681.0000 shares and a conversion or exercise price of 499.8600"

exercise price financial

"conversion_or_exercise_price: "499.8600" for the Stock Option (Right to Buy)"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

expiration date financial

"expiration_date: "2036-06-17T00:00:00.000Z" for the Stock Option (Right to Buy)"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Brennan Daniel J.

(Last) (First) (Middle)

C/O MADRIGAL PHARMACEUTICALS, INC.

200 BARR HARBOR DRIVE, SUITE 200

(Street)

WEST CONSHOHOCKEN PENNSYLVANIA 19428

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MADRIGAL PHARMACEUTICALS, INC. [ MDGL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/17/2026		A(1)		404	A	$0	1,371	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$499.86	06/17/2026		A		681		(2)	06/17/2036	Common Stock	681	$0	681	D

Explanation of Responses:

1. Represents a grant of restricted stock units which vest on the earlier of (i) June 17, 2027 and (ii) the date of the Issuer's annual meeting of stockholders to be held in 2027, provided the Reporting Person continues in service with the Issuer on such date.

2. The option vests as to 100% of underlying shares on the earlier of (i) June 17, 2027 and (ii) the date of the Issuer's annual meeting of stockholders to be held in 2027, provided the Reporting Person continues in service with the Issuer on such date.

Remarks:

	/s/ Mardi Dier, as Attorney-in-Fact	06/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Daniel J. Brennan report for MDGL on this Form 4?

Daniel J. Brennan reported two equity compensation grants: 404 shares of Madrigal Pharmaceuticals common stock as restricted stock units and a stock option covering 681 shares, both awarded at no cash cost to him on June 17, 2026.

How many Madrigal Pharmaceuticals (MDGL) shares did Brennan receive and now hold?

Brennan received 404 new common shares through restricted stock units and now directly holds 1,371 Madrigal Pharmaceuticals common shares in total, as reflected after the reported transactions in this Form 4 filing with the SEC.

What are the terms of Daniel Brennan’s new MDGL stock option grant?

The new stock option covers 681 shares of Madrigal common stock at an exercise price of $499.86 per share and expires on June 17, 2036, contingent on the vesting schedule described in the Form 4 footnotes.

When do Daniel Brennan’s MDGL restricted stock units and options vest?

Both the 404-share restricted stock unit grant and the 681-share stock option vest 100% on the earlier of June 17, 2027 or Madrigal’s 2027 annual meeting, provided Brennan continues in service with the company through that vesting date.

Is Daniel Brennan’s MDGL Form 4 transaction a market purchase or sale?

The Form 4 shows grant or award acquisitions, not open-market trades. Brennan did not buy or sell shares on the market; he received restricted stock units and stock options as compensation, at a reported price of $0.00 per share for the grants.