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  4. [Form 4] MADRIGAL PHARMACEUTICALS, INC. Insider Trading Activity

Madrigal CEO sells 11,583 shares in plan trades

Madrigal’s CEO reported 11,583 MDGL shares sold in September 2026, including tax-withholding sales and trades under a pre-arranged Rule 10b5-1 plan.

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Form Type
4

Rhea-AI Filing Summary

MADRIGAL PHARMACEUTICALS, INC. (MDGL) reported that President and CEO William John Sibold sold 11,583 shares of common stock in 24 open-market transactions on September 9 and 11, 2026. Sales on September 9 were made by the issuer on his behalf to cover tax withholding from vesting restricted stock units, and were automatic. Sales on September 11 were effected automatically pursuant to a Rule 10b5-1 trading plan adopted on June 5, 2026.

Insider Sibold William John
Role President and CEO
Sold 11,583 shs ($6.24M)
Type Security Shares Price Value
Sale Common Stock F16, F17 60 $533.0913 $32K
Sale Common Stock F16, F18 106 $534.063 $57K
Sale Common Stock F16, F19 218 $535.9435 $117K
Sale Common Stock F16, F20 160 $537.6175 $86K
Sale Common Stock F16, F21 687 $540.5857 $371K
Sale Common Stock F16, F22 368 $541.6423 $199K
Sale Common Stock F16, F23 1,202 $542.6032 $652K
Sale Common Stock F16, F24 1,539 $544.024 $837K
Sale Common Stock F16, F25 761 $544.8307 $415K
Sale Common Stock F16, F26 120 $546.3767 $66K
Sale Common Stock F1, F2 131 $527.8783 $69K
Sale Common Stock F1, F3 347 $529.2671 $184K
Sale Common Stock F1, F4 522 $530.2311 $277K
Sale Common Stock F1, F5 368 $531.9897 $196K
Sale Common Stock F1, F6 512 $533.0932 $273K
Sale Common Stock F1, F7 396 $534.1964 $212K
Sale Common Stock F1, F8 644 $535.2719 $345K
Sale Common Stock F1, F9 1,040 $536.1123 $558K
Sale Common Stock F1, F10 640 $537.1738 $344K
Sale Common Stock F1, F11 520 $538.2971 $280K
Sale Common Stock F1, F12 215 $539.0281 $116K
Sale Common Stock F1, F13 505 $540.1909 $273K
Sale Common Stock F1, F14 362 $541.6538 $196K
Sale Common Stock F1, F15 160 $542.5475 $87K
Holdings After Transaction: Common Stock — 197,746 shares (Direct)
Footnotes (26)
  1. F1. This sale represents the number of shares sold by the Issuer on behalf of the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale was automatic and not at the discretion of the Reporting Person.
  2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.49 to $528.27, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and the footnotes below.
  3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.54 to $529.51, inclusive.
  4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.64 to $530.48, inclusive.
  5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $531.57 to $532.28, inclusive.
  6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.57 to $533.29, inclusive.
  7. F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.58 to $534.57, inclusive.
  8. F8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.63 to $535.62, inclusive.
  9. F9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.64 to $536.45, inclusive.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.64 to $537.56, inclusive.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.70 to $538.65, inclusive.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $538.86 to $539.83, inclusive.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.86 to $540.47, inclusive.
  14. F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.29 to $542.27, inclusive.
  15. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.42 to $542.68, inclusive.
  16. F16. These sales were effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 5, 2026.
  17. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.76 to $533.64, inclusive.
  18. F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.76 to $534.48, inclusive.
  19. F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.52 to $536.02, inclusive.
  20. F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.235 to $538.00, inclusive.
  21. F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.97 to $540.90, inclusive.
  22. F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.00 to $541.73, inclusive.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.11 to $543.02, inclusive.
  24. F24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $543.27 to $544.20, inclusive.
  25. F25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $544.38 to $545.32, inclusive.
  26. F26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $546.28 to $546.56, inclusive.
Total shares sold 11,583 shares Aggregate common stock sales reported in the Form 4 transaction summary
Number of sale transactions 24 transactions Non-derivative sale entries reported for September 9 and 11, 2026
Representative sale price (low end) $527.88 per share Weighted average price for a September 9, 2026 sale of 131 shares
Representative sale price (high end) $546.38 per share Weighted average price for a September 11, 2026 sale of 120 shares
10b5-1 plan adoption date June 5, 2026 Date the reporting person adopted the Rule 10b5-1 trading plan governing September 11 sales
Trading dates September 9–11, 2026 Dates on which the reported common stock sales occurred
Rule 10b5-1 trading plan regulatory
"These sales were effected 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.
restricted stock units financial
"in connection with the vesting of restricted stock units"
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.
tax withholding obligations financial
"sold by the Issuer on behalf of the Reporting Person to cover tax withholding obligations"
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

FAQ

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

How many MDGL shares did the CEO sell in this Form 4?
The filing reports that President and CEO William John Sibold sold 11,583 shares of Madrigal Pharmaceuticals common stock across 24 transactions on September 9 and 11, 2026, as disclosed in the transaction summary.

On what dates did the MDGL insider sales occur?
The reported sales of Madrigal Pharmaceuticals (MDGL) common stock occurred on September 9, 2026 and September 11, 2026, according to the transaction dates listed for each sale.

What was the price range of the MDGL shares sold by the CEO?
Reported weighted average sale prices ranged roughly from around $527 per share to about $546 per share, based on per-transaction prices and the footnoted price ranges for the multiple execution trades.

Were any MDGL shares sold to cover tax withholding obligations?
Yes. A footnote states that one group of reported sales represents shares sold by Madrigal Pharmaceuticals on behalf of the reporting person to cover tax withholding obligations in connection with vesting restricted stock units, and that this sale was automatic and not at his discretion.

Were the September 11, 2026 MDGL insider sales under a Rule 10b5-1 plan?
Yes. A footnote explains that the September 11, 2026 sales were effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 5, 2026.

Does the Form 4 state the CEO’s remaining MDGL share holdings after these sales?
No resulting share amounts are provided in the transaction rows for these sales, so the filing does not state a total number of shares held by the reporting person following the reported transactions.

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

Form 4 Insider Transactions: What Each Field Means →
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Available on EDGAR Accepted by SEC EDGAR
SEC Form 4
FORM 4UNITED 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).
X
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*
Sibold William John
(Last)(First)(Middle)
C/O MADRIGAL PHARMACEUTICALS, INC.
1001 CONSHOHOCKEN STATE ROAD SUITE 2-350
(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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock09/09/2026S(1)131D$527.8783(2)209,198D
Common Stock09/09/2026S(1)347D$529.2671(3)208,851D
Common Stock09/09/2026S(1)522D$530.2311(4)208,329D
Common Stock09/09/2026S(1)368D$531.9897(5)207,961D
Common Stock09/09/2026S(1)512D$533.0932(6)207,449D
Common Stock09/09/2026S(1)396D$534.1964(7)207,053D
Common Stock09/09/2026S(1)644D$535.2719(8)206,409D
Common Stock09/09/2026S(1)1,040D$536.1123(9)205,369D
Common Stock09/09/2026S(1)640D$537.1738(10)204,729D
Common Stock09/09/2026S(1)520D$538.2971(11)204,209D
Common Stock09/09/2026S(1)215D$539.0281(12)203,994D
Common Stock09/09/2026S(1)505D$540.1909(13)203,489D
Common Stock09/09/2026S(1)362D$541.6538(14)203,127D
Common Stock09/09/2026S(1)160D$542.5475(15)202,967D
Common Stock09/11/2026S(16)60D$533.0913(17)202,907D
Common Stock09/11/2026S(16)106D$534.063(18)202,801D
Common Stock09/11/2026S(16)218D$535.9435(19)202,583D
Common Stock09/11/2026S(16)160D$537.6175(20)202,423D
Common Stock09/11/2026S(16)687D$540.5857(21)201,736D
Common Stock09/11/2026S(16)368D$541.6423(22)201,368D
Common Stock09/11/2026S(16)1,202D$542.6032(23)200,166D
Common Stock09/11/2026S(16)1,539D$544.024(24)198,627D
Common Stock09/11/2026S(16)761D$544.8307(25)197,866D
Common Stock09/11/2026S(16)120D$546.3767(26)197,746D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. This sale represents the number of shares sold by the Issuer on behalf of the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. This sale was automatic and not at the discretion of the Reporting Person.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.49 to $528.27, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and the footnotes below.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.54 to $529.51, inclusive.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.64 to $530.48, inclusive.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $531.57 to $532.28, inclusive.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.57 to $533.29, inclusive.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.58 to $534.57, inclusive.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.63 to $535.62, inclusive.
9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.64 to $536.45, inclusive.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.64 to $537.56, inclusive.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.70 to $538.65, inclusive.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $538.86 to $539.83, inclusive.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.86 to $540.47, inclusive.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.29 to $542.27, inclusive.
15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.42 to $542.68, inclusive.
16. These sales were effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 5, 2026.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.76 to $533.64, inclusive.
18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.76 to $534.48, inclusive.
19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.52 to $536.02, inclusive.
20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.235 to $538.00, inclusive.
21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.97 to $540.90, inclusive.
22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.00 to $541.73, inclusive.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.11 to $543.02, inclusive.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $543.27 to $544.20, inclusive.
25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $544.38 to $545.32, inclusive.
26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $546.28 to $546.56, inclusive.
Remarks:
/s/ Mardi Dier, as Attorney-in-Fact09/11/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

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