[Form 4] MADRIGAL PHARMACEUTICALS, INC. Insider Trading Activity
Rhea-AI Filing Summary
Madrigal Pharmaceuticals director Paul A. Friedman reported an option exercise and small share sale. On January 9, 2026, he exercised a stock option for 280 shares of common stock at $15.80 per share, then sold 280 shares of common stock at a weighted average price of $551.2414 per share under a pre-arranged Rule 10b5-1 trading plan adopted on September 10, 2025.
After these transactions, he directly owned 187,164 shares of Madrigal common stock. The filing also notes 655,540 shares held indirectly through SQN LLC, an entity for which he and his spouse are managing members, with a disclaimer that he only benefits to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 280 | $0.00 | -- |
| Exercise | Common Stock | 280 | $15.80 | $4K |
| Sale | Common Stock | 280 | $551.2414 | $154K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.24 to $551.25, 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 range set forth in this footnote. The Reporting Person and his spouse are each managing members of SQN, LLC. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of the beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. The shares underlying this stock option are fully vested and exercisable.
FAQ
What insider transaction did Madrigal (MDGL) disclose in this Form 4?
The Form 4 reports that director Paul A. Friedman exercised a stock option for 280 shares at $15.80 per share and sold 280 shares of Madrigal common stock at a weighted average price of $551.2414 per share on January 9, 2026.
Was the MDGL insider sale made under a Rule 10b5-1 trading plan?
Yes. The filing states that the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Paul A. Friedman on September 10, 2025.
What is the nature of Paul A. Friedman’s indirect ownership in MDGL through SQN LLC?
The filing notes that Paul A. Friedman and his spouse are managing members of SQN LLC. He disclaims beneficial ownership of the shares held by SQN LLC except to the extent of his pecuniary interest.
What happened to the stock option reported in the Madrigal (MDGL) Form 4?
The Form 4 shows a stock option for 280 shares of Madrigal common stock with an exercise price of $15.80. On January 9, 2026, it was exercised in full, leaving 0 derivative securities of that option reported as beneficially owned afterward.