Madrigal director receives new stock and option awards

Madrigal Pharmaceuticals director Jacqualyn A. Fouse reported receiving new equity awards.

Rhea-AI Filing Summary

Madrigal Pharmaceuticals director Jacqualyn A. Fouse reported receiving new equity awards. She was granted 454 shares of common stock in the form of restricted stock units at no cost, increasing her direct common stock holdings to 1,551 shares.

She was also granted stock options covering 766 shares of common stock at an exercise price of $499.86 per share, expiring on June 17, 2036. Both the restricted stock units and the options vest 100% on the earlier of June 17, 2027 or the company’s 2027 annual meeting of stockholders, provided she continues in service with Madrigal through that date.

Insider Trade Summary

Grant/Award: 1,220 shares

Grant/Award 2 txns

Insider FOUSE JACQUALYN A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	766	$0.00	$0.00
Grant/Award	Common Stock	454	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 766 contracts (Direct); Common Stock — 1,551 shares (Direct)

Footnotes (2)

1. F1. 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. F2. 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: 454 shares Director common shares after grant: 1,551 shares Stock options granted: 766 options +3 more

6 metrics

Restricted stock units granted 454 shares Grant of common stock RSUs to director on June 17, 2026

Director common shares after grant 1,551 shares Direct holdings of common stock following RSU award

Stock options granted 766 options New stock option award to acquire common stock

Option exercise price $499.86 per share Strike price for newly granted stock options

Option expiration date June 17, 2036 Expiration of stock option (right to buy) award

Equity award vesting date June 17, 2027 or 2027 meeting Awards vest on earlier of June 17, 2027 or 2027 annual meeting, with continued service

Key Terms

restricted stock units, Stock Option (Right to Buy, annual meeting of stockholders, exercise price

4 terms

restricted stock units financial

"Represents a grant of restricted stock units which vest on the earlier of (i) June 17, 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 766.0000 shares at an exercise price of 499.8600..."

annual meeting of stockholders financial

"the date of the Issuer's annual meeting of stockholders to be held in 2027..."

exercise price financial

"conversion_or_exercise_price": "499.8600" for the stock option grant..."

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.

FAQ

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

What insider transactions did Madrigal (MDGL) director Jacqualyn Fouse report?

Jacqualyn Fouse reported receiving 454 restricted stock units and stock options for 766 shares of Madrigal common stock. These awards were granted at no cost as equity compensation, with specific vesting conditions tied to continued service with the company.

How many Madrigal (MDGL) shares does Jacqualyn Fouse hold after this Form 4?

After the grant, Jacqualyn Fouse directly holds 1,551 shares of Madrigal common stock. In addition, she holds stock options covering 766 underlying shares, which were newly granted in this transaction and are subject to future vesting conditions.

What are the terms of Jacqualyn Fouse’s new Madrigal (MDGL) stock options?

The new stock options cover 766 shares of Madrigal common stock with an exercise price of $499.86 per share. They expire on June 17, 2036 and vest 100% on a specified future date, assuming continued service to the company.

When do Jacqualyn Fouse’s new Madrigal (MDGL) equity awards vest?

Both the 454 restricted stock units and the options on 766 shares vest 100% on the earlier of June 17, 2027 or Madrigal’s 2027 annual stockholder meeting, provided Jacqualyn Fouse continues in service with the company through that vesting date.

Did Jacqualyn Fouse buy or sell Madrigal (MDGL) shares on the open market?

No open-market purchases or sales were reported. The Form 4 reflects equity awards granted to Jacqualyn Fouse—restricted stock units and stock options—rather than discretionary market trades, with no shares bought or sold for cash in this filing.

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

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Accepted by SEC EDGAR 06/18/2026 - 04:19 PM EDT Learn about SEC filing dates

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^*

FOUSE JACQUALYN A

(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)		454	A	$0	1,551	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		766		(2)	06/17/2036	Common Stock	766	$0	766	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)