Rhythm Pharmaceuticals insider plans sale of 1,500 shares on NASDAQ

Rhea-AI Filing Summary

Christopher Paul German filed a Form 144 reporting a proposed sale of 1,500 Rhythm Pharmaceuticals (RYTM) common shares acquired by exercising stock options on 08/12/2025. The filing shows the shares were paid for in cash, lists Morgan Stanley Smith Barney LLC as broker, assigns an aggregate market value of $141,465.00, and identifies the planned sale on 08/12/2025 on NASDAQ. The issuer has 66,420,091 shares outstanding. The notice also discloses prior 10b5-1 sales by Mr. German in 06/10/2025 and 07/09/2025, totaling 5,886 shares for $447,233.36 gross proceeds. The form includes the standard insider representation about material nonpublic information.

Insights

Financial Analyst

TL;DR: Small, scheduled insider sale; immaterial to cap structure but worth noting for trading activity.

The 1,500-share proposed sale represents a very small fraction of the 66,420,091 shares outstanding (approximately 0.0023%). The shares were acquired by option exercise and paid in cash on 08/12/2025, and the broker is Morgan Stanley Smith Barney LLC. Recent 10b5-1 sales totaling 5,886 shares and $447,233.36 in gross proceeds indicate ongoing preplanned dispositions rather than a single ad hoc divestiture. From a financial-materiality perspective, these transactions are routine and unlikely to affect company valuation or control.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 144 and 10b5-1 transparency; no governance red flags in the filing.

The filing properly identifies the exercise date, nature of acquisition, payment method, broker, and planned sale date, and reiterates the insider's representation regarding material nonpublic information. The presence of 10b5-1 sales in June and July 2025 suggests a trading plan or prearranged sales, which increases procedural transparency. There is no indication in the form of undisclosed related-party transactions or unusual payment terms.

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	1500	141465.00	66420091	08/12/2025	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	08/12/2025	Exercise of Stock Options	Issuer			1500	08/12/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for CHRISTOPHER PAUL GERMAN 222 Berkeley Street, 12th Floor BOSTON MA 02116	Common	07/09/2025	3817	308217.25
10b5-1 Sales for CHRISTOPHER PAUL GERMAN 222 Berkeley Street, 12th Floor BOSTON MA 02116	Common	06/10/2025	2069	139016.11

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 does the RYTM Form 144 filed by Christopher Paul German report?

It reports a proposed sale of 1,500 common shares of Rhythm Pharmaceuticals (RYTM) acquired by option exercise on 08/12/2025.

When will the proposed RYTM sale occur and on which exchange?

The filing lists an approximate sale date of 08/12/2025 and names NASDAQ as the securities exchange.

What is the aggregate market value and who is the broker for the RYTM sale?

The aggregate market value is reported as $141,465.00, and the broker is Morgan Stanley Smith Barney LLC.

Has the insider sold RYTM shares recently?

Yes; the form discloses two 10b5-1 sales by Christopher Paul German on 06/10/2025 (2,069 shares) and 07/09/2025 (3,817 shares), totaling 5,886 shares for $447,233.36 gross proceeds.

How many RYTM shares are outstanding according to the filing?

The filing shows 66,420,091 shares outstanding.