Rhythm Pharmaceuticals (RYTM) Form 144: Option Exercise and Sale

Rhea-AI Filing Summary

Rhythm Pharmaceuticals (RYTM) reported a Form 144 notice showing an insider transaction involving common stock. The filing discloses the planned sale of 3,984 shares on 08/11/2025 through Morgan Stanley Smith Barney LLC on NASDAQ with an aggregate market value of $366,448.32. Those shares were acquired the same day by exercise of stock options from the issuer and paid for in cash.

The filing also lists shares outstanding of 66,420,091, and prior 10b5-1 sales on 07/09/2025 of 7,969 shares for gross proceeds of $619,850.56. The notice includes the standard officer representation about absence of undisclosed material adverse information.

Insights

Financial Analyst

TL;DR: Routine option exercise followed by a small planned insider sale; not material to market capitalization.

The Form 144 reports a same-day exercise of stock options and a planned sale of 3,984 common shares valued at $366,448.32. Against the reported 66,420,091 shares outstanding, the single planned sale represents roughly 0.006% of outstanding shares, which is immaterial to market capitalization. A prior 10b5-1 disposal of 7,969 shares was disclosed for July 9, 2025, indicating recent insider liquidity but not a material reduction in insider ownership. This is a routine disclosure with limited direct financial impact.

Corporate Governance Expert

TL;DR: Disclosure follows Rule 144 and references a 10b5-1 plan; filing meets standard reporting and representation requirements.

The filing identifies the broker, exchange, nature of acquisition (exercise of stock options), payment method (cash), and includes the required representation regarding material nonpublic information and any 10b5-1 plan adoption date prompt. These elements are consistent with compliance expectations for insider sales under Rule 144 and 10b5-1 frameworks. No governance red flags or unusual conditions are evident from the disclosed fields.

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	3984	366448.32	66420091	08/11/2025	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	08/11/2025	Exercise of Stock Options	Issuer			3984	08/11/2025	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 JOSEPH J SHULMAN 222 Berkeley Street, 12th Floor BOSTON MA 02116	Common	07/09/2025	7969	619850.56

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 RYTM report on this Form 144?

The Form 144 reports a planned sale of 3,984 common shares on 08/11/2025 via Morgan Stanley Smith Barney on NASDAQ, valued at $366,448.32.

How were the 3,984 shares acquired?

The shares were acquired on 08/11/2025 by exercise of stock options from the issuer, with payment made in cash.

How many shares does Rhythm Pharmaceuticals have outstanding according to the filing?

The filing lists 66,420,091 shares outstanding.

Were there any recent insider sales disclosed previously?

Yes. The filing discloses 10b5-1 sales on 07/09/2025 of 7,969 common shares for gross proceeds of $619,850.56.

Through which broker will the planned sale be executed?

The planned sale is to be executed through Morgan Stanley Smith Barney LLC.