[144] Madrigal Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Madrigal Pharmaceuticals (MDGL) notice reports a proposed sale under Rule 144 by an affiliate who acquired 2,900 common shares on 08/29/2025 by exercising options under a registered plan and intends to sell them through Morgan Stanley Smith Barney on 08/29/2025 on NASDAQ for an aggregate market value of $1,251,895.78. The filer lists the issuer's outstanding shares as 22,289,014. The form also discloses that the same person sold 7,100 shares in three transactions during August 2025, generating total gross proceeds of approximately $2,657,186.88. The signer certifies no undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Insider exercised options and is selling a small fraction of outstanding shares; transactions appear routine, not material to capitalization.

The filer acquired 2,900 shares via option exercise and arranged a same-day sale through a broker for about $1.25 million. Recent sales by the same person total 7,100 shares in August 2025, meaning combined August dispositions equal 10,000 shares versus 22,289,014 shares outstanding, representing roughly 0.045% of the float. These volumes are small relative to company capitalization and suggest personal liquidity activity rather than a company-level change. No disclosure of material adverse, non-public information is asserted.

Corporate Governance Expert

TL;DR: Filing complies with Rule 144 requirements; signature affirms absence of undisclosed material information.

The notice documents method of acquisition (exercise under a registered plan) and identifies the executing broker and planned date of sale. The signer affirms compliance statements required by Rule 144. There is no indication of a 10b5-1 plan referenced on the form, and no material non-public disclosures are claimed. From a governance perspective, these are routine insider disposition disclosures consistent with securities regulation.

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	2900	1251895.78	22289014	08/29/2025	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	08/29/2025	Exercise of options under a registered plan	Issuer			2900	08/29/2025	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
FRED CRAVES 200 Barr Harbor Drive Suite 200 West Conshohocken PA 19428	Common	08/20/2025	1000	390224.20
FRED CRAVES 200 Barr Harbor Drive Suite 200 West Conshohocken PA 19428	Common	08/18/2025	2000	764481.20
FRED CRAVES 200 Barr Harbor Drive Suite 200 West Conshohocken PA 19428	Common	08/15/2025	4100	1503481.48

144: Remarks and Signature

Remarks

Date of Notice

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 MDGL Form 144 disclose about the proposed sale?

The filer proposes to sell 2,900 common shares acquired by option exercise on 08/29/2025, to be sold via Morgan Stanley Smith Barney on 08/29/2025 on NASDAQ for an aggregate market value of $1,251,895.78.

How many MDGL shares does the issuer report outstanding in this filing?

The filing lists 22,289,014 shares outstanding.

Has the filer sold MDGL shares recently?

Yes. The filer sold 1,000 shares on 08/20/2025, 2,000 shares on 08/18/2025, and 4,100 shares on 08/15/2025, with gross proceeds totaling approximately $2,657,186.88.

How were the 2,900 shares acquired according to the Form 144?

They were acquired on 08/29/2025 by the exercise of options under a registered plan, with payment made in cash on 08/29/2025.

Through which broker will the MDGL shares be sold?

The sale is to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.