Form 4: Madrigal Pharmaceuticals Director Paul Friedman Executes Stock Options and Sells Shares Under 10b5-1 Plan

Paul Friedman, a director at Madrigal Pharmaceuticals, executed stock options and sold shares of common stock between April 3rd and April 5th, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Paul Friedman, a director at Madrigal Pharmaceuticals, executed stock options to acquire common stock at a price of $9.45 per share on April 3rd, 4th, and 5th, 2024.
• Concurrently, Friedman sold shares of common stock on the open market at prices ranging from approximately $240.10 to $248.43 per share on the same dates.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 27, 2023.
• After these transactions, Friedman directly owns 185,735 shares of common stock and indirectly owns 655,540 shares through SQN LLC.
• He also holds options to purchase 232,526 shares of common stock.
• A Power of Attorney was executed on April 4, 2024, granting Bill Sibold, Mardi Dier, and Justin Drinkwine the authority to act on Friedman's behalf for SEC filings related to Madrigal Pharmaceuticals securities.

Sentiment

Score: 5

Explanation: The document simply reports stock transactions by a company director. It's a neutral event, neither particularly positive nor negative.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.

Industry Context

Executive stock transactions are a normal part of corporate governance. The use of a 10b5-1 plan suggests a planned and transparent approach to these transactions.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan suggests the transactions were planned and transparent.

Key Dates