MADRIGAL PHARMACEUTICALS, INC. — Director's Dealing 2023

Jan 6, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MADRIGAL PHARMACEUTICALS, INC. (MDGL)
CIK: 0001157601
Period of Report: 2023-01-03

Reporting Person: Lynch Brian Joseph (SVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-03	Common Stock	M	13000	$91.79	Acquired	13000	Direct
2023-01-03	Common Stock	S	600	$277.91	Disposed	12400	Direct
2023-01-03	Common Stock	S	400	$279.10	Disposed	12000	Direct
2023-01-03	Common Stock	S	1800	$280.66	Disposed	10200	Direct
2023-01-03	Common Stock	S	2656	$281.97	Disposed	7544	Direct
2023-01-03	Common Stock	S	2628	$282.97	Disposed	4916	Direct
2023-01-03	Common Stock	S	1549	$283.85	Disposed	3367	Direct
2023-01-03	Common Stock	S	829	$285.15	Disposed	2538	Direct
2023-01-03	Common Stock	S	2038	$285.74	Disposed	500	Direct
2023-01-03	Common Stock	S	400	$286.62	Disposed	100	Direct
2023-01-03	Common Stock	S	100	$287.86	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-03	Stock Option (Right to Buy)	$91.79	M	13000	Disposed	2030-03-05	Common Stock (13000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	530	Indirect

Footnotes

F1: All transactions reported herein were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

F2: All shares issued pursuant to the exercise of the options reported herein represent 13,000 shares underlying an overall option award of 32,000 shares. All exercised options had vested. As to the overall option for 32,000 shares, 25% of the shares underlying the option vested on March 5, 2021 and, thereafter, 6.25% of the shares vested, or will vest, on the last day of each successive three-month period, provided the Reporting Person continues in service with the Issuer on each such date.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $277.90 to $277.92, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and the footnotes below.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $279.06 to $279.38, inclusive.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $280.22 to $281.16, inclusive.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $281.32 to $282.30, inclusive.

F7: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $282.41 to $283.33, inclusive.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $283.42 to $284.21, inclusive.

F9: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $284.50 to $285.49, inclusive.

F10: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $285.50 to $286.29, inclusive.

F11: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $286.61 to $286.63, inclusive.

F12: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $287.86 to $287.86, inclusive.