RHYTHM PHARMACEUTICALS, INC. — Director's Dealing 2025

Oct 20, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RHYTHM PHARMACEUTICALS, INC. (RYTM)
CIK: 0001649904
Period of Report: 2025-10-16

Reporting Person: Shulman Joseph (Chief Technical Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-16	Common Stock	M	2093	$27.35	Acquired	10602	Direct
2025-10-16	Common Stock	M	12344	$30.66	Acquired	22946	Direct
2025-10-16	Common Stock	S	2693	$110.9482	Disposed	20253	Direct
2025-10-16	Common Stock	S	8332	$112.0554	Disposed	11921	Direct
2025-10-16	Common Stock	S	3412	$112.81	Disposed	8509	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-16	Stock Options (Right to Buy)	$27.35	M	2093	Disposed	2033-01-31	Common Stock (2093)	Direct
2025-10-16	Stock Options (Right to Buy)	$30.66	M	12344	Disposed	2031-02-10	Common Stock (12344)	Direct

Footnotes

F1: The sale reported in this Form 4 was effected pursuant to Rule 10b5-1 instruction adopted on August 8, 2024.

F2: The price reported in Column 4 is a weighted average price. The securities were sold in multiple transactions at prices ranging from $110.23 to $111.00 per common stock. 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 range set forth in this footnote.

F3: The price reported in Column 4 is a weighted average price. The securities were sold in multiple transactions at prices ranging from $111.50 to $112.48 per common stock. 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 range set forth in this footnote.

F4: The price reported in Column 4 is a weighted average price. The securities were sold in multiple transactions at prices ranging from $112.51 to $113.14 per common stock. 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 range set forth in this footnote.

F5: The stock options were granted on February 1, 2023. The options vest and become exercisable in 16 substantially equal installments upon the Reporting Person's completion of each three full months of successive service to the Issuer following the grant date.

F6: The stock option is fully vested.