MADRIGAL PHARMACEUTICALS INC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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Item 9B. Other Information
Director and Executive Officer 10b5-1 Plans
Our policy governing transactions in our securities by our directors, officers and employees permits our directors, officers and employees to enter into trading plans complying with Rule 10b5-1 under the Exchange Act. The following table describes the written plans for the sale of our securities that were adopted by our executive officers and directors during the quarter ended December 31, 2024. Each of the plans was entered into during an open trading window and is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (each a “Trading Plan”).
| Name and Title | Action Taken (Date) | Duration of Plan (1) | Aggregate Number of Securities that May be Sold |
|---|---|---|---|
| Bill Sibold, Chief Executive Officer | Adoption (11/15/2024) | 11/15/24 – 6/30/26 | 7,616 |
| Mardi Dier, Chief Financial Officer | Adoption (11/13/2024) | 11/13/24 – 10/31/25 | 2,218(2) |
| Carole Huntsman, Chief Commercial Officer | Adoption (11/5/2024) | 11/5/24 – 1/31/26 | 4,701(2) |
| Shannon Kelley, General Counsel | Adoption (11/7/2024) | 11/7/24 – 1/31/26 | 2,409(2) |
(1) Each Trading Plan is subject to a “cooling-off” period as set forth in Rule 10b5-1(c). Each Trading Plan may expire on an earlier date if all contemplated transactions are completed before such Trading Plan’s expiration date, upon termination by the broker or the holder of the Trading Plan, or as otherwise provided in the Trading Plan.
(2) Each Trading Plan provides for the sale of shares to be received upon future vesting of certain outstanding equity awards, net of any shares sold to satisfy applicable taxes. The number of shares to be sold to satisfy taxes, and thus the exact number of shares to be sold pursuant to each Trading Plan, can only be determined upon the occurrence of future vesting events. For purposes of this disclosure, we have reported the maximum aggregate number of shares to be sold without subtracting any shares to be sold to satisfy tax obligations.
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