MDGL MADRIGAL PHARMACEUTICALS, INC. Insider Trading

CMO David Soergel sells 1,042 MDGL shares at $495.74 via pre-arranged 10b5-1 plan; stock at $481.23, down -6.3% in 30 days.

David Soergel sold 1,042 shares for $516,561.08 under a 10b5-1 trading plan adopted on 2026-03-02, reducing his holdings from 11,075 shares to 10,033 shares. The transaction was executed at $495.74, while the current price stands at $481.23, representing a -21.8% decline from the 52-week high of $615.00. The stock has declined -6.3% over the past 30 days despite posting +13.0% gains over 90 days. Madrigal's fundamentals show the company posted net income of $-94,391,000.00 on latest quarter revenue of $311,337,000.00, with full-year net income negative; however, annual revenue growth reached +432.0%. As a scheduled transaction under a pre-arranged plan, this sale carries no timing signal regarding executive conviction.

Director Richard S Levy sells 5,682 shares at $515.44 avg ($2.9M) at MDGL; 10b5-1 plan

Richard S Levy, a director at Madrigal Pharmaceuticals, executed 12 separate sales totaling 5,682 shares for $2,928,716.43 on 2026-05-22 under a pre-arranged 10b5-1 trading plan adopted on 2026-02-20, reducing his holdings by -20.5% vs pre-transaction holdings. The company is unprofitable (full-year net income was negative) while showing explosive revenue growth of +432.0% year-over-year, creating valuation tension. Across his cross-ticker track record, Levy's prior 19 sells averaged +8.3% returns over 30 days post-execution, though his same-ticker history at MDGL (5 prior sells in November 2025) showed mixed 30-day outcomes (ranging 7.8%–10.8%) followed by consistent 90-day declines. The scheduled nature of this sale under 10b5-1 removes discretionary timing as a signal of conviction or concern.

CFO Dier Mardi sold 1,336 shares across 11 transactions for $574,959.28 under pre-arranged 10b5-1 plan

Dier Mardi, EVP and CFO of Madrigal Pharmaceuticals, executed 11 separate sales totaling 1,336 shares for $574,959.28 on 2026-03-06 at prices ranging from $425.08 to $437.65 with a blended average price of $430.36. This transaction is governed by a pre-arranged 10b5-1 trading plan adopted on 2025-09-02, meaning it is scheduled rather than discretionary. The sale reduced his holdings from 13,826 shares to 12,490 shares, representing a 9.7% reduction in his position. Since this sale is part of a pre-established trading plan, it does not reflect real-time conviction or market timing signals, but rather follows a predetermined schedule established months in advance.

Director Taub executes 28 sales totaling 18,410 shares for $9,617,312.09 via scheduled 10b5-1 plan

Rebecca Taub, a director at Madrigal Pharmaceuticals, executed 28 separate sales on 2026-01-09 totaling 18,410 shares (18.4K shares) for $9,617,312.09 across a price range of $512.02 to $542.72, with a blended average of $522.40. This transaction reduces her post-transaction holdings to 455,589 shares from 473,999 shares, representing a net reduction of 3.9% of her prior position. The transaction is part of a pre-arranged 10b5-1 trading plan adopted on 2025-09-10, meaning the sales were scheduled and not discretionary. The substantial dollar amount ($9.6M) and multi-tranche execution reflect an orderly liquidation structure, consistent with planned capital deployment or portfolio management under the mechanical framework of a 10b5-1 arrangement.

Director Paul A Friedman sold 24,520 shares at $522.39 blended average on 2026-01-09 under pre-arranged 10b5-1 plan

Director Friedman executed 28 separate sales totaling 24,520 shares for $12,808,956.92 on 2026-01-09 under a 10b5-1 trading plan adopted on 2025-09-10, reducing his holdings from 211,684 shares to 187,164 shares (-11.6%). The transaction was scheduled rather than discretionary, executing across a range of prices from $511.98 to $545.79 per share with a blended average of $522.39. As a pre-arranged trading plan, this sale reflects a commitment made months prior to execution and does not reflect current market conditions or timing decisions.

Director Paul Friedman sold 24,800 shares of MDGL for $13.7M via 10b5-1 plan on 2025-12-10

Director Paul Friedman executed 9 separate sales totaling 24,800 shares for $13,694,157.81 ($13.7M) on 2025-12-10, reducing his holdings from 211,964 to 187,164 shares (-11.7%). This transaction was part of a pre-arranged 10b5-1 trading plan adopted on 2025-09-10, making it scheduled rather than discretionary. The sale occurred across a range of prices from $547.75 to $555.39 with a blended average price of $552.18. As a 10b5-1 plan execution, the timing and sequencing reflect the plan's predetermined schedule rather than active trading decisions in response to market conditions.

Director Taub Rebecca sold 18.6K shares of MDGL for $10.3M (blended avg $552.15) on 2025-12-10.

Taub Rebecca conducted 9 separate sales totaling 18,650 shares for $10,297,572.92 on 2025-12-10, reducing her holdings by 3.9% to 455,589 shares post-transaction. The blended average price of $552.15 was achieved across a narrow range ($547.76–$555.39) within a single trading day. At the current price of $571.44, the stock has risen 8.0% over the past 30 days and 32.2% over 90 days, while her prior sales at MDGL have consistently been followed by gains—her 5 prior trades at this ticker averaged +23.1% at 30 days and +39.4% at 90 days, with zero of those sales proving well-timed (i.e., none were preceded by subsequent declines). Notably, MDGL remains unprofitable, with a net loss of $114.2M against revenue of $287.3M in the latest quarter, yet this sale occurs at a stock price 4.9% below the 52-week high of $601.03.

CFO Dier Mardi sold 4,173 shares for $2,413,416.42 under pre-arranged 10b5-1 plan adopted 2025-09-02

On 2025-12-02, Dier Mardi, EVP and CFO of Madrigal Pharmaceuticals, executed 15 separate sales totaling 4,173 shares for $2,413,416.42 at prices ranging from $570.39 to $596.18 per share, with a blended average price of $578.34. This transaction reduced his holdings from 14,613 shares to 10,440 shares, a reduction of 28.6% of his pre-transaction holdings. The sales were conducted pursuant to a pre-arranged 10b5-1 trading plan adopted on 2025-09-02, meaning the execution was scheduled rather than discretionary. As a scheduled transaction under an established plan, this filing reflects automated compliance with a predetermined trading schedule rather than a real-time market decision by the CFO.

Director Levy Richard S sold 8,500 shares across 14 transactions on 2025-11-13 for $4,428,197.57 ($4.4M)

Director Richard S. Levy executed 14 separate sales totaling 8,500 shares (8.5K shares) for $4,428,197.57 ($4.4M) on 2025-11-13 at prices ranging from $514.67 to $530.21, with a blended average price of $520.96. This represents a -28.6% reduction in his position, bringing holdings from 29,697 shares (29.7K shares) to 21,197 shares (21.2K shares). The stock is currently at $529.21, -2.3% from its 52-week high of $541.50, and has appreciated 22.1% over the past 30 days and 43.1% over the past 90 days. Notably, Levy's prior SAME-TICKER HISTORY at MDGL shows 4 of 5 prior sales executed in late October 2024 were poorly timed, with 90-day returns ranging from +11.2% to +12.7% (the stock rose after those sales), while his cross-ticker track record shows a 9.09% well-timed rate across 11 prior sells. The company posted $287,268,000.00 ($287.3M) in revenue but $-114,190,000.00 ($-114.2M) in net income in its most recent quarter, with annual profitability also negative.

Director BATE KENNETH sold 16,575 shares (16.6K) at $484.30 avg for $8,027,354.14 ($8.0M) on 2025-11-05, reducing stake by 86.3% to 2,627 shares

Director BATE KENNETH executed 11 separate sales totaling 16,575 shares for $8,027,354.14 on 2025-11-05, reducing his holdings from 19,202 shares to 2,627 shares—an 86.3% reduction. The stock currently trades at $489.26, at its 52-week high, and has gained 12.0% over the last 30 days and 41.5% over 90 days, suggesting strong recent momentum. MDGL is unprofitable (net income of -$114,190,000 on revenue of $287,268,000), which adds context to the magnitude of this director-level divestment. Notably, the insider's prior five trades at MDGL (all on 2025-08-15) showed subsequent 30-day gains of 17.3% to 18.9%, indicating that his earlier sales at that ticker preceded or coincided with continued upside, not downside reversals.