Shulman Joseph 4

What Happened
Joseph Shulman, Chief Technical Officer of Rhythm Pharmaceuticals (RYTM), had restricted stock units vest and convert into 16,968 shares on February 1, 2026. Of those, 6,507 shares were withheld to cover withholding taxes at $108.99 per share, totaling $709,198. The conversion entries are reported as exercise/conversion of derivatives (code M) and the withholding is reported as payment of tax liability (code F).

Key Details

• Transaction date: February 1, 2026; Form 4 filed February 3, 2026 (timely filing).
• Converted (vested) shares: total 16,968 shares (reported as 2,656 + 3,937 + 4,125 + 6,250 from separate grants).
• Shares withheld for taxes: 6,507 shares at $108.99 each = $709,198 (code F; footnote F2).
• The RSU grants have varying vesting schedules (see footnotes F3–F6); RSUs are contingent rights to receive one share each (F1) and have no expiration date.
• Filing shows conversions and withholding only; the filing excerpt provided does not state Shulman’s total shares owned after the transaction.
• No 10b5-1 plan or sale in open market is indicated; this is a vesting/settlement event (not a discretionary open-market sale).

Context
This was a routine vesting/settlement of RSUs, with a portion of shares surrendered/withheld to satisfy tax withholding—commonly called a net or sell-to-cover settlement. Such withholding is administrative and does not necessarily signal a buy or sell decision by the insider. For retail investors, purchases or open-market sales by insiders are usually more informative about sentiment; this filing documents award vesting and tax payment.