Mazabraud Yann 4

What Happened
Yann Mazabraud, EVP & Head of International at Rhythm Pharmaceuticals (RYTM), had 5,500 restricted stock units converted into common shares on Feb 1, 2026 (reported on a Form 4 filed Feb 3, 2026). The filing shows a matching disposition of 5,500 shares at $0.00. The conversion is recorded under code M (exercise/conversion of a derivative). The entries show no cash proceeds from the disposition (total reported value $0).

Key Details

• Transaction date: 2026-02-01; Form 4 filed: 2026-02-03 (appears timely).
• Conversion (M): 5,500 shares acquired; Disposal (M): 5,500 shares disposed at $0.00.
• Shares owned after transaction: not reported in the provided filing excerpt.
• Footnotes:
  • F1: Each restricted stock unit (RSU) represents a contingent right to one share.
  • F2: These RSUs vest 25% on each of Feb 16, 2025; Feb 1, 2026; Feb 1, 2027; Feb 1, 2028 and have no expiration.
• Transaction codes: M = exercise/conversion of a derivative. Disposition at $0.00 is commonly how share withholding or settlement to cover taxes/withholding is reported (no cash proceeds).

Context
This was a conversion/settlement of RSUs rather than an open-market buy or sale. Conversions and associated withholdings are routine administrative events tied to vesting and do not, by themselves, indicate a buy or sell decision in the open market. Retail investors should treat this as a vesting/settlement reporting item rather than a market-directional insider purchase or sale.