Smith Hunter C 4

What Happened

• Hunter C. Smith, Chief Financial Officer of Rhythm Pharmaceuticals, sold a total of 7,954 common shares in open‑market transactions. The sales occurred on February 17 and February 19, 2026, for aggregate proceeds of approximately $805,814.
• Breakdown by trade (date — shares — weighted‑avg price — proceeds): Feb 17 — 1,200 @ $99.42 = $119,298; 200 @ $100.52 = $20,104; 900 @ $101.70 = $91,530; 1,069 @ $103.00 = $110,110; 200 @ $103.84 = $20,768. Feb 19 — 1,308 @ $100.27 = $131,153; 1,692 @ $100.92 = $170,755; 800 @ $102.10 = $81,676; 585 @ $103.28 = $60,420.
• This was a sale (not a purchase or option exercise). The transactions were effected under an established Rule 10b5‑1 trading plan.

Key Details

• Transaction dates: February 17 and February 19, 2026. Filing date: February 19, 2026 (filed within the typical two‑business‑day Form 4 deadline).
• Total shares sold: 7,954. Total proceeds: ~$805,814.
• Reported prices are weighted averages; the filing’s footnotes show the actual trades occurred across price ranges roughly from $99.25 to $103.50 per share.
• Notable footnote: the sales were made pursuant to a Rule 10b5‑1 plan adopted February 28, 2025 (pre‑arranged trading plan).
• Shares owned after the transaction: not provided in the excerpt supplied here (refer to the full Form 4 for the reporter’s post‑trade holdings).

Context

• A 10b5‑1 plan indicates these sales were pre‑planned and may be routine (e.g., for diversification or liquidity) rather than a spontaneous statement about company prospects. That said, sales by executives reduce their stake but do not, by themselves, prove a change in view.
• For retail investors, purchases typically carry more direct signaling value than routine, prearranged sales; use insider activity as one data point alongside company fundamentals and news.