Smith Hunter C 4

What Happened
Hunter C. Smith, Chief Financial Officer of Rhythm Pharmaceuticals (RYTM), exercised options on 2026-03-02 to acquire 6,099 shares at an exercise price of $6.80 per share, for a total cash outlay of $41,473. The Form 4 also reports a related line showing disposition of 6,099 derivative securities at $0 (both entries are transaction code M — option exercise/conversion). Footnote F1 states the options were fully vested.

Key Details

• Transaction date: 2026-03-02.
• Exercise (acquired): 6,099 shares @ $6.80 = $41,473.
• Disposition (derivative): 6,099 units @ $0 (reported as a derivative conversion/disposition).
• Shares owned after transaction: not disclosed on the filing.
• Footnote: F1 — the options were fully vested.
• Timeliness: Form filed 2026-03-02 (same day as the transaction), so appears to be timely.

Context

• Transaction code M denotes an option exercise or conversion of a derivative into shares. The filing shows an acquisition via exercise (a purchase of shares by the insider).
• The separate $0 disposition line likely reflects conversion/reporting of the derivative instrument rather than an open-market sale; the filing does not report a sale for proceeds.
• Purchases/exercises can be more informative than sales, but filings are factual records and do not explain the insider’s motivation.