Arbuckle Stuart A 4

What Happened
Stuart Arbuckle, a director of Rhythm Pharmaceuticals (RYTM), exercised/conversion of derivative securities covering 4,712 shares on June 23, 2026 and simultaneously had 4,712 shares reported as disposed (reported at $0). On June 24, 2026 he was granted two awards of restricted stock units (RSUs) totaling 6,015 RSUs (3,691 and 2,324 RSUs). The disposed-for-$0 reporting is consistent with a net/cashless-settlement or share-surrender to cover exercise cost or tax obligations; the filing does not show cash proceeds.

Key Details

• Transaction dates: 2026-06-23 (option exercise/conversion of 4,712 shares) and 2026-06-24 (grants of 3,691 and 2,324 RSUs).
• Prices reported: exercise/conversion acquisition shown as N/A; disposition shown at $0.00 (no cash proceeds reported). RSU grants reported at $0.00 (typical for equity awards).
• Total RSUs granted: 6,015 (3,691 + 2,324).
• Footnotes of note:
  • F1: Each RSU is a contingent right to one share.
  • F2/F4: RSU vesting language appears in the filing; one note (F2) states RSUs are fully vested and have no expiration, another (F4) states certain RSUs vest upon earlier of June 24, 2027 or just before the 2027 annual meeting, subject to continued service.
  • F3: Reported options vest no later than June 24, 2027 (or the day before the 2027 annual meeting), subject to continued service.
• Shares owned after transaction: not specified in the provided filing details.
• Timeliness: Form 4 filed 2026-06-25 for transactions on 6/23–6/24; filing appears timely (Form 4 is typically due within two business days).

Context

• For retail investors: the filing shows an option exercise paired with a same‑day/same‑number disposition at $0, which is commonly how companies report shares withheld or surrendered to cover exercise costs or tax withholdings (i.e., a net or cashless settlement), not an open‑market sale for cash.
• The RSU grants increase potential future share holdings once vested; vesting terms differ by note, so some or all of these RSUs may be subject to future service-based vesting.
• These transactions are routine insider equity activity and do not, by themselves, indicate the insider’s view of the company’s prospects.