Garfield Alastair 4

What Happened

• Alastair Garfield, Chief Scientific Officer of Rhythm Pharmaceuticals (RYTM), had 4,445 restricted stock units convert to common shares on July 1, 2026. Of those shares, 2,150 were withheld to satisfy tax withholding obligations at $110.41 per share, totaling $237,382. The remaining 2,295 shares were delivered to Garfield.
• This was an RSU vesting/derivative conversion and a routine tax-withholding settlement rather than an open-market purchase or discretionary sale.

Key Details

• Transaction date: 2026-07-01; Form filed: 2026-07-02 (appears timely).
• Conversion/exercise code: M (exercise/conversion of derivative — RSUs converting into shares).
• Tax withholding code: F (shares withheld to pay taxes) — 2,150 shares @ $110.41 = $237,382.
• Net shares delivered to the reporting person: 2,295 shares (4,445 vested minus 2,150 withheld).
• Shares owned after transaction: not disclosed in the excerpt provided.
• Relevant footnotes:
  • F1: Each restricted stock unit (RSU) converts to one share of common stock.
  • F2: These shares were withheld to pay the withholding taxes on vesting.
  • F3: The RSUs vest 25% on each of the first four anniversaries of July 1, 2024; RSUs have no expiration date.

Context

• This was a vesting and cashless tax-withholding settlement (common when RSUs vest); it is administrative in nature and does not necessarily indicate a buy or sell decision by the insider.
• Transaction codes: M = derivative exercise/conversion (vested RSUs → shares); F = tax withholding (shares surrendered to cover taxes).