Brennan Daniel J. 4

What Happened

• Daniel J. Brennan, a director of Madrigal Pharmaceuticals, was granted equity awards on 2026-06-17: 404 restricted stock units (RSUs) and 681 derivative awards recorded as an award (no cash paid). Both awards show an acquisition price of $0.00, meaning they were granted as compensation rather than purchased.

Key Details

• Transaction date: 2026-06-17; reported on Form 4 filed 2026-06-18 (no late filing indicated).
• Awards: 404 RSUs (footnote F1) and 681 derivative awards (footnote F2); both recorded at $0.00.
• Vesting: Both awards vest on the earlier of (i) June 17, 2027 or (ii) the issuer’s 2027 annual meeting, provided Brennan remains in service on that date (F1 and F2). F2 specifies the derivative is an option that vests 100% on that schedule.
• Shares owned after transaction: not specified in the supplied filing excerpt.
• No indication of a 10b5-1 plan, cashless exercise, sale, or tax-withholding event in the provided details.

Context

• These were grants/awards (compensation), not open-market purchases or sales. The derivative award appears to be an option that will convert to underlying shares upon vesting; no exercise or sale occurred at grant. Such awards are routine director compensation and reflect future potential ownership contingent on continued service.