MADRIGAL PHARMACEUTICALS, INC. 4

Baker Bros. Advisors LP and affiliated Baker funds reported grants of 908 RSUs and 1,532 non‑qualified stock options in Madrigal Pharmaceuticals, Inc. as equity compensation tied to the board service of Julian C. Baker and Dr. Raymond Cheong.

On June 17, 2026, Baker Bros. Advisors LP and affiliated investment funds 667, L.P. and Baker Brothers Life Sciences LP, which are deemed directors by deputization of Madrigal Pharmaceuticals, Inc., reported routine equity compensation awards tied to the board service of Julian C. Baker and Dr. Raymond Cheong. In aggregate, 908 RSUs payable in Common Stock and 1,532 non‑qualified stock options with a $499.86 exercise price were granted under the issuer’s 2026 Stock Plan, split as 454 RSUs and 766 options to each of Julian Baker and Dr. Cheong. The options vest on the earlier of June 17, 2027 or the 2027 annual stockholders’ meeting and expire 10 years from grant; the RSUs follow a similar vesting schedule. These awards are reported as indirect beneficial interests of the Baker funds due to their policies that director compensation is for the benefit of the funds, with Julian and Felix Baker disclaiming beneficial ownership except to the extent of their pecuniary interest. No open‑market purchases or sales occurred, and the awards modestly increase the Baker complex’s already substantial indirect holdings of Madrigal common stock and derivatives.

Filing Facts

CIK

1157601

Ticker

MDGL

Form

4

Source Type

sec

Accession

0001193125-26-275800

Alert Tier

5