BATE KENNETH sold 86.3% of their position (16.57K shares) of MADRIGAL PHARMACEUTICALS, INC. on the open market

Open‑market sale worth $8.03M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 11 sales

BATE KENNETH

Filed: 11/7/2025ACC: 0001628280-25-050668

InsiderBATE KENNETHCIK 1210238

→

IssuerMADRIGAL PHARMACEUTICALS, INC.CIK 1157601

Director

Since Jun 2019

-16.57K

Net shares

Net seller

$8.03M

Total sold

Open market trades

0B · 11S

Total transactions

16.57K acquired · 33.15K disposed

Non-Derivative Transactions14

Common Stock

Direct

M · Option Exercise

+5.47K

Price / share

$9.45

Trade value

$51.69K

% of position

208.2%

11/5/2025

2.63K→8.10K

Common Stock

Direct

M · Option Exercise

+10K

Price / share

$303.79

Trade value

$3.04M

% of position

123.5%

11/5/2025

8.10K→18.10K

Common Stock

Direct

M · Option Exercise

+1.10K

Price / share

$280.04

Trade value

$309.44K

% of position

6.1%

11/5/2025

18.10K→19.20K

Common Stock

Direct

S · Sale

−1.76K

Price / share

$480.24

Trade value

$846.66K

% of position

9.2%

11/5/2025

19.20K→17.44K

Common Stock

Direct

S · Sale

−3.26K

Price / share

$481.13

Trade value

$1.57M

% of position

18.7%

11/5/2025

17.44K→14.18K

Common Stock

Direct

S · Sale

−1.28K

Price / share

$482.41

Trade value

$619.42K

% of position

9.1%

11/5/2025

14.18K→12.90K

Common Stock

Direct

S · Sale

−2.07K

Price / share

$483.41

Trade value

$1M

% of position

16.0%

11/5/2025

12.90K→10.83K

Common Stock

Direct

S · Sale

−1.93K

Price / share

$484.78

Trade value

$936.10K

% of position

17.8%

11/5/2025

10.83K→8.90K

Common Stock

Direct

S · Sale

−1.01K

Price / share

$485.54

Trade value

$489.42K

% of position

11.3%

11/5/2025

8.90K→7.89K

Common Stock

Direct

S · Sale

−827.00

Price / share

$486.73

Trade value

$402.53K

% of position

10.5%

11/5/2025

7.89K→7.06K

Common Stock

Direct

S · Sale

−2.77K

Price / share

$487.49

Trade value

$1.35M

% of position

39.3%

11/5/2025

7.06K→4.29K

Common Stock

Direct

S · Sale

−696.00

Price / share

$489.09

Trade value

$340.41K

% of position

16.2%

11/5/2025

4.29K→3.59K

Common Stock

Direct

S · Sale

−933.00

Price / share

$489.95

Trade value

$457.12K

% of position

26.0%

11/5/2025

3.59K→2.66K

Common Stock

Direct

S · Sale

−30.00

Price / share

$490.98

Trade value

$14.73K

% of position

1.1%

11/5/2025

2.66K→2.63K

Total

Net shares

+0.00

Net value

-$4.63M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	11/5/2025	M · Option Exercise	+5.47K	$9.45	$51.69K	208.2%	2.63K	8.10K
Common Stock Direct	11/5/2025	M · Option Exercise	+10K	$303.79	$3.04M	123.5%	8.10K	18.10K
Common Stock Direct	11/5/2025	M · Option Exercise	+1.10K	$280.04	$309.44K	6.1%	18.10K	19.20K
Common Stock Direct	11/5/2025	S · Sale	−1.76K	$480.24	$846.66K	9.2%	19.20K	17.44K
Common Stock Direct	11/5/2025	S · Sale	−3.26K	$481.13	$1.57M	18.7%	17.44K	14.18K
Common Stock Direct	11/5/2025	S · Sale	−1.28K	$482.41	$619.42K	9.1%	14.18K	12.90K
Common Stock Direct	11/5/2025	S · Sale	−2.07K	$483.41	$1M	16.0%	12.90K	10.83K
Common Stock Direct	11/5/2025	S · Sale	−1.93K	$484.78	$936.10K	17.8%	10.83K	8.90K
Common Stock Direct	11/5/2025	S · Sale	−1.01K	$485.54	$489.42K	11.3%	8.90K	7.89K
Common Stock Direct	11/5/2025	S · Sale	−827.00	$486.73	$402.53K	10.5%	7.89K	7.06K
Common Stock Direct	11/5/2025	S · Sale	−2.77K	$487.49	$1.35M	39.3%	7.06K	4.29K
Common Stock Direct	11/5/2025	S · Sale	−696.00	$489.09	$340.41K	16.2%	4.29K	3.59K
Common Stock Direct	11/5/2025	S · Sale	−933.00	$489.95	$457.12K	26.0%	3.59K	2.66K
Common Stock Direct	11/5/2025	S · Sale	−30.00	$490.98	$14.73K	1.1%	2.66K	2.63K
Total			+0.00		-$4.63M

Derivative Transactions3

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

5.47K shares

−5.47K

Strike price

9.45

Held after

0.00

Exercisable

—

11/5/2025

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

10K shares

−10K

Strike price

303.79

Held after

0.00

Exercisable

—

11/5/2025

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Common Stock

1.10K shares

−1.10K

Strike price

280.04

Held after

0.00

Exercisable

—

11/5/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable
Stock Option (Right to Buy) Direct	Common Stock5.47K shares	11/5/2025	M · Option Exercise	−5.47K	9.45	—
Stock Option (Right to Buy) Direct	Common Stock10K shares	11/5/2025	M · Option Exercise	−10K	303.79	—
Stock Option (Right to Buy) Direct	Common Stock1.10K shares	11/5/2025	M · Option Exercise	−1.10K	280.04	—