Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-20

Madrigal Pharmaceuticals (MDGL)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$19,206,341
Bill Sibold total, FY2025
CEO pay percentile vs peers
47:1
CEO-to-median pay ratio
97.13%
Say-on-pay support, latest vote
Companies that benchmark against MDGL
20 companies name MDGL as a compensation peer

Each company listed discloses MDGL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named MDGL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Bill Sibold$918,531$0$12,297,850$4,537,146$1,438,814$0$14,000$19,206,341
President and Chief Executive Officer
David Soergel418,18275,0005,911,8092,201,587584,100009,190,678
Executive Vice President and Chief Medical Officer
Rebecca Taub617,50004,124,3821,521,590604,544006,868,016
Senior Scientific and Medical Advisor and Former President, Research & Development and Chief Medical Officer
Mardi Dier566,04203,561,5391,313,997554,165089,3466,085,089
Executive Vice President and Chief Financial Officer
Carole Huntsman540,31303,186,9371,175,671528,97609,8395,441,736
Executive Vice President and Chief Commercial Officer
Shannon Kelley535,16702,999,6361,106,611523,938014,0005,179,352
Executive Vice President and Chief Legal Counsel

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Bill Sibold$19,206,341
David Soergel9,190,678
Rebecca Taub6,868,016
Mardi Dier6,085,089
Carole Huntsman5,441,736
Shannon Kelley5,179,352

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
David SoergelChief Medical Officer2026-05-18D844$516$435,420CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D723517373,694CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D320508162,637CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D4051320,519CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D610511311,952CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D657516338,961CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D439513224,988CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D343515176,532CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D8052041,598CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D782519405,669CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D15151077,064CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D1,497518774,835CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D4050720,267CommonForm 4 ↗
David SoergelChief Medical Officer2026-06-01D1,042496516,561CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A90800CommonForm 4 ↗
Rebecca TaubDirector2026-06-17A45400CommonForm 4 ↗
Dividend-equivalent accruals2026-06-176,8096 insiders, 7 accrual rows
Jacqualyn A. FouseDirector2026-06-17A45400CommonForm 4 ↗
James M. DalyDirector2026-06-17A45400CommonForm 4 ↗
Richard S. LevyDirector2026-06-17A45400CommonForm 4 ↗
Daniel J. BrennanDirector2026-06-17A40400CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A90800CommonForm 4 ↗
Bill SiboldDirector2026-07-17D11054459,817CommonForm 4 ↗
Bill SiboldDirector2026-07-17D280555155,414CommonForm 4 ↗
Bill SiboldDirector2026-07-17D275546150,070CommonForm 4 ↗
Bill SiboldDirector2026-07-17D545545296,869CommonForm 4 ↗
Bill SiboldDirector2026-07-17D1551551CommonForm 4 ↗
Bill SiboldDirector2026-07-17D14054375,984CommonForm 4 ↗
Bill SiboldDirector2026-07-17A50,000CommonForm 4 ↗
Bill SiboldDirector2026-07-17D15355084,152CommonForm 4 ↗
Bill SiboldDirector2026-07-17D4754925,797CommonForm 4 ↗
Bill SiboldDirector2026-07-17D269547147,164CommonForm 4 ↗
Bill SiboldDirector2026-07-17D680548372,435CommonForm 4 ↗
Bill SiboldDirector2026-07-17D50,00000Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 40 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
David SoergelChief Medical Officer2026-05-18D844$516$435,420CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D723517373,694CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D320508162,637CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D4051320,519CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D610511311,952CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D657516338,961CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D439513224,988CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D343515176,532CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D8052041,598CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D782519405,669CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D15151077,064CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D1,497518774,835CommonForm 4 ↗
Richard S. LevyDirector2026-05-22D4050720,267CommonForm 4 ↗
David SoergelChief Medical Officer2026-06-01D1,042496516,561CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A90800CommonForm 4 ↗
Rebecca TaubDirector2026-06-17A45400CommonForm 4 ↗
James M. DalyDirector2026-06-17A76600Derivative, Class A CommonForm 4 ↗
Daniel J. BrennanDirector2026-06-17A68100Derivative, Class A CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A1,53200Derivative, Class A CommonForm 4 ↗
Rebecca TaubDirector2026-06-17A76600Derivative, Class A CommonForm 4 ↗
Richard S. LevyDirector2026-06-17A76600Derivative, Class A CommonForm 4 ↗
Jacqualyn A. FouseDirector2026-06-17A45400CommonForm 4 ↗
James M. DalyDirector2026-06-17A45400CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A1,53200Derivative, Class A CommonForm 4 ↗
Richard S. LevyDirector2026-06-17A45400CommonForm 4 ↗
Jacqualyn A. FouseDirector2026-06-17A76600Derivative, Class A CommonForm 4 ↗
Daniel J. BrennanDirector2026-06-17A40400CommonForm 4 ↗
BAKER BROS. ADVISORS LPDirector2026-06-17A90800CommonForm 4 ↗
Bill SiboldDirector2026-07-17D11054459,817CommonForm 4 ↗
Bill SiboldDirector2026-07-17D280555155,414CommonForm 4 ↗
Bill SiboldDirector2026-07-17D275546150,070CommonForm 4 ↗
Bill SiboldDirector2026-07-17D545545296,869CommonForm 4 ↗
Bill SiboldDirector2026-07-17D1551551CommonForm 4 ↗
Bill SiboldDirector2026-07-17D14054375,984CommonForm 4 ↗
Bill SiboldDirector2026-07-17A50,000CommonForm 4 ↗
Bill SiboldDirector2026-07-17D15355084,152CommonForm 4 ↗
Bill SiboldDirector2026-07-17D4754925,797CommonForm 4 ↗
Bill SiboldDirector2026-07-17D269547147,164CommonForm 4 ↗
Bill SiboldDirector2026-07-17D680548372,435CommonForm 4 ↗
Bill SiboldDirector2026-07-17D50,00000Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Bill SiboldOPTION2025-03-0522,009$4,537,146
Mardi DierRSU2025-03-053,7841,314,108
David SoergelPSU2025-05-153,7727,54515,0903,710,027
Bill SiboldPSU2025-03-056,53313,06626,1327,760,289
Carole HuntsmanOPTION2025-03-055,7031,175,671
Shannon KelleyPSU2025-03-051,5933,1876,3741,892,855
Rebecca TaubOPTION2025-03-057,3811,521,590
Mardi DierPSU2025-03-051,8923,7847,5682,247,431
Shannon KelleyRSU2025-03-053,1871,106,781
Carole HuntsmanPSU2025-03-051,6933,3866,7722,011,047
Mardi DierOPTION2025-03-056,3741,313,997
Rebecca TaubRSU2025-03-054,3821,521,781
Rebecca TaubPSU2025-03-052,1914,3828,7642,602,601
David SoergelRSU2025-05-157,5452,201,782
David SoergelOPTION2025-05-1512,8392,201,587
Carole HuntsmanRSU2025-03-053,3861,175,890
Bill SiboldRSU2025-03-0513,0664,537,560
Shannon KelleyOPTION2025-03-055,3681,106,611
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Bill Sibold$4,537,560$7,760,289$4,537,14646.1%
Mardi Dier1,314,1082,247,4311,313,99746.1%
David Soergel2,201,7823,710,0272,201,58745.7%
Carole Huntsman1,175,8902,011,0471,175,67146.1%
Shannon Kelley1,106,7811,892,8551,106,61146.1%
Rebecca Taub1,521,7812,602,6011,521,59046.1%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
David SoergelPSU15,090$8,787,511
Rebecca TaubRSU4,3822,551,814
Shannon KelleyRSU2,0751,208,356
Rebecca TaubPSU8,7645,103,628
Carole HuntsmanRSU3,9172,281,026
Mardi DierRSU6,6563,876,055
Shannon KelleyRSU3,1871,855,918
Rebecca TaubPSU11,5726,738,838
Bill SiboldPSU26,13215,217,709
Bill SiboldRSU13,0667,608,854
Mardi DierPSU7,5684,407,149
Bill SiboldPSU24,50014,267,330
Rebecca TaubRSU4,3392,526,773
Mardi DierRSU3,7842,203,575
Carole HuntsmanRSU2,7291,589,206
Bill SiboldRSU9,1875,349,958
Rebecca TaubOption4,904229
Rebecca TaubOption7,381347.28
Bill SiboldOption22,009347.28
Bill SiboldOption10,383229
David SoergelOption12,839291.82
Mardi DierOption7,511251.63
Carole HuntsmanOption5,038190.05
Shannon KelleyOption5,376244.5
Rebecca TaubOption3,84487.09
Carole HuntsmanOption5,703347.28
Shannon KelleyOption2,345243.92
Bill SiboldRSU25,00014,558,500
Mardi DierPSU17,75010,336,535
Rebecca TaubRSU10,0005,823,400
David SoergelRSU7,5454,393,755
Carole HuntsmanPSU7,2784,238,271
Shannon KelleyPSU6,3743,711,835
Carole HuntsmanRSU3,3861,971,803
Carole HuntsmanOption3,084229
Bill SiboldPSU50,00029,117,000
Carole HuntsmanPSU6,7723,943,606
Shannon KelleyRSU3,9112,277,532
Mardi DierOption6,374347.28
Shannon KelleyOption5,368347.28
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary objectives of our compensation program are to: Enable us to attract and retain highly qualified executives with extensive industry, business or scientific experience by providing a competitive compensation package that includes long-term incentives that provide significant retentive value; Reward our executives for our success in achieving annual operational goals and realization of our long-term strategic objectives; and Align the interests of our executives with those of our stockholders.

CEO STI target (% of salary)80%
CEO LTI target (% of salary)
Independent consultantCompensia
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1719,000,895561,05829,03197.13%Passed
20252025-06-2018,720,175208,91121,81798.9%Passed
20242024-06-2515,585,020781,21211,52295.23%Passed
20232023-06-1513,908,736940,30216,13093.67%Passed
20222022-06-1511,637,547111,93216,75599.05%Passed
20212021-06-1713,492,590230,9878,48298.32%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-1797.13%a
20252025-06-2098.9%b
20242024-06-2595.23%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the results of this vote.”.

b. Approved under the standard stated in the filing — “Abstentions are not considered votes cast on Proposal 2 and will have no effect on the results of this vote.”.

c. Approved under the standard stated in the filing — “Abstentions are not considered votes cast on Proposal 2 and will have no effect on the results of this vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)47 : 1
CEO total compensation$19,206,341
Median employee compensation$403,403
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Jacqualyn A. Fouse, Ph.DIndependent · Audit · Compensation · Nominating/Governance · Newly elected$56,792$704,952$0$0$0$761,744
Daniel J. BrennanIndependent · Audit (Chair) · Newly elected28,646584,451000613,097
Julian C. BakerIndependent · Board Chair · Nominating/Governance (Chair)94,000409,397000503,397
Richard S. Levy, M.DIndependent · Compensation (Chair) · Science and Technology · Nominating/Governance85,500409,397000494,897
Raymond Cheong, M.D., Ph.DIndependent · Compensation · Science and Technology (Chair) · Nominating/Governance85,500409,397000494,897
Kenneth M. BateIndependent · Compensation · Departed during FY79,000409,397000488,397
James M. DalyIndependent · Audit · Nominating/Governance67,625409,397000477,022
Paul A. Friedman, M.DNot independent · Science and Technology · Not standing for re-election59,750409,397000469,147
Fred B. Craves, Ph.DIndependent · Compensation · Departed during FY39,37500039,375
Rebecca Taub, M.DEmployee director00000
Bill SiboldEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$409,397
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)24,500 / 20,000 / 10,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$596,188
Equity awards (grant-date value)$3,745,785
All other compensation$0
Total cost of the board$4,341,973

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Madrigal Pharmaceuticals names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Madrigal Pharmaceuticals.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Exelixis2025Michael Morrissey$1,306,040$30,539,552$0$1,382,591$33,239,183
2Madrigal Pharmaceuticals2025Bill Sibold918,53112,297,8504,537,1461,438,81419,206,341
3Alnylam Pharmaceuticals2025Yvonne Greenstreet1,404,2005,512,5004,363,3803,562,50014,867,600
4Insmed2025William Lewis854,5502,999,9409,000,0331,495,46314,467,393
5Ionis Pharmaceuticals2025Brett Monia1,051,7768,444,8381,438,105013,350,777
6Cytokinetics2025Robert Blum853,0695,150,0195,095,918772,71511,881,456
7Apellis Pharmaceuticals2024Cedric Francois793,1934,779,8324,787,768010,957,451
8Intra-Cellular Therapies2023Sharon Mates891,6537,749,9840010,086,413
9CRISPR Therapeutics AG2025Samarth Kulkarni768,6223,474,9002,768,862659,0937,678,477

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Madrigal Pharmaceuticals195%PSU 33 · RSU 33 · Options 33Yes — Relative TSR vs Nasdaq Biotechnology IndexCompensia
Alnylam Pharmaceuticals200%PSU 50 · RSU 25 · Options 25NoPay Governance
Apellis Pharmaceuticals90.74%not disclosedYes — Total Shareholder Return (TSR) relative to NASDAQ Biotechnology IndexPay Governance
CRISPR Therapeutics AG122.5%not disclosednot disclosedAlpine Rewards, LLC
Cytokinetics120%RSU 50 · Options 50not disclosedAon Human Capital Solutions
Exelixis105%PSU 50 · RSU 50Yes — 2025 Relative TSR GoalAon
Insmed175%Options 75 · RSU 25NoWillis Towers Watson (WTW)
Intra-Cellular Therapies150%RSU 75 · PSU 25Yes — Total Stockholder Return (TSR) relative to Nasdaq Biotechnology IndexAon Consulting, Inc.
Ionis Pharmaceuticals228%RSU 67 · PSU 33Yes — Relative TSRAon Human Capital Solutions

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Bill SiboldDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 19,206,341. Filing ↗machine: r2 · c24 · span 791942–791952
2Section 01, David SoergelDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 9,190,678. Filing ↗machine: r7 · c24 · span 806633–806642
3Section 01, Rebecca TaubDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 6,868,016. Filing ↗machine: t115 · r13 · c14 · span 824649–824658
4Section 01, Mardi DierDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 6,085,089. Filing ↗machine: r5 · c24 · span 800611–800620
5Section 01, Carole HuntsmanDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 5,441,736. Filing ↗machine: r8 · c24 · span 809935–809944
6Section 01, Shannon KelleyDEF 14A2026-04-280001308179-26-000352Section “Summary Compensation Table” · page 47. As printed: 5,179,352. Filing ↗machine: r11 · c24 · span 818596–818605
7Section 03, Bill Sibold OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r4 · c8 · span 738539–738545
8Section 03, Mardi Dier RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r5 · c1 · span 741403–741408
9Section 03, David Soergel PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r6 · c1 · span 745520–745525
10Section 03, Bill Sibold PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r4 · c1 · span 737510–737516
11Section 03, Carole Huntsman OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r7 · c8 · span 750492–750497
12Section 03, Shannon Kelley PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r8 · c1 · span 753389–753394
13Section 03, Rebecca Taub OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r9 · c8 · span 758662–758667
14Section 03, Mardi Dier PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r5 · c1 · span 741403–741408
15Section 03, Shannon Kelley RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r8 · c1 · span 753389–753394
16Section 03, Carole Huntsman PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r7 · c1 · span 749450–749455
17Section 03, Mardi Dier OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r5 · c8 · span 742445–742450
18Section 03, Rebecca Taub RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r9 · c1 · span 757396–757401
19Section 03, Rebecca Taub PSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r9 · c1 · span 757396–757401
20Section 03, David Soergel RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r6 · c1 · span 745520–745525
21Section 03, David Soergel OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r6 · c8 · span 746562–746568
22Section 03, Carole Huntsman RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r7 · c1 · span 749450–749455
23Section 03, Bill Sibold RSUDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r4 · c1 · span 737510–737516
24Section 03, Shannon Kelley OPTIONDEF 14A2026-04-280001308179-26-000352Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t110 · r8 · c8 · span 754431–754436
25Section 07, pay ratioDEF 14A2026-04-280001308179-26-000352Section “CEO Pay Ratio”. As printed: 47 : 1. Filing ↗machine: span 1064390–1064394
26Section 08, Jacqualyn A. Fouse, Ph.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 761,744. Filing ↗machine: t146 · r8 · c7 · span 1274500–1274507
27Section 08, Daniel J. BrennanDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 613,097. Filing ↗machine: t146 · r4 · c7 · span 1267465–1267472
28Section 08, Julian C. BakerDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 503,397. Filing ↗machine: t146 · r2 · c7 · span 1263787–1263794
29Section 08, Richard S. Levy, M.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 494,897. Filing ↗machine: t146 · r10 · c7 · span 1278101–1278108
30Section 08, Raymond Cheong, M.D., Ph.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 494,897. Filing ↗machine: t146 · r5 · c7 · span 1269143–1269150
31Section 08, Kenneth M. BateDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 488,397. Filing ↗machine: t146 · r3 · c7 · span 1265624–1265631
32Section 08, James M. DalyDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 477,022. Filing ↗machine: t146 · r7 · c7 · span 1272651–1272658
33Section 08, Paul A. Friedman, M.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 469,147. Filing ↗machine: t146 · r9 · c7 · span 1276173–1276180
34Section 08, Fred B. Craves, Ph.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 39,375. Filing ↗machine: t146 · r6 · c1 · span 1269933–1269939
35Section 08, Rebecca Taub, M.DDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 0. Filing ↗
36Section 08, Bill SiboldDEF 14A2026-04-280001308179-26-000352Section “Director Compensation”. As printed: 0. Filing ↗
37Section 02, David Soergel 2026-05-18Form 42026-05-180001628280-26-036078Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Richard S. Levy 2026-05-22Form 42026-05-220001628280-26-037830Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, David Soergel 2026-06-01Form 42026-06-010001628280-26-039653Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, BAKER BROS. ADVISORS LP 2026-06-17Form 42026-06-180001193125-26-275800Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Rebecca Taub 2026-06-17Form 42026-06-180001628280-26-044346Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, James M. Daly 2026-06-17Form 42026-06-180001628280-26-044307Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Daniel J. Brennan 2026-06-17Form 42026-06-180001628280-26-044290Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, BAKER BROS. ADVISORS LP 2026-06-17Form 42026-06-180001193125-26-275800Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Rebecca Taub 2026-06-17Form 42026-06-180001628280-26-044346Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Richard S. Levy 2026-06-17Form 42026-06-180001628280-26-044340Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Jacqualyn A. Fouse 2026-06-17Form 42026-06-180001628280-26-044325Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, James M. Daly 2026-06-17Form 42026-06-180001628280-26-044307Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, BAKER BROS. ADVISORS LP 2026-06-17Form 42026-06-180001193125-26-275800Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Richard S. Levy 2026-06-17Form 42026-06-180001628280-26-044340Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Jacqualyn A. Fouse 2026-06-17Form 42026-06-180001628280-26-044325Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Daniel J. Brennan 2026-06-17Form 42026-06-180001628280-26-044290Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, BAKER BROS. ADVISORS LP 2026-06-17Form 42026-06-180001193125-26-275800Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Bill Sibold 2026-07-17Form 42026-07-200001628280-26-048919Insider equity transaction reported since the proxy statement. Filing ↗
77Section 06, 2026 voteForm 8-K2026-06-170001104659-26-075130Item 5.07 · say-on-pay result. As reported: 97.13% (votes for as printed: 19,000,895). Filing ↗
78Section 06, 2025 voteForm 8-K2025-06-200001628280-25-032358Item 5.07 · say-on-pay result. As reported: 98.9% (votes for as printed: 18,720,175). Filing ↗
79Section 06, 2024 voteForm 8-K2024-06-270001193125-24-170634Item 5.07 · say-on-pay result. As reported: 95.23% (votes for as printed: 15,585,020). Filing ↗
80Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
81Section 09b board cost (computed)ComputedcomputedCash 596,188 + equity 3,745,785 + all other 0 = 4,341,973, summed across the director compensation table rows.machine: formula: Σ = 4,341,973
82Exelixis, Section 10b CEO totalDEF 14A2026-04-150000939767-26-000046CEO total compensation as printed in Exelixis's own proxy. As printed: 33,239,183. Filing ↗machine: r2 · c10 · span 2655516–2655526
83Madrigal Pharmaceuticals (subject), Section 10b CEO totalDEF 14A2026-04-280001308179-26-000352CEO total compensation as printed in Madrigal Pharmaceuticals's own proxy. As printed: 19,206,341. Filing ↗machine: r2 · c24 · span 791942–791952
84Alnylam Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-060001628280-26-023923CEO total compensation as printed in Alnylam Pharmaceuticals's own proxy. As printed: 14,867,600. Filing ↗machine: span 1294691–1294701
85Insmed, Section 10b CEO totalDEF 14A2026-04-010001104506-26-000022CEO total compensation as printed in Insmed's own proxy. As printed: 14,467,393. Filing ↗machine: r4 · c51 · span 912553–912563
86Ionis Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-230001140361-26-016388CEO total compensation as printed in Ionis Pharmaceuticals's own proxy. As printed: 13,350,777. Filing ↗machine: t325 · r3 · c25 · span 1543650–1543661
87Cytokinetics, Section 10b CEO totalDEF 14A2026-04-170001140361-26-015364CEO total compensation as printed in Cytokinetics's own proxy. As printed: 11,881,456. Filing ↗machine: r2 · c25 · span 777093–777103
88Apellis Pharmaceuticals, Section 10b CEO totalDEF 14A2025-04-230000950170-25-056966CEO total compensation as printed in Apellis Pharmaceuticals's own proxy. As printed: 10,957,451. Filing ↗machine: r2 · c25 · span 951555–951565
89Intra-Cellular Therapies, Section 10b CEO totalDEF 14A2024-04-290001628280-24-018986CEO total compensation as printed in Intra-Cellular Therapies's own proxy. As printed: 10,086,413. Filing ↗machine: r2 · c39 · span 440593–440603
90CRISPR Therapeutics AG, Section 10b CEO totalDEF 14A2026-04-210001193125-26-165158CEO total compensation as printed in CRISPR Therapeutics AG's own proxy. As printed: 7,678,477. Filing ↗machine: t21 · r2 · c26 · span 821649–821658
91Section 10a, Insmed reciprocityDEF 14A0001104506-26-000022Insmed's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
92Section 10a, Ionis Pharmaceuticals reciprocityDEF 14A0001140361-26-016388Ionis Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
93Section 10a, CRISPR Therapeutics AG reciprocityDEF 14A0001193125-26-165158CRISPR Therapeutics AG's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
94Section 10a, Alnylam Pharmaceuticals reciprocityDEF 14A0001628280-26-023923Alnylam Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
95Section 10a, Apellis Pharmaceuticals reciprocityDEF 14A0000950170-25-056966Apellis Pharmaceuticals names Madrigal Pharmaceuticals in its own disclosed peer group (read from its most recent proxy). Filing ↗
96Section 10a, Exelixis reciprocityDEF 14A0000939767-26-000046Exelixis's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
97Section 10a, Intra-Cellular Therapies reciprocityDEF 14A0001628280-24-018986Intra-Cellular Therapies's most recent proxy was read; its disclosed peer group does not include Madrigal Pharmaceuticals. Filing ↗
98Section 10a, Cytokinetics reciprocityDEF 14A0001140361-26-015364Cytokinetics names Madrigal Pharmaceuticals in its own disclosed peer group (read from its most recent proxy). Filing ↗