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2025-12-31 iso4217:USD pure 0001157601 false DEF 14A MADRIGAL PHARMACEUTICALS, INC. true <div style="margin-bottom:16pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">We typically grant initial equity awards to new employees, including our executive officers, and annual equity grants as part of our overall compensation program. The timing of annual equity grants has been generally consistent, with a first quarter grant each year approved at a regularly scheduled meeting of our Compensation Committee with a grant date following the filing of our Annual Report on Form 10-K. It is the policy of the Board and the Compensation Committee to not take material nonpublic information into account when determining the timing of equity awards in order to take advantage of a depressed stock price or an anticipated increase in stock price. Similarly, it is our practice not to time the release of material nonpublic information based on equity award grant dates or for the purpose of affecting the value of executive compensation. There were not any stock options granted to the Company’s NEOs in 2025 during the period from four business days before to one business day after the filing of the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q or the filing or furnishing of any Current Reports on Form 8-K that disclosed material nonpublic information.</span></div> We typically grant initial equity awards to new employees, including our executive officers, and annual equity grants as part of our overall compensation program. The timing of annual equity grants has been generally consistent, with a first quarter grant each year approved at a regularly scheduled meeting of our Compensation Committee with a grant date following the filing of our Annual Report on Form 10-K. The timing of annual equity grants has been generally consistent, with a first quarter grant each year approved at a regularly scheduled meeting of our Compensation Committee with a grant date following the filing of our Annual Report on Form 10-K. It is the policy of the Board and the Compensation Committee to not take material nonpublic information into account when determining the timing of equity awards in order to take advantage of a depressed stock price or an anticipated increase in stock price. Similarly, it is our practice not to time the release of material nonpublic information based on equity award grant dates or for the purpose of affecting the value of executive compensation. There were not any stock options granted to the Company’s NEOs in 2025 during the period from four business days before to one business day after the filing of the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q or the filing or furnishing of any Current Reports on Form 8-K that disclosed material nonpublic information. true false false <div style="margin-bottom:16pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">The following table sets forth information concerning the compensation paid to our CEO and to our other NEOs compared to certain measures of Company performance for the years ended December 31, 2025, 2024, 2023, 2022, and 2021. The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how we or the Compensation Committee view the link between our performance and our executives’ pay. For a discussion of how we view our executive compensation structure, including alignment with performance, see the CD&amp;A beginning on page <a href="#if5ea48c7d6c247e38c0c52f0543f7dbd_64" style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%;text-decoration:none">34</a> in this proxy statement. The use of the term “compensation actually paid” (or “CAP”) is required by the SEC’s rules. CAP has been prepared in accordance with Item 402(v) of Regulation S-K under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and does not reflect value actually realized by the executives in the periods presented.</span></div><div style="margin-bottom:8pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">As described in greater detail in the CD&amp;A section of this proxy statement, our executive compensation programs reflect a pay-for-performance philosophy. Our compensation programs incorporate goals to link pay and performance in alignment with our business strategies and the interests of our stockholders. For 2025, net product revenue was a financial measure used in our annual incentive cash compensation program. Net product revenue was not considered prior to 2024 because we were not a revenue generating organization until we commenced commercialization activities in April 2024 and we did not have any product revenue in the years prior to 2024.</span></div><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.05pt">The values reflected in this column reflect the “Total” compensation set forth in the Summary Compensation Table (for purposes of this Pay Versus Performance section, “SCT”) on page <a href="#if5ea48c7d6c247e38c0c52f0543f7dbd_103" style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:none">47</a> of this proxy statement. See the footnotes to the SCT for further detail regarding the amounts in this column.</span><div style="margin-bottom:4pt;padding-left:14.4pt;text-indent:-14.4pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.05pt">CAP is defined by the SEC and is computed in accordance with SEC rules by subtracting the amounts in the “Stock Awards” (as applicable) and “Option Awards” column of the SCT for each year from the “Total” column of the SCT and then: (i) adding the fair value as of the end of the reported year of all awards granted during the reporting year that are outstanding and unvested as of the end of the reporting year; (ii) adding the amount equal to the change as of the end of the reporting year (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior year that are outstanding and unvested as of the end of the reporting year; (iii) adding, for awards that are granted and vest in the reporting year, the fair value as of the vesting date; (iv) adding the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value (whether positive or negative) of any awards granted in any prior year for which all applicable vesting conditions were satisfied at the end of or during the reporting year; and (v) subtracting, for any awards granted in any prior year that are forfeited during the reporting year, the amount equal to the fair value at the end of the prior year. Valuation assumptions used to calculate fair values did not materially differ from those used to calculate fair values at the time of grant as reflected in the SCT. The following tables reflect the adjustments made to SCT total compensation to compute CAP for our CEO and average CAP for our other NEOs.</span></div><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.05pt">Amounts in thousands.</span><div style="margin-bottom:8pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">Compensation for our NEOs is determined based on a variety of factors, as further discussed in the CD&amp;A section of this proxy statement. The tabular list of financial performance measures included and defined below is used by the Company to link CAP to Company performance. We did not use any other financial performance metrics to directly link CAP to Company performance in 2025.</span></div> net product revenue <div style="margin-bottom:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:4.072%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.503%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.381%"></td><td style="width:0.1%"></td></tr><tr style="height:38pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Year</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Summary Compensation Table Total Pay for CEO </span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(1)(2)</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Bill Sibold</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Summary Compensation Table Total Pay for CEO </span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(1)(2)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> </span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Paul A. Friedman, </span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">M.D.</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">CAP to CEO</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> Bill Sibold</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">CAP to CEO</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Paul A.</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Friedman,</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">M.D.</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Average Summary Compensation Table Total Pay for Other NEOs</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Average </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">CAP to </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Other NEOs</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Value of Initial Fixed $100 Investment <br/>Based on:</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">GAAP </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Net </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Income </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">(Loss)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Net </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Product </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Revenue</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td></tr><tr style="height:29pt"><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Company TSR</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Peer Group TSR</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2025</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$19,206,341 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$84,097,793 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$6,552,974 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$16,559,703 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$524</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$125</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(288,284)</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$958,403 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$12,214,250 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$30,732,575 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,472,667 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,316,451 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$278</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$93</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(465,892)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$180,100 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2023</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$32,268,400 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$9,563,286 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$42,282,414 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$2,371,068 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,592,269 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(818,864)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$208</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$94</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(373,630)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2022</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,395,385 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$38,419,031 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,104,196 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$29,641,482 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$261</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$90</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(295,250)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2021</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,318,389 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$1,210,321 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,329,137 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$1,288,115 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$76</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$100</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(241,846)</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> <div style="margin-bottom:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:4.072%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.503%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.381%"></td><td style="width:0.1%"></td></tr><tr style="height:38pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Year</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Summary Compensation Table Total Pay for CEO </span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(1)(2)</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Bill Sibold</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Summary Compensation Table Total Pay for CEO </span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(1)(2)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> </span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Paul A. Friedman, </span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">M.D.</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">CAP to CEO</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> Bill Sibold</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">CAP to CEO</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%"> </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Paul A.</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Friedman,</span></div><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">M.D.</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Average Summary Compensation Table Total Pay for Other NEOs</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Average </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">CAP to </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Other NEOs</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Value of Initial Fixed $100 Investment <br/>Based on:</span></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">GAAP </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Net </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Income </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">(Loss)</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Net </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Product </span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:9.00pt"><br/></span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:9.00pt">Revenue</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:9.00pt;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td></tr><tr style="height:29pt"><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Company TSR</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:130%">Peer Group TSR</span><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:700;line-height:130%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2025</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$19,206,341 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$84,097,793 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$6,552,974 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$16,559,703 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$524</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$125</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(288,284)</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$958,403 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$12,214,250 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$30,732,575 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,472,667 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,316,451 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$278</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$93</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(465,892)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$180,100 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2023</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$32,268,400 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$9,563,286 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$42,282,414 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$2,371,068 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,592,269 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(818,864)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$208</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$94</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(373,630)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2022</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,395,385 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$38,419,031 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,104,196 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$29,641,482 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$261</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$90</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(295,250)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">2021</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$5,318,389 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$1,210,321 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$4,329,137 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$1,288,115 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$76</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$100</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">$(241,846)</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">— </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 19206341 84097793 6552974 16559703 524 125 -288284000 958403000 12214250 30732575 5472667 4316451 278 93 -465892000 180100000 32268400 9563286 42282414 2371068 5592269 -818864 208 94 -373630000 0 5395385 38419031 4104196 29641482 261 90 -295250000 0 5318389 1210321 4329137 1288115 76 100 -241846000 0 <span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.05pt">Bill Sibold was appointed CEO effective September 8, 2023; Paul A. Friedman served as CEO through September 8, 2023. For 2022 and 2021, the CEO was Dr. </span><span style="background-color:#ffffff;color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Friedman</span><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">. For 2025, the other NEOs were Mardi Dier, David Soergel, M.D., Carole Huntsman, Shannon Kelley and Rebecca Taub, M.D. For 2024, the other NEOs were Mardi Dier, Rebecca Taub, M.D., Carole Huntsman, Shannon Kelley, Alex Howarth and Brian Lynch. For 2023, the other NEOs were Rebecca Taub, M.D., Brian Lynch, Alex Howarth, Carole Huntsman and Remy Sukhija. For 2022, the other NEOs were Rebecca Taub, M.D., Brian Lynch, Remy Sukhija and Alex Howarth. For 2021, the other NEOs were Rebecca Taub, M.D., Brian Lynch, Remy Sukhija, Alex Howarth and Marc Schneebaum.</span> Bill Sibold Bill Sibold Bill Sibold Paul A. Friedman Paul A. Friedman Paul A. Friedman <span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.05pt">Reflects the cumulative TSR of the Company and the Nasdaq Biotechnology Index for the year ended December 31, 2021, the two-years ended December 31, 2022, the three years ended December 31, 2023, the four years ended December 31, 2024, and the five years ended December 31, 2025, assuming a $100 investment at the closing price on December 31, 2020 and the reinvestment of all dividends.</span> <div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CEO (Sibold)</span></div><div style="margin-bottom:16pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:8.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.681%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.112%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.403%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">SCT Total Comp</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Minus SCT Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus Change in <br/>Fair Value from <br/>Last Day of Prior <br/>Year to Last Day <br/>of Year of Unvested Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus Change in <br/>Fair Value from <br/>Last Day of Prior Year to <br/>Vesting Date of Unvested <br/>Equity Awards that Vested During Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Equals CAP</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2025</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$19,206,341 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(16,834,996)</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$29,461,864 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$32,993,808 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$19,270,776 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$84,097,793 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$12,214,250 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(10,363,804)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$13,884,294 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$14,841,460 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$156,375 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$30,732,575 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2023</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$32,268,400 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(31,205,000)</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$41,219,014 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$42,282,414 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CEO (Friedman)</span></div><div style="margin-bottom:16pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:7.664%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.147%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.014%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.397%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">SCT Total Comp</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Minus SCT Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Year-End Fair Value <br/>of Equity Awards <br/>Granted During Year That Remained Unvested as of Last Day of Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Change in Fair Value <br/>from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Equals CAP</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2023</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$9,563,286 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(7,999,867)</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$6,170,442 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(3,271,953)</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(2,090,840)</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$2,371,068 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2022</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$5,395,385 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(4,239,900)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$18,078,963 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$9,291,946 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$9,892,637 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$38,419,031 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2021</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$5,318,389 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(4,267,500)</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$2,696,917 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(1,228,699)</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(1,308,786)</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$1,210,321 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 19206341 -16834996 29461864 32993808 19270776 84097793 12214250 -10363804 13884294 14841460 156375 30732575 32268400 -31205000 41219014 0 0 42282414 9563286 -7999867 6170442 -3271953 -2090840 2371068 5395385 -4239900 18078963 9291946 9892637 38419031 5318389 -4267500 2696917 -1228699 -1308786 1210321 <div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other NEOs (Average)</span></div><div style="margin-bottom:16pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:5.796%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.693%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.968%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.244%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.819%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.543%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">SCT Total Comp</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Minus SCT Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Fair Value at Vesting of Equity Awards Granted and Vested During Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Plus<br/>Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Minus<br/>Fair Value at Last Day of Prior Year of Equity Awards Granted in Prior Years that Failed to Meet Vesting Conditions During Year</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#00014d;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:130%">Equals CAP</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2025</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$6,552,974</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(5,420,752)</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$9,907,224</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$5,006,942</span></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$513,315 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:1pt solid #ff6c00;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="2" style="border-top:1pt solid #ff6c00;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$16,559,703 </span></td><td style="border-top:1pt solid #ff6c00;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2024</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$5,472,667</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(4,487,648)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$4,283,685</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$518,348 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$111,503 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(248,606)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(1,333,498)</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$4,316,451 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2023</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$5,592,269</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(4,509,651)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$3,004,087</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(1,790,661)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(2,199,912)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(914,997)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(818,864)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2022</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$4,104,196</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(3,292,689)</span></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$14,322,661</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$8,017,461 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$6,489,853 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td><td colspan="3" style="border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="2" style="border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$29,641,482 </span></td><td style="border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">2021</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$4,329,137</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(3,558,540)</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$1,814,098</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(646,123)</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$(650,457)</span></td><td colspan="3" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$0</span></td><td colspan="2" style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">$1,288,115 </span></td><td style="border-bottom:1pt solid #c5d8de;border-top:0.5pt solid #c5d8de;padding:2px 1pt 2px 0;text-align:left;vertical-align:top"></td></tr></table></div> 6552974 -5420752 9907224 5006942 0 513315 0 16559703 5472667 -4487648 4283685 518348 111503 -248606 -1333498 4316451 5592269 -4509651 3004087 -1790661 0 -2199912 -914997 -818864 4104196 -3292689 14322661 8017461 0 6489853 0 29641482 4329137 -3558540 1814098 -646123 0 -650457 0 1288115 <div style="margin-bottom:8pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">The following graphs illustrate the relationship during 2021 to 2025 of the CAP to our CEO(s) and the average CAP to our other NEOs (each as set forth in the table above) to (i) our cumulative TSR and the cumulative TSR of the Nasdaq Biotechnology Index, (ii) our net loss calculated under GAAP and (iii) Net product revenue for 2025.</span></div><div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Compensation Actually Paid Versus Total Shareholder Return</span></div><div style="margin-bottom:8pt;text-align:center"><img alt="24189255847478" id="i-207" src="mdgl-20260428_g114.jpg" style="height:345px;margin-bottom:5pt;vertical-align:text-bottom;width:576px"/></div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.379%"><tr><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.780%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.579%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.981%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.950%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.550%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Blue Legend.jpg" id="i-208" src="mdgl-20260428_g115.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - B. Sibold</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Orange Legend.jpg" id="i-209" src="mdgl-20260428_g116.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - NEOs</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Cyan Legend.jpg" id="i-210" src="mdgl-20260428_g117.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - P. Friedman</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Yellow Legend.jpg" id="i-211" src="mdgl-20260428_g118.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">MDGL TSR</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Sky Blue Legend.jpg" id="i-212" src="mdgl-20260428_g119.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Peer TSR</span></td></tr></table></div> <div style="margin-bottom:8pt"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%">The following graphs illustrate the relationship during 2021 to 2025 of the CAP to our CEO(s) and the average CAP to our other NEOs (each as set forth in the table above) to (i) our cumulative TSR and the cumulative TSR of the Nasdaq Biotechnology Index, (ii) our net loss calculated under GAAP and (iii) Net product revenue for 2025.</span></div><div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Compensation Actually Paid Versus Total Shareholder Return</span></div><div style="margin-bottom:8pt;text-align:center"><img alt="24189255847478" id="i-207" src="mdgl-20260428_g114.jpg" style="height:345px;margin-bottom:5pt;vertical-align:text-bottom;width:576px"/></div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.379%"><tr><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.780%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.579%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.981%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.950%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.550%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Blue Legend.jpg" id="i-208" src="mdgl-20260428_g115.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - B. Sibold</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Orange Legend.jpg" id="i-209" src="mdgl-20260428_g116.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - NEOs</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Cyan Legend.jpg" id="i-210" src="mdgl-20260428_g117.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - P. Friedman</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Yellow Legend.jpg" id="i-211" src="mdgl-20260428_g118.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">MDGL TSR</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Sky Blue Legend.jpg" id="i-212" src="mdgl-20260428_g119.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Peer TSR</span></td></tr></table></div> <div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Compensation Actually Paid Versus Net Income</span></div><div style="margin-bottom:8pt;text-align:center"><img alt="24189255847672" id="i-213" src="mdgl-20260428_g120.jpg" style="height:345px;margin-bottom:5pt;vertical-align:text-bottom;width:576px"/></div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:81.034%"><tr><td style="width:1.0%"></td><td style="width:5.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.807%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.325%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.290%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Blue Legend.jpg" id="i-214" src="mdgl-20260428_g115.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - B. Sibold</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Orange Legend.jpg" id="i-215" src="mdgl-20260428_g116.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - NEOs</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Cyan Legend.jpg" id="i-216" src="mdgl-20260428_g117.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - P. Friedman</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Yellow Legend.jpg" id="i-217" src="mdgl-20260428_g118.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">MDGL Net Income</span></td></tr></table></div> <div style="margin-bottom:5pt"><span style="color:#000477;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Compensation Actually Paid Versus Net Product Revenue</span></div><div style="margin-bottom:8pt;text-align:center"><img alt="24189255847769" id="i-218" src="mdgl-20260428_g121.jpg" style="height:345px;margin-bottom:5pt;vertical-align:text-bottom;width:576px"/></div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:82.471%"><tr><td style="width:1.0%"></td><td style="width:5.694%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.495%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.694%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.056%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.694%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.934%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.694%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.939%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Blue Legend.jpg" id="i-219" src="mdgl-20260428_g115.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - B. Sibold</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Orange Legend.jpg" id="i-220" src="mdgl-20260428_g116.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - NEOs</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div style="text-align:center"><img alt="02_MDGL_PVP_Cyan Legend.jpg" id="i-221" src="mdgl-20260428_g117.jpg" style="height:4px;margin-bottom:5pt;vertical-align:text-bottom;width:19px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">CAP - P. Friedman</span></td><td colspan="3" style="padding:0 1pt;vertical-align:middle"><div><img alt="02_MDGL_PVP_Yellow Legend.jpg" id="i-222" src="mdgl-20260428_g118.jpg" style="height:3px;margin-bottom:5pt;vertical-align:text-bottom;width:28px"/></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#262626;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:130%">Net Product Revenue</span></td></tr></table></div> <span style="color:#262626;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:130%;padding-left:7.65pt">Net product revenue</span><span style="color:#ff6c00;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:130%">•</span>Relative TSR versus the Nasdaq Biotechnology Index Net product revenue Relative TSR versus the Nasdaq Biotechnology Index