Rhythm Pharmaceuticals, Inc. reported an insider ownership change involving Alastair Garfield, with the transaction dated July 1, 2026. The Form 4 indicates activity in the company’s common stock tied to the vesting of restricted stock units, rather than an open-market purchase or sale. Garfield received 12,208 shares of Rhythm common stock in connection with the vesting of restricted stock units. The filing lists the shares at $110.41 per share, implying a reported value of approximately $1.35 million for the vesting event. Each restricted stock unit represents a contingent right to receive one share of Rhythm common stock. At the same time, 2,150 shares were withheld by the company at $110.41 per share to satisfy tax withholding obligations arising from the RSU vesting. That withholding represented roughly $237,382 in value. After the tax withholding, the net number of shares delivered from the reported vesting would be 10,058 shares, before considering any other holdings. The RSUs involved are part of an award that vests in four equal annual installments: 25% on each of the first four anniversaries of July 1, 2024, provided Garfield continues to serve through each vesting date. The units have no expiration date. The filing does not provide a clear post-transaction total beneficial ownership figure in the text supplied. The report was signed on July 2, 2026, by Stephen Vander Stoep as attorney-in-fact for Alastair Garfield. The key takeaway is that the insider ownership change reflects scheduled equity compensation vesting and related tax-share withholding, not a discretionary market transaction.