<SEC-DOCUMENT>0001104659-25-015318.txt : 20250219
<SEC-HEADER>0001104659-25-015318.hdr.sgml : 20250219
<ACCEPTANCE-DATETIME>20250219214428
ACCESSION NUMBER: 0001104659-25-015318
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20250214
FILED AS OF DATE: 20250219
DATE AS OF CHANGE: 20250219
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Garfield Alastair
CENTRAL INDEX KEY: 0002027261
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38223
FILM NUMBER: 25643020
MAIL ADDRESS:
STREET 1: C/O RHYTHM PHARMACEUTICALS
STREET 2: 222 BERKELEY STREET, SUITE 1200
CITY: BOSTON
STATE: MA
ZIP: 02116
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: RHYTHM PHARMACEUTICALS, INC.
CENTRAL INDEX KEY: 0001649904
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
ORGANIZATION NAME: 03 Life Sciences
IRS NUMBER: 462159271
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 222 BERKELEY STREET
STREET 2: 12TH FLOOR
CITY: BOSTON
STATE: MA
ZIP: 02116
BUSINESS PHONE: 857-264-4280
MAIL ADDRESS:
STREET 1: 222 BERKELEY STREET
STREET 2: 12TH FLOOR
CITY: BOSTON
STATE: MA
ZIP: 02116
FORMER COMPANY:
FORMER CONFORMED NAME: RHYTHM METABOLIC, INC.
DATE OF NAME CHANGE: 20150803
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm257103-2_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
<schemaVersion>X0508</schemaVersion>
<documentType>4</documentType>
<periodOfReport>2025-02-14</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
<issuer>
<issuerCik>0001649904</issuerCik>
<issuerName>RHYTHM PHARMACEUTICALS, INC.</issuerName>
<issuerTradingSymbol>RYTM</issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik>0002027261</rptOwnerCik>
<rptOwnerName>Garfield Alastair</rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1>222 BERKELEY STREET, 12TH FLOOR</rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity>BOSTON</rptOwnerCity>
<rptOwnerState>MA</rptOwnerState>
<rptOwnerZipCode>02116</rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Chief Scientific Officer</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<aff10b5One>0</aff10b5One>
<derivativeTable>
<derivativeTransaction>
<securityTitle>
<value>Restricted Stock Units</value>
</securityTitle>
<conversionOrExercisePrice>
<footnoteId id="F1"/>
</conversionOrExercisePrice>
<transactionDate>
<value>2025-02-14</value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>26650</value>
</transactionShares>
<transactionPricePerShare>
<value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<footnoteId id="F2"/>
</exerciseDate>
<expirationDate>
<footnoteId id="F2"/>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value>26650</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>26650</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction>
<securityTitle>
<value>Stock Options (Right to Buy)</value>
</securityTitle>
<conversionOrExercisePrice>
<value>56.69</value>
</conversionOrExercisePrice>
<transactionDate>
<value>2025-02-14</value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>40000</value>
</transactionShares>
<transactionPricePerShare>
<value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<footnoteId id="F3"/>
</exerciseDate>
<expirationDate>
<value>2035-02-13</value>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value>40000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>40000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes>
<footnote id="F1">Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.</footnote>
<footnote id="F2">The restricted stock units vest as to 25% of the total shares on each of February 14, 2026, February 14, 2027, February 14, 2028 and February 14, 2029. The restricted stock units have no expiration date.</footnote>
<footnote id="F3">The options vest and become exercisable, subject to the Reporting Person's continued service to the Issuer through the applicable vesting date, as to 6.25% of the total number of shares of common stock subject to the options upon the Reporting Person's completion of each successive three months of service to the Issuer after February 14, 2025, such that the option shall be fully vested and exercisable on February 14, 2029.</footnote>
</footnotes>
<remarks>Exhibit 24 - Power of Attorney</remarks>
<ownerSignature>
<signatureName>/s/ Stephen Vander Stoep, attorney-in-fact for Alastair Garfield</signatureName>
<signatureDate>2025-02-19</signatureDate>
</ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>tm257103d2_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">
<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 24</B></P>
<P STYLE="margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>POWER OF ATTORNEY</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>KNOW
ALL BY THESE PRESENTS</B></FONT>, that the undersigned hereby constitutes and appoints each of David Meeker, M.D., Jim Flaherty, Hunter
Smith and Stephen Vander Stoep signing singly, as his true and lawful attorney-in-fact to:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(1) execute for and on behalf of
the undersigned, in the undersigned’s capacity as a director of Rhythm Pharmaceuticals, Inc. (the “Company”), Forms
3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder and any other
forms or reports the undersigned may be required to file in connection with the undersigned’s ownership, acquisition, or disposition
of securities of the Company;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(2) do and perform any and all
acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, or 5, or
other form or report, and timely file such form or report with the U.S. Securities and Exchange Commission and any stock exchange or similar
authority; and</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(3) take any other action of any
type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest
of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the
undersigned, pursuant to this Power of Attorney, shall be in such form and shall contain such terms and conditions as such attorney-in-fact
may approve in his discretion.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The undersigned hereby grants
to each such attorney-in-fact full power and authority to do and perform each and every act and thing whatsoever requisite, necessary,
and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned
might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact, or his substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the
rights and powers herein granted. The undersigned acknowledges that no such attorney-in-fact, in serving in such capacity at the request
of the undersigned, is hereby assuming any of the undersigned’s responsibilities to comply with Section 13 and Section 16
of the Securities Exchange Act of 1934 and the rules thereunder, as amended.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Power of Attorney shall remain in full force
and effect until revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF</B></FONT>, the undersigned has caused this Power of Attorney to be executed as of this 1st day of October, 2024.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5in"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt"> </FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"><FONT STYLE="font-size: 10pt">/s/ Alastair Garfield</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt"> </FONT></TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alastair Garfield</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
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