Arcutis ex-officer plans sale of 342K shares

Former officer Larry Todd Edwards has filed a Rule 144 notice to potentially sell 341,980 ARQT shares, a small portion of the 125,691,961 shares outstanding.

Rhea-AI Filing Summary

Arcutis Biotherapeutics, Inc. (ARQT) is the issuer for which former officer Larry Todd Edwards filed a Form 144 notice of proposed sale of restricted or control securities. The notice covers up to 341,980 shares of Arcutis common stock, with an aggregate market value of $8,549,500, to be sold through Merrill Lynch on or after September 16, 2026.

The shares relate to stock option exercises dated September 27, 2023 (170,000 shares), January 12, 2024 (113,667 shares), February 28, 2025 (50,292 shares), and February 27, 2026 (8,021 shares), all for cash. Arcutis common shares outstanding were 125,691,961 as of this notice; this is a baseline figure, not the amount being offered.

Key Figures

Shares to be sold under Rule 144: 341,980 shares Aggregate market value of shares: $8,549,500 Shares outstanding: 125,691,961 shares +4 more

7 metrics

Shares to be sold under Rule 144 341,980 shares Maximum number of Arcutis common shares covered by the Form 144 notice

Aggregate market value of shares $8,549,500 Aggregate market value for the 341,980 shares subject to the Form 144

Shares outstanding 125,691,961 shares Arcutis common shares outstanding as referenced in the Form 144

Stock option exercise tranche 170,000 shares Shares from September 27, 2023 stock option exercise included in the notice

Stock option exercise tranche 113,667 shares Shares from January 12, 2024 stock option exercise included in the notice

Stock option exercise tranche 50,292 shares Shares from February 28, 2025 stock option exercise included in the notice

Stock option exercise tranche 8,021 shares Shares from February 27, 2026 stock option exercise included in the notice

Key Terms

Rule 144, Form 144, stock option exercise, aggregate market value, +1 more

5 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Form 144 regulatory

"144: Filer Information"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

stock option exercise financial

"Common | 09/27/2023 | Stock Option Exercise | Arcutis Biotherapeutics"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

aggregate market value financial

"| 341980 | 8549500 | 125691961 | 09/16/2026 |"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

former Officer regulatory

"Former Officer 144: Securities Information"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filing for ARQT disclose?

It discloses that former Arcutis Biotherapeutics, Inc. officer Larry Todd Edwards filed a Form 144 to potentially sell up to 341,980 shares of ARQT common stock under Rule 144 through Merrill Lynch, with an indicated aggregate market value of $8,549,500 as of the notice date.

How many Arcutis (ARQT) shares does the Form 144 cover and what is their value?

The notice covers up to 341,980 shares of Arcutis common stock, with an indicated aggregate market value of $8,549,500. This represents the maximum amount the filer is registering for potential sale under Rule 144, not a guarantee that all shares will be sold.

How does the planned sale compare to ARQT shares outstanding?

Arcutis reported 125,691,961 shares of common stock outstanding in the Form 144 context. The 341,980 shares covered by the notice are a small fraction of this baseline figure, which is provided for context and is not the amount being offered.

What is the source of the ARQT shares in the Form 144 filing?

The shares derive from stock option exercises by Larry Todd Edwards on four dates: September 27, 2023 (170,000 shares), January 12, 2024 (113,667), February 28, 2025 (50,292), and February 27, 2026 (8,021), all exercised for cash.

When can the ARQT shares in this Form 144 be sold?

The Form 144 lists an approximate date of sale of September 16, 2026 for the covered shares. This date indicates when sales under the notice may begin, but it does not ensure that any or all of the 341,980 shares will actually be sold.

Who is the broker and on which market will the ARQT shares be sold?

The proposed sales are through Merrill Lynch, with the common stock listed on NASDAQ. The Form 144 identifies Merrill Lynch as the broker and specifies NASDAQ as the securities exchange for the potential sale of Arcutis common shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 04:08 PM Accepted by SEC EDGAR 09/16/2026 - 04:08 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001994805
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Arcutis Biotherapeutics, Inc.
SEC File Number	001-39186
Address of Issuer	3027 Towns Gate Rd Ste 300 Westlake Village CALIFORNIA 91361
Phone	805-418-5006
Name of Person for Whose Account the Securities are To Be Sold	Larry Todd Edwards
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Former Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Merrill Lynch 8890 Lyra Drive 5th Floor Columbus OH 43240	341980	8549500	125691961	09/16/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/27/2023	Stock Option Exercise	Arcutis Biotherapeutics			170000	09/16/2026	Cash
Common	01/12/2024	Stock Option Exercise	Arcutis Biotherapeutics			113667	09/16/2026	Cash
Common	02/28/2025	Stock Option Exercise	Arcutis Biotherapeutics			50292	09/16/2026	Cash
Common	02/27/2026	Stock Option Exercise	Arcutis Biotherapeutics			8021	09/16/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	09/16/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Larry Todd Edwards
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)