Arcutis officer plans $342K stock sale under Rule 144

Arcutis Biotherapeutics, Inc. (ARQT) received a notice under Rule 144 that officer Masaru Matsuda plans to sell 13,663 shares of common stock through broker Merrill Lynch on or about September 8, 2026.

Rhea-AI Filing Summary

Arcutis Biotherapeutics, Inc. (ARQT) received a notice under Rule 144 that officer Masaru Matsuda plans to sell 13,663 shares of common stock through broker Merrill Lynch on or about September 8, 2026. The filing lists an aggregate market value of $341,933 for these planned sales and notes that 125,691,961 shares of common stock are outstanding. The shares derive from multiple restricted stock vesting events between May 2024 and August 2025, and the filing also reports a prior sale of 1,230 shares for $32,123.66 on August 3, 2026.

Key Figures

Shares to be sold: 13,663 shares Aggregate market value of planned sale: $341,933 Shares outstanding: 125,691,961 shares +4 more

7 metrics

Shares to be sold 13,663 shares Planned Rule 144 sale of Arcutis Biotherapeutics common stock

Aggregate market value of planned sale $341,933 Estimated value of 13,663 shares to be sold under Rule 144

Shares outstanding 125,691,961 shares Arcutis Biotherapeutics common stock outstanding in connection with this notice

Prior 3‑month sale shares 1,230 shares Shares sold on August 3, 2026, reported in the past three months section

Proceeds from prior sale $32,123.66 Total consideration for 1,230 shares sold on August 3, 2026

Restricted stock vesting May 1, 2024 4,072 shares Common stock from restricted stock vesting on May 1, 2024

Restricted stock vesting May 27, 2025 6,475 shares Common stock from restricted stock vesting on May 27, 2025

Key Terms

Rule 144, Restricted Stock Vesting, aggregate market value

3 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.

Restricted Stock Vesting financial

"Common | 05/01/2024 | Restricted Stock Vesting | Arcutis Biotherapeutics"

Restricted stock vesting is the timetable and conditions under which shares granted to employees or insiders become fully owned and can be sold, typically requiring continued work or meeting performance goals. It matters to investors because large blocks of shares can become tradable at once, which can change share supply and price, and because vesting aligns insiders’ incentives with the company’s long‑term performance—think of it like a timed unlock that both rewards and locks in key people.

aggregate market value financial

"Common | Merrill Lynch ... | 13663 | 341933 | 125691961"

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.

FAQ

What does the Form 144 filing disclose for Arcutis Biotherapeutics (ARQT)?

It discloses that officer Masaru Matsuda intends to sell 13,663 shares of Arcutis Biotherapeutics common stock under Rule 144, with an indicated aggregate market value of $341,933, using Merrill Lynch as broker around September 8, 2026.

How many Arcutis Biotherapeutics (ARQT) shares are outstanding in this notice?

The notice states that there are 125,691,961 shares of Arcutis Biotherapeutics common stock outstanding in connection with this planned Rule 144 sale.

What prior sales by Masaru Matsuda are reported in the Form 144 for ARQT?

The filing reports that 1,230 shares of Arcutis Biotherapeutics common stock were sold on August 3, 2026, for total proceeds of $32,123.66 during the prior three months.

What is the source of the ARQT shares to be sold under this Form 144?

The shares come from restricted stock vesting in Arcutis Biotherapeutics common stock on several dates: May 1, 2024; November 1, 2024; February 27, 2025; May 27, 2025; and August 1, 2025, with specific vested share amounts listed for each date.

Who is the broker for the planned Rule 144 sale of ARQT shares?

The planned sale of 13,663 shares of Arcutis Biotherapeutics common stock is listed as being handled by Merrill Lynch, located at 8890 Lyra Drive, 5th Floor, Columbus, Ohio.

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

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Available on EDGAR 09/08/2026 - 04:42 PM Accepted by SEC EDGAR 09/08/2026 - 04:41 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	0001798679
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	Masaru Matsuda
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	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	13663	341933	125691961	09/08/2026	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	05/01/2024	Restricted Stock Vesting	Arcutis Biotherapeutics			4072	05/01/2024	NA
Common	11/01/2024	Restricted Stock Vesting	Arcutis Biotherapeutics			840	11/01/2024	NA
Common	02/27/2025	Restricted Stock Vesting	Arcutis Biotherapeutics			200	02/27/2025	NA
Common	05/27/2025	Restricted Stock Vesting	Arcutis Biotherapeutics			6475	05/27/2025	NA
Common	08/01/2025	Restricted Stock Vesting	Arcutis Biotherapeutics			2076	08/01/2025	NA

* 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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Masaru Matsuda 3027 Townsgate Rd Suite 300 Westlake Village CA 91361	Common	08/03/2026	1230	32123.66

144: Remarks and Signature

Remarks
Date of Notice	09/08/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	06/05/2026
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	Masaru Matsuda
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)