[144] Arcutis Biotherapeutics, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for Arcutis Biotherapeutics, Inc. (ARQT) reports a proposed sale of 2,438 common shares with an aggregate market value of $37,969, against ~119,905,078 shares outstanding. The shares were acquired on 08/18/2025 via restricted stock vesting and the planned sale date is 08/21/2025 through Merrill Lynch on NASDAQ. The filer, identified elsewhere in the form, has completed multiple sales in the prior three months totaling 36,969 shares for gross proceeds of $369,869, indicating ongoing disposition of personal holdings rather than a single large block sale.

Positive

• Source of shares is restricted stock vesting, indicating compensation rather than an external purchase or transfer.
• Planned sale disclosed with broker and exchange (Merrill Lynch, NASDAQ), meeting Rule 144 transparency requirements.
• Filer included aggregated prior sales over three months, providing clearer investor transparency about insider dispositions.

Negative

• Insider has sold 36,969 shares in the past three months, which could be perceived negatively by some investors despite small absolute size.
• Planned sale occurs shortly after vesting (acquired 08/18/2025, planned sale 08/21/2025), which may raise questions about timing even though no material nonpublic information is claimed.

Insights

Securities Analyst

TL;DR: Routine insider sale from restricted stock vesting; modest size relative to outstanding shares, limited market impact.

The notice documents a planned sale of 2,438 shares acquired through restricted stock vesting on 08/18/2025 with a planned execution on 08/21/2025 via Merrill Lynch on NASDAQ. Recent dispositions by the same person total 36,969 shares over three months for $369,869, which suggests regular monetization of personal equity rather than a sudden liquidity event. Given the issuer's ~119.9 million shares outstanding, the amounts are immaterial to company capitalization and unlikely to move the market, though they provide transparency on insider selling activity.

Corporate Governance Expert

TL;DR: Disclosure aligns with Rule 144 requirements; representation about material nonpublic information is included.

The filer discloses the source of the shares (restricted stock vesting) and affirms they are not aware of undisclosed material adverse information, consistent with Rule 144 attestations. Multiple recent sales are disclosed and aggregated, meeting regulatory expectations for transparency. No information in the filing suggests governance concerns or regulatory noncompliance based on the provided facts.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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 Dr. 5th Floor Columbus OH 43240	2438	37969.00	119905078	08/21/2025	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	08/18/2025	Restricted stock vest	Arcutis Biotherapetics Inc			2438	08/18/2025	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
Patrick Burnett 3027 Townsgate Rd Ste 300 Westlake Village CA 91361	common	08/08/2025	3847	53873.00
Patrick Burnett 3027 Townsgate Rd Ste 300 Westlake Village CA 91361	Common	07/10/2025	23000	346047.00
Patrick Burnett 3027 Townsgate Rd Ste 300 Westlake Village CA 91361	Common	07/14/2025	5750	86654.00
Patrick Burnett 3027 Townsgate Rd Ste 300, Westlake Village CA 91361	Common	08/04/2025	2622	37486.00
Patrick Burnett 3027 Townsgate Rd Ste 300, Westlake Village CA 91361	Common	08/19/2025	1750	28228.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What shares does the Form 144 for ARQT report for proposed sale?

The filing reports a proposed sale of 2,438 common shares with an aggregate market value of $37,969.

When were the shares acquired and how?

The shares were acquired on 08/18/2025 through a restricted stock vest transaction from Arcutis Biotherapeutics, Inc.

When is the planned sale date and through which broker will it be executed?

The approximate sale date is 08/21/2025 and the broker listed is Merrill Lynch (execution on NASDAQ).

How many shares did the filer sell in the prior three months?

The filer sold a total of 36,969 shares in the past three months, generating gross proceeds of $369,869.

Does the filer state any material nonpublic information?

By signing the notice, the filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.