Arcutis director corrects indirect share holdings

Arcutis Biotherapeutics director Patrick J. Heron filed an amended insider report that corrects his indirect share holdings.

Rhea-AI Filing Summary

Arcutis Biotherapeutics director Patrick J. Heron filed an amended insider report that corrects his indirect share holdings. A prior Form 4 understated the number of common shares indirectly held through Frazier Life Sciences X, L.P. by 2,646 shares due to a scrivener's error. After this correction, 27,448 shares of common stock are reported as indirectly held. These shares are owned of record by Frazier Life Sciences X, L.P., whose general partners are affiliated entities where Heron is one of two managing members. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Heron Patrick J

Role Director

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 27,448 shares (Indirect, By Frazier Life Sciences X, L.P.)

Footnotes (2)

1. F1. Due to a scrivener's error on the Reporting Person's Form 4 filed on June 9, 2026, the number of shares of common stock indirectly held by the Reporting Person through Frazier Life Sciences X, L.P. reflected a discrepancy that inadvertently understated the Reporting Person's indirect beneficial ownership by 2,646 shares. The correct number of shares so indirectly held by the Reporting Person is reflected in this Form 4/A.
2. F2. The shares reported herein are held of record by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. The Reporting Person is one of two managing members of FHMLS X, L.L.C. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.

Key Figures

Indirect holdings after correction: 27,448 shares Understated amount corrected: 2,646 shares Reported transactions: 0 buy / 0 sell

3 metrics

Indirect holdings after correction 27,448 shares Common stock indirectly held after Form 4/A amendment

Understated amount corrected 2,646 shares Discrepancy in prior indirect beneficial ownership report

Reported transactions 0 buy / 0 sell Form 4/A transaction summary shows only a holding entry

Key Terms

scrivener's error, indirect beneficial ownership, held of record, pecuniary interest, +1 more

5 terms

scrivener's error regulatory

"Due to a scrivener's error on the Reporting Person's Form 4 filed on June 9, 2026..."

indirect beneficial ownership financial

"...inadvertently understated the Reporting Person's indirect beneficial ownership by 2,646 shares."

held of record financial

"The shares reported herein are held of record by Frazier Life Sciences X, L.P."

pecuniary interest financial

"The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein..."

Section 16 regulatory

"...shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes."

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

FAQ

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

What does the latest Form 4/A for Arcutis (ARQT) disclose about Patrick Heron?

The Form 4/A shows director Patrick J. Heron corrected his indirect share count in Arcutis. A previous filing understated holdings; the amendment updates his reported indirect beneficial ownership through Frazier Life Sciences X, L.P. without reporting any new share purchases or sales.

How many Arcutis (ARQT) shares does Patrick Heron now report indirectly holding?

Patrick J. Heron now reports 27,448 Arcutis common shares indirectly held. These shares are owned of record by Frazier Life Sciences X, L.P., and the amendment clarifies his indirect beneficial ownership position rather than reflecting a new transaction in the stock.

What error did the amended Arcutis (ARQT) Form 4/A correct?

The amended Form 4/A corrects a scrivener's error that understated Patrick Heron’s indirect beneficial ownership by 2,646 shares. The prior Form 4 misreported the count, and this amendment updates the number of common shares held through Frazier Life Sciences X, L.P.

Were any Arcutis (ARQT) shares bought or sold in this Form 4/A filing?

The Form 4/A does not report new Arcutis share purchases or sales by Patrick Heron. Instead, it revises previously reported indirect holdings to accurately reflect the number of common shares held through Frazier Life Sciences X, L.P. after discovering a reporting error.

Who actually holds the Arcutis (ARQT) shares reported in Patrick Heron’s Form 4/A?

The shares are held of record by Frazier Life Sciences X, L.P. Related entities act as its general partners, and Patrick Heron is one of two managing members. He disclaims beneficial ownership beyond his pecuniary interest in these indirectly held Arcutis common shares.

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

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Accepted by SEC EDGAR 06/12/2026 - 05:55 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Heron Patrick J

(Last) (First) (Middle)

C/O ARCUTIS BIOTHERAPEUTICS, INC.

3027 TOWNSGATE ROAD, SUITE 300

(Street)

WESTLAKE VILLAGE CALIFORNIA 91361

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Arcutis Biotherapeutics, Inc. [ ARQT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/09/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								27,448(1)	I	By Frazier Life Sciences X, L.P.(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Due to a scrivener's error on the Reporting Person's Form 4 filed on June 9, 2026, the number of shares of common stock indirectly held by the Reporting Person through Frazier Life Sciences X, L.P. reflected a discrepancy that inadvertently understated the Reporting Person's indirect beneficial ownership by 2,646 shares. The correct number of shares so indirectly held by the Reporting Person is reflected in this Form 4/A.

2. The shares reported herein are held of record by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. The Reporting Person is one of two managing members of FHMLS X, L.L.C. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.

Remarks:

	/s/ Latha Vairavan, Attorney-in-Fact for Patrick J. Heron	06/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)