Arcutis Biotherapeutics (ARQT) insider sells 3,172 shares for RSU taxes
Rhea-AI Filing Summary
Arcutis Biotherapeutics, Inc. director and officer Todd Watanabe reported an insider transaction involving company common stock. On May 4, 2026, he sold 3,172 shares at a weighted average price of $23.6106 per share. According to the filing, this sale was made to cover tax withholding obligations tied to the vesting of Restricted Stock Units, rather than a discretionary portfolio move.
Following the sale, Watanabe directly holds 720,755 common shares. The filing also lists additional indirect holdings through several trusts and an LLC, for which he is trustee or officer and where he disclaims beneficial ownership except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 3,172 shares
Net Sell
5 txns
Insider
Watanabe Todd
Role
See Remarks
Sold
3,172 shs ($75K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,172 | $23.6106 | $75K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 720,755 shares (Direct);
Common Stock — 175,776 shares (Indirect, By Trust);
Common Stock — 57,358 shares (Indirect, By LLC)
Footnotes (7)
- F1. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of Restricted Stock Units.
- F2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $23.16 to $23.93, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
- F3. The Reporting Person's holdings reflect a transfer to ex-spouse pursuant to a domestic relations order.
- F4. The securities are held of record by The John Franklin Watanabe Trust, of which the Reporting Person is the trustee. 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.
- F5. The securities are held of record by The Anderson Prest Watanabe Irrevocable Trust, of which the Reporting Person is the trustee. 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.
- F6. The securities are held of record by Watanabe Ventures, LLC, of which the Reporting Person is the Chief Operating Officer. 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.
- F7. The securities are held of record by The Watanabe 2016 Irrevocable Trust, of which the Reporting Person's children are beneficiaries. 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
Shares sold: 3,172 shares
Weighted average sale price: $23.6106 per share
Sale price range: $23.16–$23.93 per share
+5 more
8 metrics
Shares sold
3,172 shares
Open-market sale on May 4, 2026 to cover RSU tax withholding
Weighted average sale price
$23.6106 per share
Sale of 3,172 common shares
Sale price range
$23.16–$23.93 per share
Footnote describing multiple trade prices within the transaction
Direct holdings after sale
720,755 shares
Total common shares directly held following the May 4, 2026 sale
Trust holding 1
124,956 shares
Common stock held indirectly by trust, with beneficial ownership disclaimed
LLC holding
57,358 shares
Common stock held indirectly by Watanabe Ventures, LLC
Trust holdings 2 and 3
25,410 shares each
Additional indirect trust positions where beneficial ownership is disclaimed
Net shares sold
3,172 shares
Net-sell direction from transaction summary on Form 4
Key Terms
Restricted Stock Units, weighted average sale price, domestic relations order, pecuniary interest, +1 more
5 terms
Restricted Stock Units financial
"cover tax withholding obligations in connection with the vesting of Restricted Stock Units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted average sale price financial
"The price reported in Column 4 is a weighted average sale price."
domestic relations order financial
"holdings reflect a transfer to ex-spouse pursuant to a domestic relations order."
pecuniary interest financial
"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"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Arcutis Biotherapeutics (ARQT) disclose for Todd Watanabe?
Arcutis Biotherapeutics reported that director and officer Todd Watanabe sold 3,172 shares of common stock. The transaction was executed at a weighted average price of $23.6106 per share and was disclosed on a Form 4 insider trading report.