Arcutis EVP exercises options, sells 15K shares
Arcutis Biotherapeutics EVP and Chief Medical Officer Patrick Burnett reported an exercise-and-sell transaction in company stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Arcutis Biotherapeutics EVP and Chief Medical Officer Patrick Burnett reported an exercise-and-sell transaction in company stock. On August 11 and 12, 2026, he exercised stock options for a total of 15,000 shares of common stock at an exercise price of $3.64 per share and sold the same 15,000 shares in open-market transactions at weighted average prices of $26.52 and $26.08, respectively. The filing does not state his remaining share or option holdings.
Insider Trade Summary
Exercise and Sale: 15,000 shares ($340K approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
Burnett Patrick
Role
See Remarks
Sold
15,000 shs ($395K)
Approx. gross sale proceeds
$395K
Approx. exercise cost
$55K
Approx. pre-tax spread
$340K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) F1 | 6,700 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 6,700 | $3.64 | $24K |
| Sale | Common Stock F1, F3 | 6,700 | $26.0847 | $175K |
| Exercise | Stock Option (right to buy) F1 | 8,300 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 8,300 | $3.64 | $30K |
| Sale | Common Stock F1, F2 | 8,300 | $26.5216 | $220K |
Holdings After Transaction:
Stock Option (right to buy) — 128,750 contracts (Direct);
Common Stock — 119,289 shares (Direct)
Footnotes (3)
- F1. On January 12, 2024, the Reporting Person was granted options, in which 1/48th of the shares subject to the option vest on each monthly anniversary measured from January 12, 2024 (the "Vesting Commencement Date"), such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.
- F2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $26.50 to $26.57, 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 price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $26.00 to $26.19, 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.
Key Figures
Total shares sold: 15,000 shares
Options exercised: 15,000 shares
Option exercise price: $3.6400 per share
+4 more
7 metrics
Total shares sold
15,000 shares
Common stock sold by Patrick Burnett on August 11–12, 2026
Options exercised
15,000 shares
Stock options converted into common stock on August 11–12, 2026
Option exercise price
$3.6400 per share
Exercise price for stock options granted January 12, 2024
Sale price 11 Aug 2026
$26.5216 per share
Weighted average price for 8,300 shares sold August 11, 2026
Sale price 12 Aug 2026
$26.0847 per share
Weighted average price for 6,700 shares sold August 12, 2026
Option expiration date
2034-01-12
Expiration for the stock options exercised
Vesting period
4 years
Options fully vest by the fourth anniversary of January 12, 2024
Key Terms
Stock Option (right to buy), weighted average sale price, Vesting Commencement Date, Common Stock
4 terms
Stock Option (right to buy) financial
"security_title: Stock Option (right to buy)"
weighted average sale price financial
"The price reported in Column 4 is a weighted average sale price."
Vesting Commencement Date financial
"measured from January 12, 2024 (the "Vesting Commencement Date"), such that 100% of the shares"
The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.
Common Stock financial
"underlying_security_title: Common Stock"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Arcutis Biotherapeutics (ARQT) insider Patrick Burnett report in this Form 4?
Patrick Burnett, EVP and Chief Medical Officer of Arcutis Biotherapeutics, reported exercising 15,000 stock options at $3.64 per share and selling 15,000 common shares in open-market transactions on August 11–12, 2026.
What options did Patrick Burnett exercise in Arcutis Biotherapeutics (ARQT)?
He exercised stock options covering 15,000 shares of Arcutis common stock at an exercise price of $3.6400 per share. These options were originally granted on January 12, 2024 and are scheduled to fully vest over four years from that vesting commencement date.
Were Patrick Burnett’s Arcutis (ARQT) transactions under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not checked, meaning these August 11–12, 2026 transactions are not affirmatively reported as being made pursuant to a Rule 10b5-1 trading plan based on the filing’s data.
What is the vesting schedule for the Arcutis (ARQT) options exercised by Patrick Burnett?
For the options granted on January 12, 2024, 1/48th of the shares vest on each monthly anniversary of that date. The footnote states 100% of the shares will be vested and exercisable on the fourth anniversary, subject to continued service.
Does the Form 4 state Patrick Burnett’s remaining Arcutis (ARQT) holdings?
The reported transactions provide no post-transaction share totals. Total shares or options held by Patrick Burnett after the August 11–12, 2026 exercises and sales are not stated in the transaction data included here.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates