[Form 4] Arcutis Biotherapeutics, Inc. Insider Trading Activity

Arcutis Biotherapeutics, Inc. officer Masaru Matsuda reported selling 8,256 shares of common stock on May 4, 2026 in open-market transactions.

Rhea-AI Filing Summary

Arcutis Biotherapeutics, Inc. officer Masaru Matsuda reported selling 8,256 shares of common stock on May 4, 2026 in open-market transactions. The filing states these sales were made to cover tax withholding obligations arising from the vesting of Restricted Stock Units.

The transactions were executed under a Rule 10b5-1 trading plan adopted on June 5, 2025, with a plan end date of September 4, 2026. Shares were sold at weighted average prices of $23.6106 and $23.2696 per share across multiple trades within disclosed price ranges. Following the sales, Matsuda directly holds 126,689 shares of Arcutis common stock.

Insider Trade Summary 10b5-1

Net Seller: 8,256 shares

Net Sell 2 txns

Insider Matsuda Masaru

Role See Remarks

Sold 8,256 shs ($192K)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,372	$23.2696	$172K
Sale	Common Stock	884	$23.6106	$21K

Holdings After Transaction: Common Stock — 126,689 shares (Direct)

Footnotes (5)

1. F1. The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on June 5, 2025, by the Reporting Person, with a plan end date of September 4, 2026.
2. F2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $23.1167 to $23.48, 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.
3. F3. Due to a scrivener's error on the Reporting Person's Form 4 filed on March 3, 2026, the number of shares of common stock beneficially owned by the Reporting Person reflected a discrepancy that inadvertently overstated the Reporting Person's beneficial ownership by 1,987 shares. The correct number of shares beneficially owned by the Reporting Person is reflected in this Form 4.
4. F4. 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.
5. F5. 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.

Key Figures

Total shares sold: 8,256 shares Tranche 1 shares sold: 884 shares Tranche 2 shares sold: 7,372 shares +5 more

8 metrics

Total shares sold 8,256 shares Open-market sales on May 4, 2026

Tranche 1 shares sold 884 shares Common stock at weighted average $23.6106

Tranche 2 shares sold 7,372 shares Common stock at weighted average $23.2696

Post-transaction holdings 126,689 shares Common stock directly owned after sales

Price range tranche 1 $23.1167–$23.48 Multiple sale transactions within this range

Price range tranche 2 $23.16–$23.93 Multiple sale transactions within this range

10b5-1 plan adoption date June 5, 2025 Start of trading plan governing these sales

10b5-1 plan end date September 4, 2026 Scheduled end of trading plan

Key Terms

Rule 10b5-1 trading plan, Restricted Stock Units, weighted average sale price

3 terms

Rule 10b5-1 trading plan financial

"The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on June 5, 2025..."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Restricted Stock Units financial

"represents shares sold by the Reporting Person to 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. The shares were sold in multiple transactions..."

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

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Accepted by SEC EDGAR 05/06/2026 - 07:40 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).

X

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^*

Matsuda Masaru

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

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)

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	05/04/2026		S(1)		7,372	D	$23.2696(2)	127,573(3)	D
Common Stock	05/04/2026		S(4)		884	D	$23.6106(5)	126,689	D

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. The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on June 5, 2025, by the Reporting Person, with a plan end date of September 4, 2026.

2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $23.1167 to $23.48, 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.

3. Due to a scrivener's error on the Reporting Person's Form 4 filed on March 3, 2026, the number of shares of common stock beneficially owned by the Reporting Person reflected a discrepancy that inadvertently overstated the Reporting Person's beneficial ownership by 1,987 shares. The correct number of shares beneficially owned by the Reporting Person is reflected in this Form 4.

4. 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.

5. 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.

Remarks:

Reporting Person's title: EVP, Chief Legal Officer

	/s/ Latha Vairavan, as Attorney-in-Fact for Masaru Matsuda	05/06/2026
	** 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)