ARQT Form 4: Director Exercises Option and Sells 10,000 Shares

Arcutis Biotherapeutics director Howard G. Welgus executed planned transactions under a 10b5-1 trading plan on 09/02/2025.

Rhea-AI Filing Summary

Arcutis Biotherapeutics director Howard G. Welgus executed planned transactions under a 10b5-1 trading plan on 09/02/2025. He exercised a fully vested stock option with a $1.6806 exercise price to acquire 10,000 shares and concurrently sold 10,000 common shares at a weighted average price of $15.6383, with sale prices ranging from $15.45 to $15.81. After these transactions he beneficially owned 100,206 shares. The 10b5-1 plan was adopted March 11, 2025, and runs through May 29, 2026.

Positive

• Transactions executed under a documented 10b5-1 trading plan
• Option exercised is fully vested
• Form discloses weighted average sale price and range

Negative

• Director sold 10,000 shares, reducing direct holdings

Insights

Securities Analyst

TL;DR: Director exercised a vested option then sold the same number of shares under a 10b5-1 plan; ownership modestly adjusted.

The Form 4 discloses a paired transaction: a stock option exercise (10,000 shares at $1.6806) and the sale of 10,000 common shares at a weighted average of $15.6383. The sales were effected pursuant to a 10b5-1 plan adopted on March 11, 2025. The option is fully vested and the post-transaction beneficial ownership is 100,206 shares. For investors, this is a routine insider liquidity event executed under a pre-established plan; no additional company operational metrics are disclosed in this filing.

Corporate Governance Expert

TL;DR: Use of a documented 10b5-1 plan and attorney-in-fact signature indicates procedural compliance.

The filing explicitly states the transactions were made pursuant to a 10b5-1 trading plan with a specified adoption and end date, and the Form 4 is signed by an attorney-in-fact. The report identifies the reporting person as a director and notes the option exercised is fully vested. The disclosure is concise and focused on ownership changes; there are no indications of amendments or incomplete reporting within the provided content.

Insider Trade Summary

Exercise and Sale: 10,000 shares ($140K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Welgus Howard G.

Role Director

Sold 10,000 shs ($156K)

Approx. gross sale proceeds $156K

Approx. exercise cost $17K

Approx. pre-tax spread $140K

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	10,000	$0.00	$0.00
Exercise	Common Stock	10,000	$0.00	$0.00
Sale	Common Stock	10,000	$15.6383	$156K

Holdings After Transaction: Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 100,206 shares (Direct)

Footnotes (3)

1. F1. The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on March 11, 2025, by the Reporting Person, with a plan end date of May 29, 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 $15.45 to $15.81, 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. This option is fully vested.

FAQ

What transactions did Howard G. Welgus report on Form 4 for ARQT?

He reported exercising a stock option to acquire 10,000 shares at an exercise price of $1.6806 and selling 10,000 common shares on 09/02/2025.

At what price were the ARQT shares sold according to the Form 4?

The shares were sold at a weighted average price of $15.6383, with individual sale prices ranging from $15.45 to $15.81.

Was the option exercised by the reporting person vested?

Yes, the Form 4 states that the option is fully vested.

Was the sale executed pursuant to a 10b5-1 plan?

Yes, the transactions were effected under a 10b5-1 trading plan adopted on March 11, 2025 with a plan end date of May 29, 2026.

How many shares does Howard G. Welgus beneficially own after the transactions?

Following the reported transactions he beneficially owned 100,206 shares.

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Accepted by SEC EDGAR 09/04/2025 - 06:41 PM 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^*

Welgus Howard G.

(Last) (First) (Middle)

C/O ARCUTIS BIOTHERAPEUTICS, INC.

3027 TOWNSGATE ROAD, SUITE 300

(Street)

WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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

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

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

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	09/02/2025		M(1)		10,000(1)	A	$0	110,206	D
Common Stock	09/02/2025		S(1)		10,000	D	$15.6383(2)	100,206	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
Stock Option (right to buy)	$1.6806	09/02/2025		M(1)			10,000	(3)	03/13/2029	Common Stock	10,000	$0	0	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on March 11, 2025, by the Reporting Person, with a plan end date of May 29, 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 $15.45 to $15.81, 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. This option is fully vested.

Remarks:

	/s/ Latha Vairavan, as Attorney-in-Fact for Howard G. Welgus	09/04/2025
	** 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.