Arcutis (ARQT) director Watanabe sells shares and receives large option, RSU awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Arcutis Biotherapeutics director and officer Todd Watanabe reported a mix of stock sales and new equity awards. On March 2, 2026, he sold a total of 37,349 shares of common stock in open-market transactions at weighted average prices of $25.1606 and $25.9139 per share. A footnote states these shares were sold to cover tax withholding obligations related to vesting restricted stock units (RSUs).
On February 27, 2026, he received an option covering 266,000 shares, vesting monthly over four years starting March 1, 2026, and a grant of 102,000 RSUs, vesting 25% annually each March 1 beginning in 2027. The filing also notes additional shares held by several trusts and an LLC, for which he disclaims beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 37,349 shares ($940,528)
Net Sell
8 txns
Insider
Watanabe Todd
Role
See Remarks
Sold
37,349 shs ($941K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 36,281 | $25.1606 | $913K |
| Sale | Common Stock | 1,068 | $25.9139 | $28K |
| Grant/Award | Stock Option (right to buy) | 266,000 | $0.00 | -- |
| Grant/Award | Common Stock | 102,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 787,025 shares (Direct);
Stock Option (right to buy) — 266,000 shares (Direct);
Common Stock — 25,410 shares (Indirect, By Trust)
Footnotes (1)
- Constitute Restricted Stock Units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting, in which 25% of the RSUs vest annually on March 1, (the "Vesting Commencement Date"), of each year beginning March 1, 2027, subject to the Reporting Person's continued service to the Issuer. 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 RSUs. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.6850 to $25.67, 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. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $25.70 to $26.10, 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. 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. 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. 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. 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. 1/48th of the shares subject to the option vest on each monthly anniversary measured from March 1, 2026 (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.
FAQ
What insider transactions did Todd Watanabe report at Arcutis Biotherapeutics (ARQT)?
Todd Watanabe reported both sales and grants. He sold 37,349 Arcutis common shares and received a 266,000-share stock option plus 102,000 RSUs, reflecting routine tax-related selling alongside significant new equity compensation awards tied to continued service with the company.
What new stock option grant did Todd Watanabe receive from Arcutis (ARQT)?
He received a stock option covering 266,000 Arcutis shares. One forty-eighth of the option vests monthly starting March 1, 2026, so the option becomes fully vested on the fourth anniversary, conditioned on his continued service to the company during that period.
What restricted stock unit (RSU) award did Todd Watanabe receive from Arcutis (ARQT)?
He was granted 102,000 RSUs, each convertible into one Arcutis common share upon vesting. Twenty-five percent of the RSUs vest annually on March 1 of each year, beginning March 1, 2027, so full vesting occurs over four years, subject to continued service.
How are Todd Watanabe’s indirect Arcutis (ARQT) holdings structured?
Additional Arcutis shares are held by several trusts and Watanabe Ventures, LLC. The filing notes he serves as trustee or officer for these entities and explicitly disclaims beneficial ownership of those securities, except to the extent of any pecuniary interest he may have.