ARQT insider sells 36,130 shares at $16.16 under 10b5-1 plan

Q: What did Masaru Matsuda sell and when (ARQT)?

Mr. Matsuda sold 36,130 shares of ARQT common stock on 09/04/2025.

Q: Who signed the Form 4?

The Form 4 was signed by Latha Vairavan as attorney-in-fact for Masaru Matsuda on 09/08/2025.

Masaru Matsuda, SVP General Counsel and Corporate Secretary of Arcutis Biotherapeutics, Inc. (ARQT), reported the sale of 36,130 shares of the issuer's common stock on 09/04/2025.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Masaru Matsuda, SVP General Counsel and Corporate Secretary of Arcutis Biotherapeutics, Inc. (ARQT), reported the sale of 36,130 shares of the issuer's common stock on 09/04/2025. The shares were sold in multiple transactions at prices ranging from $15.93 to $16.3787, with a reported weighted-average sale price of $16.156. Following these dispositions, Mr. Matsuda beneficially owns 161,234 shares. The transactions were made pursuant to a Rule 10b5-1 trading plan adopted on June 5, 2025 with a plan end date of September 4, 2026. The Form 4 was signed by an attorney-in-fact on 09/08/2025.

Positive

Transaction conducted under a documented 10b5-1 plan, indicating pre-arranged, rule-compliant sales.
Full price range and weighted-average price disclosed, offering transparency about execution prices.
Post-transaction beneficial ownership disclosed (161,234 shares), providing clear holdings information.

Negative

Insider sale of 36,130 shares is a net disposition of company stock by a senior executive.

Insights

TL;DR Routine insider sale executed under a documented 10b5-1 plan, with full price range disclosed.

The Form 4 shows a compliant, pre-arranged disposition of 36,130 shares under a 10b5-1 plan adopted June 5, 2025. The filer disclosed the weighted-average sale price and the full range of per-share prices, and indicated willingness to provide trade-by-trade details on request. From a compliance perspective this filing demonstrates adherence to Rule 10b5-1 documentation and public reporting requirements.

TL;DR Insider sale by a senior officer is disclosed transparently; materiality appears limited given disclosed holdings.

The reported sale reduced the reporting person's holdings to 161,234 shares. The filing explicitly ties the trades to a 10b5-1 plan and provides the executed price range. As a governance matter, the presence of an executed plan and attorney-in-fact signature indicate procedural controls. The filing does not state any other corporate action or unusual event.

Insider Trade Summary

Net Seller: 36,130 shares

Net Sell 1 txn

Insider Matsuda Masaru

Role See Remarks

Sold 36,130 shs ($584K)

Type	Security	Shares	Price	Value
Sale	Common Stock	36,130	$16.156	$584K

Holdings After Transaction: Common Stock — 161,234 shares (Direct)

Footnotes (2)

F1. The transactions reported in this Form 4 were 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.
F2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $15.93 to $16.3787, 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.

FAQ

What did Masaru Matsuda sell and when (ARQT)?

Mr. Matsuda sold 36,130 shares of ARQT common stock on 09/04/2025.

At what prices were the ARQT shares sold?

The shares were sold in multiple transactions at prices ranging from $15.93 to $16.3787, with a weighted-average price of $16.156.

Were the sales part of a Rule 10b5-1 trading plan?

Yes. The transactions were effected pursuant to a 10b5-1 trading plan adopted on June 5, 2025 with a plan end date of September 4, 2026.

How many ARQT shares does the reporting person own after the sale?

Following the reported dispositions, the reporting person beneficially owns 161,234 shares.

Who signed the Form 4?

The Form 4 was signed by Latha Vairavan as attorney-in-fact for Masaru Matsuda on 09/08/2025.

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

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Accepted by SEC EDGAR 09/08/2025 - 05:14 PM

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).

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

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/04/2025		S⁽¹⁾		36,130⁽¹⁾	D	$16.156⁽²⁾	161,234	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The transactions reported in this Form 4 were 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 $15.93 to $16.3787, 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: SVP General Counsel and Corporate Secretary

	/s/ Latha Vairavan, as Attorney-in-Fact for Masaru Matsuda	09/08/2025
	** 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.

Source: View Original Filing on SEC EDGAR

ARQT insider sells 36,130 shares at $16.16 under 10b5-1 plan