Arcutis (ARQT) CMO exercises options, sells 11,500 shares in plan trade

Rhea-AI Filing Summary

Arcutis Biotherapeutics Executive Vice President and Chief Medical Officer Patrick Burnett reported an option exercise and share sale in Arcutis Biotherapeutics, Inc. common stock. On 12/15/2025, he exercised a stock option for 11,500 shares at an exercise price of $3.64 per share, then sold 11,500 shares on the same date at a weighted average price of $28.9436 per share under transaction code S.

These trades were made pursuant to a Rule 10b5-1 trading plan adopted on 12/12/2024, with a plan end date of 02/27/2026. After the transactions, Burnett beneficially owned 98,307 shares of common stock directly and 143,750 stock options. The report also corrects a prior overstatement of his beneficial ownership by 18 shares due to a scrivener's error.

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

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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^*

Burnett Patrick

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		M(1)		11,500	A	$3.64	109,807(2)	D
Common Stock	12/15/2025		S(1)		11,500	D	$28.9436(3)	98,307	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)	$3.64	12/15/2025		M(1)			11,500	(4)	01/12/2034	Common Stock	11,500	$0	143,750	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on December 12, 2024, by the Reporting Person, with a plan end date of February 27, 2026.

2. Due to a scrivener's error on the Reporting Person's Form 4 filed on November 5, 2025, the number of shares of common stock beneficially owned by the Reporting Person was inadvertently overstated by 18 shares. The corrected number of shares beneficially owned is reflected in this Form 4.

3. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $28.61 to $29.20, 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.

4. 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.

Remarks:

Reporting Person's Title: Executive Vice President and Chief Medical Officer

	/s/ Latha Vairavan, as Attorney-in-Fact for Patrick Burnett	12/17/2025
	** 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.

FAQ

What insider transaction did ARQT executive Patrick Burnett report?

Patrick Burnett, Executive Vice President and Chief Medical Officer of Arcutis Biotherapeutics, Inc. (ARQT), reported exercising a stock option for 11,500 shares of common stock at $3.64 per share and selling 11,500 shares on 12/15/2025.

At what prices were Patrick Burnett’s ARQT shares exercised and sold?

Burnett exercised stock options at an exercise price of $3.64 per share and sold 11,500 shares of Arcutis common stock at a weighted average price of $28.9436 per share, with individual sale prices ranging from $28.61 to $29.20.

Was Patrick Burnett’s ARQT trade under a Rule 10b5-1 trading plan?

Yes. The transactions were effected under a Rule 10b5-1 trading plan adopted on 12/12/2024 by Patrick Burnett, with a stated plan end date of 02/27/2026.

How many ARQT shares does Patrick Burnett own after this transaction?

Following the reported transactions, Patrick Burnett beneficially owned 98,307 shares of Arcutis common stock directly and held 143,750 stock options.

Did the ARQT insider report include any corrections to prior share counts?

Yes. The report notes that a prior report filed on 11/05/2025 overstated Burnett's beneficially owned common stock by 18 shares due to a scrivener's error, and the corrected share count is reflected in this report.

What is the vesting schedule of Patrick Burnett’s ARQT stock options mentioned here?

The stock options granted on 01/12/2024 vest so that 1/48th of the shares vest on each monthly anniversary of the 01/12/2024 vesting commencement date, with 100% of the shares fully vested on the fourth anniversary, subject to continued service.