STOCK TITAN
  1. Home
  2. Sec-filings
  3. ARQT
  4. [Form 4] Arcutis Biotherapeutics, Inc. Insider Trading Activity

Arcutis (ARQT) SVP Masaru Matsuda logs 10b5-1 share sales and retains 110,003 shares

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Arcutis Biotherapeutics executive Masaru Matsuda reported multiple stock sales. On February 2, 2026, he sold blocks of Arcutis common stock at weighted average prices of $24.97 to $25.63, in several transactions disclosed in the filing.

The filing explains that one sale was made to cover tax withholding obligations tied to vesting restricted stock units granted on January 12, 2024. All reported transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on June 5, 2025. Following these trades, Matsuda beneficially owned 110,003 shares of Arcutis common stock in direct form as the company’s SVP, General Counsel and Corporate Secretary.

Positive

  • None.

Negative

  • None.
Insider Matsuda Masaru
Role See Remarks
Sold 40,638 shs ($1.03M)
Type Security Shares Price Value
Sale Common Stock 7,983 $25.4984 $204K
Sale Common Stock 8,562 $24.97 $214K
Sale Common Stock 19,379 $25.24 $489K
Sale Common Stock 4,714 $25.63 $121K
Holdings After Transaction: Common Stock — 142,658 shares (Direct)
Footnotes (1)
  1. The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligation in connection with the vesting of Restricted Stock Units ("RSUs"), granted on January 12, 2024, in which 25% of the RSUs vest annually on February 1, (the "Vesting Commencement Date"), of each year beginning on February 1, 2025, subject to the Reporting Person's continued service to the Issuer. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.745 to $25.68, 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 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. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.50 to $25.42, 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 $24.55 to $25.55, 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 $25.56 to $25.74, 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.
Form 4 Insider Transactions: What Each Field Means →
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 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)
02/02/2026
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 02/02/2026 S(1) 7,983 D $25.4984(2) 142,658 D
Common Stock 02/02/2026 S(3) 8,562 D $24.97(4) 134,096 D
Common Stock 02/02/2026 S(3) 19,379 D $25.24(5) 114,717 D
Common Stock 02/02/2026 S(3) 4,714 D $25.63(6) 110,003 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 sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligation in connection with the vesting of Restricted Stock Units ("RSUs"), granted on January 12, 2024, in which 25% of the RSUs vest annually on February 1, (the "Vesting Commencement Date"), of each year beginning on February 1, 2025, subject to the Reporting Person's continued service to the Issuer.
2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.745 to $25.68, 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. 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.
4. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.50 to $25.42, 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.
5. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.55 to $25.55, 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.
6. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $25.56 to $25.74, 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 02/04/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Masaru Matsuda report at Arcutis Biotherapeutics (ARQT)?

Masaru Matsuda reported several sales of Arcutis Biotherapeutics common stock on February 2, 2026. The transactions involved multiple sale blocks at weighted average prices between $24.97 and $25.63, as detailed in the Form 4 filing.

How many Arcutis (ARQT) shares does Masaru Matsuda hold after the reported sales?

After the reported February 2, 2026 transactions, Masaru Matsuda beneficially owned 110,003 shares of Arcutis common stock. The Form 4 indicates these holdings are in direct ownership form following the series of sale transactions disclosed.

Why did Masaru Matsuda sell Arcutis Biotherapeutics (ARQT) shares?

One of the reported sales was made to cover tax withholding obligations from vesting restricted stock units. These RSUs were granted on January 12, 2024 and vest 25% annually starting February 1, 2025, subject to continued service with Arcutis.

Were Masaru Matsuda’s Arcutis (ARQT) stock sales under a 10b5-1 plan?

Yes. The Form 4 states the reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on June 5, 2025. The plan includes a specified end date of September 4, 2026 for these pre-arranged trades.

What prices did Masaru Matsuda receive for his Arcutis (ARQT) share sales?

The reported sales used weighted average prices, including $25.4984, $24.97, $25.24, and $25.63 per share. Footnotes explain each price reflects multiple trades within specified ranges and full trade breakdowns are available upon request.

What is Masaru Matsuda’s role at Arcutis Biotherapeutics (ARQT)?

The Form 4 identifies Masaru Matsuda as an officer of Arcutis Biotherapeutics. In the remarks section, his specific role is listed as Senior Vice President, General Counsel and Corporate Secretary of the company.