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  4. [Form 4] Arcutis Biotherapeutics, Inc. Insider Trading Activity

Arcutis (ARQT) director trades shares under Rule 10b5-1 stock plan

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Arcutis Biotherapeutics director Howard G. Welgus reported option exercises and share sales in the company’s stock. On June 15, 2026, he exercised stock options to acquire a total of 4,096 shares of common stock at exercise prices between $6.5223 and $8.63 per share.

On the same day and on June 17, 2026, he sold a total of 4,731 shares of common stock in open-market transactions at weighted average prices of $24.4093 and $25.67 per share, respectively. The filing states these trades were made under a pre-arranged Rule 10b5-1 trading plan. After these transactions, Welgus directly owned 37,743 shares of Arcutis common stock.

Positive

  • None.

Negative

  • None.

Insights

Director exercised options and sold shares under a pre-set 10b5-1 plan.

The filing shows Howard G. Welgus exercising stock options for 4,096 Arcutis Biotherapeutics shares at exercise prices between $6.5223 and $8.63, then selling 4,731 shares in open-market transactions at weighted average prices in the mid-$20s.

These actions combine compensation-related option exercises with follow-on sales, a common liquidity pattern. The footnote notes a Rule 10b5-1 trading plan adopted on March 13, 2026, indicating the sales were pre-planned rather than timed opportunistically.

Following the trades, Welgus directly holds 37,743 common shares. The filing does not list remaining derivative positions, suggesting the reported option blocks were fully exercised. Overall, this appears as routine portfolio management rather than a thesis-changing event.

Insider Welgus Howard G.
Role null
Sold 4,731 shs ($116K)
Type Security Shares Price Value
Sale Common Stock 635 $25.67 $16K
Exercise Stock Option (right to buy) 822 $0.00 --
Exercise Stock Option (right to buy) 1,019 $0.00 --
Exercise Stock Option (right to buy) 2,255 $0.00 --
Exercise Common Stock 822 $6.5223 $5K
Exercise Common Stock 1,019 $7.51 $8K
Exercise Common Stock 2,255 $8.63 $19K
Sale Common Stock 4,096 $24.4093 $100K
Holdings After Transaction: Common Stock — 37,743 shares (Direct, null); Stock Option (right to buy) — 9,040 shares (Direct, null)
Footnotes (1)
  1. The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on March 13, 2026, by the Reporting Person, with a plan end date of June 15, 2027. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.095 to $24.62, 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 option is fully vested.
Shares sold total 4,731 shares Open-market sales on June 15 and 17, 2026
June 17 sale price $25.67 per share Sale of 635 common shares
June 15 weighted average price $24.4093 per share Open-market sales on June 15, 2026
Options exercised shares 4,096 shares Common stock acquired via option exercises on June 15, 2026
Option exercise prices $6.5223, $7.51, $8.63 Strike prices for exercised stock options
Shares owned after transactions 37,743 shares Direct Arcutis common stock holdings post-Form 4
Rule 10b5-1 trading plan financial
"The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on March 13, 2026"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sale price financial
"The price reported in Column 4 is a weighted average sale price"
Stock Option (right to buy) financial
"security_title: "Stock Option (right to buy)""
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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 CALIFORNIA 91361
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Arcutis Biotherapeutics, Inc. [ ARQT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock06/15/2026M(1)822A$6.522339,200D
Common Stock06/15/2026M(1)1,019A$7.5140,219D
Common Stock06/15/2026M(1)2,255A$8.6342,474D
Common Stock06/15/2026S(1)4,096D$24.4093(2)38,378D
Common Stock06/17/2026S(1)635D$25.6737,743D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (right to buy)$6.522306/15/2026M(1)822 (3)11/20/2029Common Stock822$09,040D
Stock Option (right to buy)$7.5106/15/2026M(1)1,019 (3)05/31/2033Common Stock1,019$011,201D
Stock Option (right to buy)$8.6306/15/2026M(1)2,255 (3)06/14/2034Common Stock2,255$024,797D
Explanation of Responses:
1. The transaction reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on March 13, 2026, by the Reporting Person, with a plan end date of June 15, 2027.
2. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.095 to $24.62, 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 option is fully vested.
Remarks:
/s/ Latha Vairavan, as Attorney-in-Fact for Howard G. Welgus06/17/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Arcutis Biotherapeutics (ARQT) director Howard G. Welgus report on this Form 4?

Howard G. Welgus reported exercising stock options for 4,096 Arcutis shares and selling 4,731 shares in open-market trades. The activity reflects option exercises at prices below $9 and subsequent sales at weighted average prices in the mid-$20s.

How many Arcutis (ARQT) shares did Howard G. Welgus sell and at what prices?

Welgus sold a total of 4,731 Arcutis common shares. On June 15, 2026, he sold at a weighted average price of $24.4093 per share, and on June 17, 2026, he sold 635 shares at $25.67 per share in open-market transactions.

What stock options did Howard G. Welgus exercise in Arcutis (ARQT)?

Welgus exercised options for 4,096 Arcutis common shares. The exercise prices were $6.5223, $7.51, and $8.63 per share. These fully vested options were converted into common stock before related sales disclosed in the same Form 4.

Was the Arcutis (ARQT) insider trading activity done under a Rule 10b5-1 plan?

Yes. The Form 4 states the transactions were effected under a Rule 10b5-1 trading plan adopted on March 13, 2026. Such pre-arranged plans automate trades over time, reducing the significance of day-to-day timing decisions by the reporting person.

How many Arcutis (ARQT) shares does Howard G. Welgus hold after these transactions?

After the reported option exercises and sales, Welgus directly owns 37,743 shares of Arcutis common stock. This post-transaction holding reflects his remaining equity position in the company following the June 2026 trades disclosed in the Form 4.