Arcutis (ARQT) director sells 39,272 shares under 10b5-1 plan

Rhea-AI Filing Summary

Arcutis Biotherapeutics director Leonard Keith R reported a mix of stock option exercises and share sales in Arcutis Biotherapeutics, Inc. He exercised fully vested stock options for 27,052 and 12,220 shares of common stock at exercise prices of $8.63 and $7.51 per share, respectively, on March 2, 2026. On the same day, he sold 39,272 shares of common stock in open-market transactions at a weighted average price of $25.392 per share, under a Rule 10b5-1 trading plan adopted on November 18, 2025 with an end date of February 16, 2027. After these transactions, he directly owned 22,123 Arcutis shares and an additional 1,750 shares were held indirectly by the Leonard Family Trust, for which he is a trustee and disclaims beneficial ownership except for any pecuniary interest.

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^*

Leonard Keith R

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M(1)		27,052	A	$8.63	49,175	D
Common Stock	03/02/2026		M(1)		12,220	A	$7.51	61,395	D
Common Stock	03/02/2026		S(1)		39,272	D	$25.392(2)	22,123	D
Common Stock								1,750	I	By Leonard Family Trust dated August 28, 1996(3)

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)	$8.63	03/02/2026		M(1)			27,052	(4)	06/14/2034	Common Stock	27,052	$0	0	D
Stock Option (right to buy)	$7.51	03/02/2026		M(1)			12,220	(4)	05/31/2033	Common Stock	12,220	$0	0	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on November 18, 2025, by the Reporting Person, with a plan end date of February 16, 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 $25.05 to $26.039, 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. Shares held by Leonard Family Trust dated August 28, 1996, of which the Reporting Person is a 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.

4. The option is fully vested.

Remarks:

	/s/ Latha Vairavan, as Attorney-in-Fact for Keith Leonard	03/04/2026
	** 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.

FAQ

What insider transactions did Leonard Keith R report at Arcutis Biotherapeutics (ARQT)?

Leonard Keith R reported exercising stock options and selling Arcutis Biotherapeutics common shares. He exercised options into common stock, then sold 39,272 shares in open-market transactions on March 2, 2026, all under a pre-established Rule 10b5-1 trading plan.

How many Arcutis Biotherapeutics (ARQT) shares did the director sell and at what price?

He sold 39,272 shares of Arcutis Biotherapeutics common stock. The weighted average sale price was $25.392 per share, with individual trades executed between $25.05 and $26.039, according to the pricing range disclosed in the filing footnotes.

Were the Arcutis Biotherapeutics (ARQT) insider sales made under a 10b5-1 trading plan?

Yes. The reported Arcutis Biotherapeutics transactions were executed under a Rule 10b5-1 trading plan. The plan was adopted on November 18, 2025, by the reporting person and has a stated end date of February 16, 2027, providing prearranged trading instructions.

What stock option activity did the Arcutis Biotherapeutics (ARQT) director report?

The director exercised fully vested stock options covering 27,052 and 12,220 shares of Arcutis Biotherapeutics common stock. These derivative exercises occurred on March 2, 2026, at exercise prices of $8.63 and $7.51 per share, as disclosed in the Form 4 data.

How many Arcutis Biotherapeutics (ARQT) shares does Leonard Keith R hold after these transactions?

Following the reported transactions, Leonard Keith R directly owned 22,123 Arcutis Biotherapeutics common shares. An additional 1,750 shares were held indirectly by the Leonard Family Trust, where he serves as trustee and disclaims beneficial ownership except for any pecuniary interest.

How are the Leonard Family Trust’s Arcutis Biotherapeutics (ARQT) shares treated in the filing?

Shares held by the Leonard Family Trust are reported as indirect ownership. The filing notes the trust holds 1,750 Arcutis shares, and the reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest in the trust.