ARQT CEO Watanabe sells shares under Rule 10b5-1 trading plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Arcutis Biotherapeutics (ARQT) insider Todd Franklin Watanabe, the company’s President, Chief Executive Officer and a director, reported open-market sales of common stock on a Form 4. On November 21, 2025, he sold 1,055 shares of common stock at a price of $30.00 per share. On November 24, 2025, he sold an additional 48,945 shares at a weighted average price of $30.3556 per share.
The filing states these transactions were made under a Rule 10b5-1 trading plan adopted on June 3, 2025, with a plan end date of September 30, 2026. Following the reported sales, Watanabe beneficially owns 740,537 shares of Arcutis common stock directly, plus additional indirect holdings through several trusts and an LLC, for which he disclaims full beneficial ownership except to the extent of his economic interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 50,000 shares ($1,517,405)
Net Sell
6 txns
Insider
Watanabe Todd
Role
See Remarks
Sold
50,000 shs ($1.52M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 48,945 | $30.3556 | $1.49M |
| Sale | Common Stock | 1,055 | $30.00 | $32K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 740,537 shares (Direct);
Common Stock — 25,410 shares (Indirect, By Trust)
Footnotes (1)
- The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on June 3, 2025, by the Reporting Person, with a plan end date of September 30, 2026. The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $30.00 to $30.73, 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 Reporting Person's holdings reflect a transfer to ex-spouse pursuant to a domestic relations order. The securities are held of record by The John Franklin Watanabe Trust, of which the Reporting Person is the 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. The securities are held of record by The Anderson Prest Watanabe Irrevocable Trust, of which the Reporting Person is the 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. The securities are held of record by Watanabe Ventures, LLC, of which the Reporting Person is the Chief Operating Officer. 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. The securities are held of record by The Watanabe 2016 Irrevocable Trust, of which the Reporting Person's children are beneficiaries. 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.
FAQ
What did Arcutis Biotherapeutics (ARQT) disclose in this Form 4?
The Form 4 reports that President, Chief Executive Officer and director Todd Franklin Watanabe sold Arcutis Biotherapeutics common stock in two transactions and updated his beneficial ownership.
Was the ARQT insider stock sale under a Rule 10b5-1 plan?
Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on June 3, 2025, with a plan end date of September 30, 2026.
What indirect ARQT holdings are reported for Todd Franklin Watanabe?
Indirect holdings include shares held by The John Franklin Watanabe Trust, The Anderson Prest Watanabe Irrevocable Trust, Watanabe Ventures, LLC, and The Watanabe 2016 Irrevocable Trust, where he disclaims beneficial ownership except for his pecuniary interest.
What is Todd Franklin Watanabe’s role at Arcutis Biotherapeutics (ARQT)?
He is reported as a director and as an officer with the title President and Chief Executive Officer of Arcutis Biotherapeutics.
Does the Form 4 mention any other changes to Watanabe’s ARQT holdings?
Yes. The explanation notes that his holdings reflect a transfer of shares to an ex-spouse pursuant to a domestic relations order.