Initial Form 3: ARWR CFO holds 101,200 shares with 100,000 RSUs

Rhea-AI Filing Summary

Daniel Joseph Apel, Chief Financial Officer of Arrowhead Pharmaceuticals (ARWR), reported direct beneficial ownership of 101,200 shares of common stock. The filing specifies that this total includes 100,000 restricted stock units that will vest over four years, disclosed on an initial Form 3.

Positive

• Direct beneficial ownership of 101,200 shares reported by the CFO, providing transparency on insider holdings.
• Includes 100,000 restricted stock units vesting over four years, which aligns CFO compensation with long-term shareholder interests.

Negative

• None.

Insights

Financial Analyst

TL;DR CFO holds 101,200 ARWR shares, incl. 100,000 RSUs vesting over four years; routine disclosure with neutral immediate market impact.

The Form 3 reports a direct ownership stake of 101,200 common shares by CFO Daniel Apel, of which 100,000 are restricted stock units with a four-year vesting schedule. This is an initial insider disclosure under Section 16 and represents equity compensation rather than an open-market purchase or sale. The information is relevant for assessing management share alignment but does not, by itself, indicate a material change to the company's capital structure or immediate valuation.

Corporate Governance Expert

TL;DR Significant RSU grant aligns CFO incentives with shareholders; filing is standard governance disclosure without red flags.

The filing shows direct beneficial ownership and a sizable restricted equity award: 100,000 RSUs vesting over four years. From a governance perspective, multi-year vesting schedules are common to promote retention and long-term alignment. The form shows no derivative holdings and no indication of indirect ownership structures. No governance concerns are evident from the disclosure alone.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Apel Daniel Joseph

(Last) (First) (Middle)

177 E COLORADO BLVD, SUITE 700

(Street)

PASADENA CA 91105

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/15/2025

3. Issuer Name and Ticker or Trading Symbol
ARROWHEAD PHARMACEUTICALS, INC. [ ARWR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	101,200(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes a total of 100,000 restricted stock units, which will vest over four years.

Remarks:

	/s/Daniel Joseph Apel	08/12/2025
	** 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 5 (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

How many ARWR shares does Daniel Joseph Apel report owning?

101,200 shares of common stock are reported as beneficially owned directly.

Does the Form 3 disclose restricted stock units for the ARWR CFO?

Yes. The filing states 100,000 restricted stock units that will vest over four years.

Are any derivative securities reported for ARWR on this Form 3?

No. Table II lists no derivative securities in this filing.

What role at ARWR is listed for the reporting person?

Chief Financial Officer is the relationship of the reporting person to the issuer.

Is the reported ownership direct or indirect?

The filing reports direct (D) ownership for the listed common stock.