Arrowhead (NASDAQ: ARWR) director sells 2,970 shares under Rule 10b5-1 plan

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Arrowhead Pharmaceuticals director Hongbo Lu reported an open-market sale of company stock. On the reported date, Lu sold 2,970 shares of Arrowhead Pharmaceuticals common stock at a price of $76.88 per share in a single transaction.

The filing states this sale was made under a pre-arranged Rule 10b5-1 trading plan, which is designed to allow insiders to sell shares on a scheduled basis. After this transaction, Lu directly owned 52,012 shares of Arrowhead Pharmaceuticals common stock, which includes shares underlying previously granted restricted stock units, some of which are still subject to vesting conditions.

Insider Trade Summary 10b5-1

Net Seller: 2,970 shares ($228,334)

Net Sell 1 txn

Insider Lu Hongbo

Role null

Sold 2,970 shs ($228K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,970	$76.88	$228K

Holdings After Transaction: Common Stock — 52,012 shares (Direct, null)

Footnotes (1)

Shares were sold pursuant to a 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Includes previously reported shares of common stock underlying Restricted Stock Units granted to the Reporting person, a portion of which are still subject to certain vesting conditions.

Key Figures

Shares sold: 2,970 shares Sale price: $76.88 per share Shares owned after transaction: 52,012 shares +2 more

5 metrics

Shares sold 2,970 shares Open-market sale on reported transaction date

Sale price $76.88 per share Price for the 2,970 shares sold

Shares owned after transaction 52,012 shares Direct holdings following the reported sale

Transaction code S (sale) Open-market or private sale of common stock

Trading plan type Rule 10b5-1 trading plan Plan governing execution of the sale

Key Terms

Rule 10b5-1 trading plan, Restricted Stock Units, vesting conditions

3 terms

Rule 10b5-1 trading plan regulatory

"Shares were sold pursuant to a 10b5-1 trading plan adopted by the Reporting Person"

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.

Restricted Stock Units financial

"Includes previously reported shares of common stock underlying Restricted Stock Units granted to the Reporting person"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vesting conditions financial

"a portion of which are still subject to certain vesting conditions"

Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 07:05 PM

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).

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^*

Lu Hongbo

(Last)

(First)

(Middle)

177 E. COLORADO BLVD

SUITE 700

(Street)

PASADENA

CALIFORNIA

91105

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/12/2026		S⁽¹⁾		2,970	D	$76.88	52,012⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares were sold pursuant to a 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

2. Includes previously reported shares of common stock underlying Restricted Stock Units granted to the Reporting person, a portion of which are still subject to certain vesting conditions.

Remarks:

	/s/Hongbo Lu	05/14/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Arrowhead Pharmaceuticals (ARWR) director Hongbo Lu report?

Director Hongbo Lu reported selling 2,970 shares of Arrowhead Pharmaceuticals common stock. The shares were sold in an open-market transaction at $76.88 per share under a pre-arranged Rule 10b5-1 trading plan, as disclosed in the Form 4 filing.

At what price did Hongbo Lu sell Arrowhead Pharmaceuticals (ARWR) shares?

The reported sale price was $76.88 per share. This price applied to 2,970 shares of Arrowhead Pharmaceuticals common stock sold in a single open-market transaction, according to the Form 4 insider trading disclosure filed with the SEC.

How many Arrowhead Pharmaceuticals (ARWR) shares does Hongbo Lu own after the sale?

After the transaction, Hongbo Lu directly owned 52,012 shares of Arrowhead Pharmaceuticals common stock. This figure includes previously reported shares underlying restricted stock units, some of which remain subject to vesting conditions as described in the filing footnotes.

Was the Arrowhead Pharmaceuticals (ARWR) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states that the shares were sold pursuant to a Rule 10b5-1 trading plan. Such plans allow insiders to schedule trades in advance, helping separate routine portfolio management from discretionary trading decisions based on short-term market conditions.

Do Hongbo Lu’s reported holdings in Arrowhead Pharmaceuticals (ARWR) include restricted stock units?

Yes. The reported 52,012-share holding includes common stock underlying previously granted restricted stock units. A portion of these restricted stock units is still subject to vesting conditions, meaning some shares will only fully vest if specified requirements are met.

What type of insider transaction code was used in the Arrowhead Pharmaceuticals (ARWR) Form 4?

The transaction used code “S,” indicating a sale in the open market or private transaction. The filing also describes the sale as an open-market transaction executed under a Rule 10b5-1 trading plan, rather than a discretionary, unscheduled trade.