Arrowhead Pharmaceuticals (ARWR) CEO reports RSU grant and tax share sales

Rhea-AI Filing Summary

Arrowhead Pharmaceuticals reported insider equity activity by its chief executive officer and director in December 2025. On December 12, 2025, he received 180,000 shares underlying restricted stock units, which will vest in four equal annual installments.

On December 15 and 16, 2025, he sold multiple blocks of common stock, including 100,532 shares at a weighted average price of $68.67 and 21,321 shares at $69.28, exclusively to cover anticipated taxes on performance awards that vested December 12, 2025. After these transactions, he beneficially owned 3,916,957 Arrowhead common shares, which include previously reported shares underlying restricted stock units that remain subject to vesting conditions.

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

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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).

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^*

Anzalone Christopher Richard

(Last) (First) (Middle)

177 E. COLORADO BLVD

SUITE 700

(Street)

PASADENA CA 91105

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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	12/12/2025		A		180,000(1)	A	$0	4,101,255(2)	D
Common Stock	12/15/2025		S		100,532(3)	D	$68.67(4)	4,000,723(2)	D
Common Stock	12/15/2025		S		21,321(3)	D	$69.28(5)	3,979,402(2)	D
Common Stock	12/15/2025		S		8,147(3)	D	$69.96(6)	3,971,255(2)	D
Common Stock	12/16/2025		S		8,416(3)	D	$60.51(7)	3,962,839(2)	D
Common Stock	12/16/2025		S		10,963(3)	D	$61.25(8)	3,951,876(2)	D
Common Stock	12/16/2025		S		14,095(3)	D	$62.12(9)	3,937,781(2)	D
Common Stock	12/16/2025		S		8,476(3)	D	$62.94(10)	3,929,305(2)	D
Common Stock	12/16/2025		S		6,661(3)	D	$64.29(11)	3,922,644(2)	D
Common Stock	12/16/2025		S		1,000(3)	D	$64.96(12)	3,921,644(2)	D
Common Stock	12/16/2025		S		1,300(3)	D	$65.77(13)	3,920,344(2)	D
Common Stock	12/16/2025		S		166(3)	D	$66.77(14)	3,920,178(2)	D
Common Stock	12/16/2025		S		3,221(3)	D	$67.87(15)	3,916,957(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares underlying restricted stock units with a grant date December 12, 2025, which will vest in four equal annual installments.

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.

3. Shares sold exclusively to cover anticipated taxes on a performance awards that vested December 12, 2025. These performance awards were previously reported on form 4.

4. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $68.28 to $69.00, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

5. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.01 to $69.75, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

6. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.83 to $70.32, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

7. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $59.73 to $60.70, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

8. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $60.79 to $61.68, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

9. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $61.72 to $62.60, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

10. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $62.62 to $63.50, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

11. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $63.56 to $64.45, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

12. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $64.81 to $65.06, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

13. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $65.63 to $65.96, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

14. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $66.70 to $66.88, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

15. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $67.70 to $68.05, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote of this Form 4.

Remarks:

	/s/Christopher Anzalone	12/16/2025
	** 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 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.
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FAQ

What insider stock transactions did Arrowhead Pharmaceuticals (ARWR) disclose in this Form 4?

The filing reports that the Arrowhead Pharmaceuticals chief executive officer and director received 180,000 shares underlying restricted stock units on December 12, 2025, and then sold multiple blocks of common stock on December 15 and 16, 2025, to cover taxes on vested performance awards.

How many restricted stock units were granted to the Arrowhead Pharmaceuticals CEO on December 12, 2025?

The chief executive officer was granted 180,000 shares underlying restricted stock units on December 12, 2025. These restricted stock units will vest in four equal annual installments.

Why did the Arrowhead Pharmaceuticals (ARWR) CEO sell shares on December 15–16, 2025?

According to the disclosure, the shares sold on December 15 and 16, 2025 were sold exclusively to cover anticipated taxes on performance awards that vested on December 12, 2025.

At what prices were the Arrowhead CEO’s shares sold in this insider transaction report?

The common stock sales were reported at weighted average prices, including $68.67, $69.28 and $69.96 on December 15, 2025, and $60.51, $61.25, $62.12, $62.94, $64.29, $64.96, $65.77, $66.77 and $67.87 on December 16, 2025.

How many Arrowhead Pharmaceuticals (ARWR) shares does the CEO beneficially own after these December 2025 transactions?

Following the reported grant and tax-related sales, the chief executive officer beneficially owned 3,916,957 shares of Arrowhead Pharmaceuticals common stock, including previously reported shares underlying restricted stock units, some of which are still subject to vesting conditions.

What is the vesting schedule for the new restricted stock units granted to the Arrowhead CEO?

The 180,000 restricted stock units granted on December 12, 2025 will vest in four equal annual installments, as described in the disclosure.