Were the Arrowhead (ARWR) CFO’s share sales made under a Rule 10b5-1 plan?

Yes. The filing states the CFO’s share sales were executed under a Rule 10b5-1 trading plan. Such plans are pre-arranged programs that schedule trades in advance, helping separate routine portfolio management from discretionary, market-timed insider transactions.

Arrowhead CFO sells 13,095 shares under 10b5-1 plan

Arrowhead Pharmaceuticals’ Chief Financial Officer Daniel Joseph Apel sold 13,095 shares of common stock on April 22, 2026 in open-market transactions.

Filing Impact

(Very High)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Arrowhead Pharmaceuticals’ Chief Financial Officer Daniel Joseph Apel sold 13,095 shares of common stock on April 22, 2026 in open-market transactions. The sales occurred at weighted average prices ranging from about $69.50 to $71.97 per share under a pre-established Rule 10b5-1 trading plan.

Following these sales, Apel directly holds 162,905 shares of Arrowhead common stock, which includes shares underlying previously reported restricted stock units that remain subject to vesting conditions. A portion of the disposition was made to satisfy tax withholding obligations related to equity compensation.

Insider Trade Summary 10b5-1

Net Seller: 13,095 shares

Net Sell 3 txns

Insider Apel Daniel Joseph

Role Chief Financial Officer

Sold 13,095 shs ($934K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,208	$70.11	$225K
Sale	Common Stock	1,157	$70.45	$82K
Sale	Common Stock	8,730	$71.92	$628K

Holdings After Transaction: Common Stock — 162,905 shares (Direct)

Footnotes (6)

F1. 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.
F2. Partial disposition of shares to satisfy tax withholding obligations.
F3. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.50 to $70.23, 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.
F4. 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.
F5. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $70.29 to $70.51, 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.
F6. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $71.55 to $71.97, 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.

Key Figures

Shares sold: 13,095 shares Post-transaction holdings: 162,905 shares Tranche price: $71.92 per share +4 more

7 metrics

Shares sold 13,095 shares Open-market sales on April 22, 2026

Post-transaction holdings 162,905 shares Direct Arrowhead common stock after transactions

Tranche price $71.92 per share One sale tranche of 8,730 shares

Tranche price $70.45 per share One sale tranche of 1,157 shares

Tranche price $70.11 per share One sale tranche of 3,208 shares

Price range (low) $69.50 per share Weighted average footnote range for one sale group

Price range (high) $71.97 per share Weighted average footnote range for one sale group

Key Terms

Rule 10b5-1 trading plan, weighted average price, Restricted Stock Units, tax withholding obligations, +1 more

5 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.

weighted average price financial

"The price reported on Column 4 is the weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

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.

tax withholding obligations financial

"Partial disposition of shares to satisfy tax withholding obligations"

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Arrowhead Pharmaceuticals (ARWR) disclose for its CFO?

Arrowhead Pharmaceuticals reported that CFO Daniel Joseph Apel sold 13,095 shares of common stock on April 22, 2026. The sales were open-market transactions executed under a pre-arranged Rule 10b5-1 trading plan, with a portion used to cover tax withholding obligations.

At what prices did the Arrowhead (ARWR) CFO sell his shares?

The CFO’s Arrowhead share sales occurred at weighted average prices between roughly $69.50 and $71.97 per share. Individual transactions included average prices such as $70.11, $70.45, and $71.92, reflecting multiple trades within narrow price ranges on April 22, 2026.

How many Arrowhead (ARWR) shares does the CFO hold after the reported sales?

After the April 22, 2026 sales, CFO Daniel Joseph Apel directly holds 162,905 Arrowhead common shares. This figure includes previously reported shares underlying restricted stock units, some of which remain subject to vesting conditions tied to his ongoing service or performance milestones.

Did the Arrowhead (ARWR) CFO sell shares to cover tax obligations?

The filing notes a partial disposition of shares to satisfy tax withholding obligations. This indicates that some of the shares sold by CFO Daniel Joseph Apel were used to pay taxes related to equity compensation, rather than representing purely discretionary portfolio sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 04/24/2026 - 06:44 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^*

Apel Daniel Joseph

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026

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	04/22/2026		S⁽¹⁾		3,208⁽²⁾	D	$70.11⁽³⁾	172,792⁽⁴⁾	D
Common Stock	04/22/2026		S⁽¹⁾		1,157⁽²⁾	D	$70.45⁽⁵⁾	171,635⁽⁴⁾	D
Common Stock	04/22/2026		S⁽¹⁾		8,730⁽²⁾	D	$71.92⁽⁶⁾	162,905⁽⁴⁾	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. Partial disposition of shares to satisfy tax withholding obligations.

3. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.50 to $70.23, 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.

4. 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.

5. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $70.29 to $70.51, 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 $71.55 to $71.97, 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/Daniel Joseph Apel	04/24/2026
	** 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