Arrowhead (ARWR) CEO Anzalone details December 2025 insider stock sales

Q: What insider transaction did Arrowhead (ARWR) disclose in this Form 4?

The report discloses that Christopher Anzalone , Arrowhead Pharmaceuticals’ Chief Executive Officer and director, sold multiple blocks of the company’s common stock on December 19, 2025 and December 22, 2025 in open market transactions.

Q: How many Arrowhead (ARWR) shares did the CEO sell and at what prices?

On December 19, 2025 , the CEO sold 3,979 shares at a weighted average of $66.67 , 8,147 shares at $68.01 , and 1,319 shares at $68.48 . On December 22, 2025 , he sold 10,012 shares at $68.33 and 2,574 shares at $68.85 , all as reported weighted average prices.

Q: Were the Arrowhead (ARWR) CEO’s stock sales under a Rule 10b5-1 plan?

Yes. The filing explains that the shares were sold pursuant to a 10b5‑1 trading plan adopted by the reporting person in accordance with Rule 10b5‑1 under the Securities Exchange Act of 1934.

Q: What is the reporting person’s relationship to Arrowhead (ARWR)?

The reporting person, Christopher Anzalone , is identified as both a Director and an Officer , serving as the company’s Chief Executive Officer .

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Arrowhead Pharmaceuticals’ Chief Executive Officer and director Christopher Anzalone reported preset stock sales in December 2025. On December 19, 2025, he sold several blocks of Arrowhead common stock, including 3,979 shares at a weighted average price of $66.67, 8,147 shares at $68.01, and 1,319 shares at $68.48. On December 22, 2025, he sold additional blocks of 10,012 shares at a weighted average price of $68.33 and 2,574 shares at $68.85.

The filing states that all of these transactions were executed under a pre‑arranged Rule 10b5‑1 trading plan adopted by the reporting person. After these sales, Anzalone beneficially owns 3,805,926 shares of Arrowhead common stock directly, which includes shares underlying previously reported restricted stock units that continue to be subject to vesting conditions.

Insider Trade Summary

Net Seller: 26,031 shares ($1,771,022)

Net Sell 5 txns

Insider Anzalone Christopher Richard

Role Chief Executive Officer

Sold 26,031 shs ($1.77M)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,012	$68.33	$684K
Sale	Common Stock	2,574	$68.85	$177K
Sale	Common Stock	3,979	$66.67	$265K
Sale	Common Stock	8,147	$68.01	$554K
Sale	Common Stock	1,319	$68.48	$90K

Holdings After Transaction: Common Stock — 3,808,500 shares (Direct)

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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $66.52 to $67.41, 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. 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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $67.59 to $68.37, 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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $68.40 to $68.53, 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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $67.79 to $68.75, 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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $68.76 to $69.03, 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.

Form 4 Insider Transactions: What Each Field Means →

12/23/2025 - 06:01 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^*

Anzalone Christopher Richard

(Last)

(First)

(Middle)

177 E. COLORADO BLVD

SUITE 700

(Street)

PASADENA

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)
12/19/2025

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)
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	12/19/2025		S		3,979⁽¹⁾	D	$66.67⁽²⁾	3,827,978⁽³⁾	D
Common Stock	12/19/2025		S		8,147⁽¹⁾	D	$68.01⁽⁴⁾	3,819,831⁽³⁾	D
Common Stock	12/19/2025		S		1,319⁽¹⁾	D	$68.48⁽⁵⁾	3,818,512⁽³⁾	D
Common Stock	12/22/2025		S		10,012⁽¹⁾	D	$68.33⁽⁶⁾	3,808,500⁽³⁾	D
Common Stock	12/22/2025		S		2,574⁽¹⁾	D	$68.85⁽⁷⁾	3,805,926⁽³⁾	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. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $66.52 to $67.41, 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.

3. 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.

4. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $67.59 to $68.37, 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 $68.40 to $68.53, 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 $67.79 to $68.75, 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.

7. The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $68.76 to $69.03, 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	12/23/2025
	** 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.
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Arrowhead (ARWR) disclose in this Form 4?

The report discloses that Christopher Anzalone, Arrowhead Pharmaceuticals’ Chief Executive Officer and director, sold multiple blocks of the company’s common stock on December 19, 2025 and December 22, 2025 in open market transactions.

How many Arrowhead (ARWR) shares did the CEO sell and at what prices?

On December 19, 2025, the CEO sold 3,979 shares at a weighted average of $66.67, 8,147 shares at $68.01, and 1,319 shares at $68.48. On December 22, 2025, he sold 10,012 shares at $68.33 and 2,574 shares at $68.85, all as reported weighted average prices.

Were the Arrowhead (ARWR) CEO’s stock sales under a Rule 10b5-1 plan?

Yes. The filing explains that the shares were sold pursuant to a 10b5‑1 trading plan adopted by the reporting person in accordance with Rule 10b5‑1 under the Securities Exchange Act of 1934.

How many Arrowhead (ARWR) shares does the CEO still own after these sales?

Following the reported transactions, Christopher Anzalone beneficially owns 3,805,926 shares of Arrowhead Pharmaceuticals common stock directly, which includes previously reported shares underlying restricted stock units that remain subject to vesting conditions.

What price ranges were involved in the Arrowhead (ARWR) insider sales?

The filing notes that the reported weighted average prices reflect multiple trades in ranges. These include ranges from $66.52 to $67.41, $67.59 to $68.37, $68.40 to $68.53, $67.79 to $68.75, and $68.76 to $69.03, with full breakdowns available upon request from the company or the reporting person.

What is the reporting person’s relationship to Arrowhead (ARWR)?

The reporting person, Christopher Anzalone, is identified as both a Director and an Officer, serving as the company’s Chief Executive Officer.