[144] Core & Main, Inc. SEC Filing

Rhea-AI Filing Summary

Arcutis Biotherapeutics, Inc. (ARQT) – Form 144 filing

An individual named Patrick Burnett has filed a Form 144 indicating an intention to sell up to 23,000 common shares of Arcutis Biotherapeutics. The proposed broker is Merrill Lynch (Columbus, OH), the targeted sale date is 10 July 2025, and the aggregate market value of the planned sale is $346,047. With 119,201,724 shares outstanding, the planned sale represents roughly 0.02 % of shares outstanding.

The filer previously sold shares during the past three months:

• 2,597 shares on 02 May 2025 for $39,442
• 3,871 shares on 08 May 2025 for $52,623

The shares being sold were acquired via a stock-option exercise on 10 July 2025, paid in cash. No additional financial or operational information about Arcutis is included in this short-form notice.

Insights

Equity Analyst

TL;DR – Small insider sale (0.02 % of float); unlikely to move ARQT share price materially.

The Form 144 discloses that Patrick Burnett plans to sell 23 k shares (~$346 k) on 10 July 2025. Relative to the 119 m shares outstanding, the sale is de minimis, suggesting limited direct price impact. Prior sales totalling 6.5 k shares over the last quarter reinforce a pattern of periodic liquidity rather than a large disposition. There is no accompanying negative disclosure or operational update. Accordingly, the filing is neutral from a fundamental standpoint; investors typically monitor insider activity, but the volume here is insufficient to shift sentiment or valuation.

Corporate Governance Specialist

TL;DR – Routine Rule 144 filing; no governance red flags detected.

Rule 144 filings are standard for insiders unloading restricted shares. The representation that the seller possesses no undisclosed adverse information is included, and no Rule 10b5-1 plan is cited. The modest size (~0.02 % of outstanding) and cash-settled option exercise indicate normal personal financial management rather than a strategic signal. From a governance lens, the filing appears procedural and does not suggest heightened insider distrust.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	116931	7309145.89	189654473	07/10/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	07/10/2025	Option Granted - 03/11/2022	Issuer			35517	07/10/2025	Cash
Class A	07/10/2025	Option Granted - 03/10/2023	Issuer			39549	07/10/2025	Cash
Class A	07/10/2025	Option Granted - 03/07/2024	Issuer			18021	07/10/2025	Cash
Class A	07/10/2025	Option Granted - 03/13/2025	Issuer			23844	07/10/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Arcutis Biotherapeutics (ARQT) shares are being proposed for sale?

23,000 common shares are listed for sale under this Form 144 filing.

What is the estimated market value of the ARQT shares to be sold?

The aggregate market value is $346,047.

When is the proposed sale date for the ARQT insider transaction?

The approximate sale date is 10 July 2025.

What percentage of Arcutis Biotherapeutics’ total shares does the 23,000-share sale represent?

It represents about 0.02 % of the 119,201,724 shares outstanding.

Were any ARQT shares sold by the filer in the past three months?

Yes, 2,597 shares were sold on 02 May 2025 and 3,871 shares on 08 May 2025, totaling 6,468 shares.