RCUS insider sale: 2,831 shares sold under 10b5-1 plan

Rhea-AI Filing Summary

Arcus Biosciences (RCUS) insider sale by Chief Accounting Officer. The reporting person sold 2,831 shares of Arcus common stock on 09/29/2025 at $13.00 per share, leaving beneficial ownership of 27,363 shares after the transaction. The Form 4 states the sales were effected under a Rule 10b5-1 trading plan adopted on June 6, 2025. The filing was executed by an attorney-in-fact on 09/30/2025. This report discloses a planned, executed disposition by a senior financial officer that reduced their holdings by approximately 9.4% of their pre-sale position.

Positive

• Sale executed under a Rule 10b5-1 trading plan, indicating pre-authorization and reduced appearance of opportunistic timing
• Reporting person is using formal process (10b5-1) consistent with strong insider-trading governance controls

Negative

• Insider reduced ownership by approximately 9.4% of their pre-sale position (2,831 shares sold, leaving 27,363 shares)
• Disposition of shares by Chief Accounting Officer may prompt investor questions about insider sentiment despite the 10b5-1 plan

Insights

Corporate Governance Expert

TL;DR: Routine, preplanned insider sale; governance controls likely in place.

The sale was executed under a documented Rule 10b5-1 plan, which typically signals the transaction was pre-authorized and designed to avoid insider trading concerns. A Chief Accounting Officer using a 10b5-1 plan is consistent with governance best practices for executives with access to material nonpublic information. Investors should note the reduction in ownership but recognize the existence of a formal trading plan mitigates timing-related governance risk.

Securities Analyst

TL;DR: Modest insider liquidity event; unlikely to be materially market-moving on its own.

The disposition of 2,831 shares at $13 reduced the reporting person's holdings from ~30,194 to 27,363 shares, a ~9.4% reduction of their position. The absolute size of the sale (approximate proceeds $36,803) is small relative to a public company market cap, so the direct market impact is minor. Because the sale was via a 10b5-1 plan, this appears to be a scheduled liquidity action rather than a reaction to company developments.

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
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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).

1. Name and Address of Reporting Person^*

Azoy Alexander

(Last) (First) (Middle)

C/O ARCUS BIOSCIENCES, INC.

3928 POINT EDEN WAY

(Street)

HAYWARD CA 94545

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Arcus Biosciences, Inc. [ RCUS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2025

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	09/29/2025		S		2,831(1)	D	$13	27,363	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. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 6, 2025.

Remarks:

	/s/ Carolyn Tang, Attorney-in-Fact	09/30/2025
	** 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.

FAQ

What did the Arcus Biosciences (RCUS) insider report?

The filing reports a sale of 2,831 shares by the Chief Accounting Officer on 09/29/2025 at $13.00, leaving 27,363 shares beneficially owned.

Was the sale preplanned or discretionary?

The Form 4 states the sale was effected under a Rule 10b5-1 trading plan adopted by the reporting person on June 6, 2025.

How much did the insider reduce their holdings by?

The insider reduced their position by approximately 9.4% (2,831 shares sold out of an implied pre-sale holding of 30,194 shares).

Who signed the Form 4?

The form was executed by Carolyn Tang, Attorney-in-Fact, on 09/30/2025 on behalf of the reporting person.

What was the sale price per share?

The reported sale price was $13.00 per share for the 2,831 shares sold on 09/29/2025.