Burnett Patrick 4
4 · Arcutis Biotherapeutics, Inc. · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Arcutis (ARQT) EVP & Chief Medical Officer Patrick Burnett Sells Shares
What Happened Patrick Burnett, Executive Vice President and Chief Medical Officer of Arcutis Biotherapeutics (ARQT), sold a total of 13,469 shares in two open-market transactions: 3,675 shares on 2026-02-02 (weighted avg price $25.50; proceeds ~$93,707) and 9,794 shares on 2026-02-04 (weighted avg price $25.81; proceeds ~$252,748), totaling approximately $346,455. The sales were effected pursuant to a 10b5-1 trading plan and were made to cover tax withholding on vested Restricted Stock Units (RSUs).
Key Details
- Transaction dates and reported weighted-average prices:
- 2026-02-02: 3,675 shares at $25.50 (range reported: $24.745–$25.68)
- 2026-02-04: 9,794 shares at $25.81 (range reported: $25.58–$26.09)
- Total shares sold: 13,469; total proceeds: ~ $346,455.
- Purpose: Sales were to cover tax withholding in connection with RSU vesting (RSUs granted Jan 12, 2024; 25% vests annually beginning Feb 1, 2025). (Footnotes F1, F2, F4)
- Trading plan: Transactions were effected under a 10b5-1 plan adopted Dec 12, 2024, with a plan end date of Feb 27, 2026. (Footnote F3)
- Shares owned after transaction: Not disclosed in this Form 4.
- Filing timeliness: No late filing is indicated on the Form 4.
Context These sales were routine administrative transactions to satisfy tax withholding on vested RSUs and were pre-arranged under a 10b5-1 plan. Purchases generally signal stronger insider conviction than sales; here the filing documents the sale mechanics (tax withholding and plan-based selling) rather than an ad hoc sale of newly purchased shares.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-02-02$25.50/sh−3,675$93,707→ 90,445 total - Sale
Common Stock
[F3][F4]2026-02-04$25.81/sh−9,794$252,748→ 80,651 total
Footnotes (4)
- [F1]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligation in connection with the vesting of Restricted Stock Units ("RSUs"), granted on January 12, 2024, in which 25% of the RSUs vest annually on February 1, (the "Vesting Commencement Date"), of each year beginning on February 1, 2025, subject to the Reporting Person's continued service to the Issuer.
- [F2]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.745 to $25.68, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
- [F3]The transactions reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on December 12, 2024, by the Reporting Person, with a plan end date of February 27, 2026.
- [F4]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $25.58 to $26.09, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.