Matsuda Masaru 4
4 · Arcutis Biotherapeutics, Inc. · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Arcutis (ARQT) General Counsel Masaru Matsuda Sells Shares
What Happened
- Masaru Matsuda, Arcutis Biotherapeutics SVP General Counsel and Corporate Secretary, sold a total of 40,638 shares on February 2, 2026 in open-market transactions, generating aggregate proceeds of approximately $1,027,293. The reported line-item weighted average prices were $25.50 (7,983 shs), $24.97 (8,562 shs), $25.24 (19,379 shs) and $25.63 (4,714 shs). These were sales (not purchases) and are routine in nature.
Key Details
- Transaction date: 2026-02-02; Form 4 filed 2026-02-04 (timely within reporting window).
- Line items:
- 7,983 shs @ $25.50 = $203,554
- 8,562 shs @ $24.97 = $213,793
- 19,379 shs @ $25.24 = $489,126
- 4,714 shs @ $25.63 = $120,820
- Aggregate: 40,638 shares, ~$1,027,293 total proceeds.
- Shares owned after transaction: Not specified in the provided excerpt of the Form 4.
- Notable footnotes:
- Sales were to cover tax withholding on vested RSUs granted Jan 12, 2024 (25% vest annually on Feb 1) (tax-withholding sale).
- Transactions were effected pursuant to a 10b5-1 trading plan adopted June 5, 2025 (plan ends Sept 4, 2026).
- Reported prices are weighted averages; the filing discloses individual trade price ranges across the sales (roughly $24.50 to $25.74 across all lots) and offers to provide per-trade details on request.
Context
- These were sales to satisfy tax-withholding obligations on vested restricted stock units, executed under a preplanned 10b5-1 program. Such tax-withholding sales are common and do not necessarily indicate management sentiment about the company.
Insider Transaction Report
Form 4
Matsuda Masaru
See Remarks
Transactions
- Sale
Common Stock
[F1][F2]2026-02-02$25.50/sh−7,983$203,554→ 142,658 total - Sale
Common Stock
[F3][F4]2026-02-02$24.97/sh−8,562$213,793→ 134,096 total - Sale
Common Stock
[F3][F5]2026-02-02$25.24/sh−19,379$489,126→ 114,717 total - Sale
Common Stock
[F3][F6]2026-02-02$25.63/sh−4,714$120,820→ 110,003 total
Footnotes (6)
- [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 June 5, 2025, by the Reporting Person, with a plan end date of September 4, 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 $24.50 to $25.42, 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.
- [F5]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.55 to $25.55, 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.
- [F6]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $25.56 to $25.74, 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.
Signature
/s/ Latha Vairavan, as Attorney-in-Fact for Masaru Matsuda|2026-02-04