Matsuda Masaru 4

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.