Watanabe Todd 4
4 · Arcutis Biotherapeutics, Inc. · Filed Mar 3, 2026
Insider Transaction Report
Form 4
Watanabe Todd
DirectorSee Remarks
Transactions
- Award
Common Stock
[F1]2026-02-27+102,000→ 823,306 total - Sale
Common Stock
[F2][F3]2026-03-02$25.16/sh−36,281$912,852→ 787,025 total - Sale
Common Stock
[F2][F4]2026-03-02$25.91/sh−1,068$27,676→ 785,957 total - Award
Stock Option (right to buy)
[F9]2026-02-27+266,000→ 266,000 totalExercise: $26.97Exp: 2036-02-27→ Common Stock (266,000 underlying)
Holdings
- 25,410(indirect: By Trust)
Common Stock
[F5] - 25,410(indirect: By Trust)
Common Stock
[F6] - 57,358(indirect: By LLC)
Common Stock
[F7] - 124,956(indirect: By Trust)
Common Stock
[F8]
Footnotes (9)
- [F1]Constitute Restricted Stock Units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting, in which 25% of the RSUs vest annually on March 1, (the "Vesting Commencement Date"), of each year beginning March 1, 2027, subject to the Reporting Person's continued service to the Issuer.
- [F2]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs.
- [F3]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $24.6850 to $25.67, 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.
- [F4]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $25.70 to $26.10, 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 securities are held of record by The John Franklin Watanabe Trust, of which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.
- [F6]The securities are held of record by The Anderson Prest Watanabe Irrevocable Trust, of which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.
- [F7]The securities are held of record by Watanabe Ventures, LLC, of which the Reporting Person is the Chief Operating Officer. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.
- [F8]The securities are held of record by The Watanabe 2016 Irrevocable Trust, of which the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.
- [F9]1/48th of the shares subject to the option vest on each monthly anniversary measured from March 1, 2026 (the "Vesting Commencement Date"), such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.
Signature
/s/ Latha Vairavan, as Attorney-in-Fact for Todd Franklin Watanabe|2026-03-03