Arcutis (ARQT) Director Howard Welgus Exercises Options, Sells Shares

What Happened Howard G. Welgus, a director of Arcutis Biotherapeutics (ARQT), exercised vested stock options on August 17, 2026 to acquire a total of 4,096 shares (822 @ $6.52; 1,019 @ $7.51; 2,255 @ $8.63) at a combined exercise cost of $32,475. On the same day he sold 4,730 shares in an open-market transaction at a weighted average price of $26.18 for gross proceeds of $123,835. The Form 4 also records corresponding derivative conversion/disposition entries at $0 related to the exercised options.

Key Details

• Transaction date: August 17, 2026 (Form 4 filed Aug 19, 2026 — filed within the required two business days).
• Options exercised: 4,096 shares (822 @ $6.52; 1,019 @ $7.51; 2,255 @ $8.63); total exercise cost reported $32,475.
• Open-market sale: 4,730 shares at a weighted average price of $26.18; total proceeds $123,835. Reported sale prices ranged $26.10–$26.25; the filer will provide exact breakdown on request (Footnote F2).
• Shares owned after the transactions: Not specified in this Form 4.
• Notable footnotes: F1 — sale effected pursuant to a 10b5-1 trading plan adopted Mar 13, 2026 (plan ends June 15, 2027). F3 — the option(s) exercised were fully vested.

Context This filing shows both an acquisition (exercise of vested options) and an immediate sale of shares the same day. Such same-day exercise-and-sell activity can reflect routine actions to cover exercise costs or to monetize vested equity. Because the sale was made under a pre-established 10b5-1 plan, the timing was prearranged and may not reflect a change in the director’s view of the company.