Arcutis (ARQT) Director Terrie Curran Exercises Options, Sells 38,200 Shares

What Happened
Terrie Curran, a non-employee director of Arcutis Biotherapeutics (ARQT), exercised stock options and immediately sold the resulting shares on August 27, 2026. She exercised 11,148 shares at $7.51 ($83,721 cost) and 27,052 shares at $8.63 ($233,459 cost) and sold the same lots in open-market transactions. The sales generated gross proceeds of $279,028 and $677,095 respectively, for total gross sale proceeds of $956,123. The filing also includes technical derivative dispositions reported at $0.00 related to the exercised options.

Key Details

• Transaction date: 2026-08-27 (reported 2026-08-28; filing appears timely).
• Exercises: 11,148 shares @ $7.51 (cost $83,721); 27,052 shares @ $8.63 (cost $233,459).
• Sales: 11,148 shares and 27,052 shares sold at a weighted average price of $25.03; total gross proceeds $956,123. Sales occurred across multiple trades at prices from $25.00 to $25.1001 (reporting person will provide per-price breakdown on request).
• Total shares exercised/sold: 38,200.
• Shares owned after the transactions: Not stated in the excerpt of the filing—see the full Form 4 for post-transaction holdings.
• Footnotes: Some options referenced had vesting schedules (100% on the first anniversary of May 31, 2023 and June 14, 2024) and one option is noted as fully vested.
• Transaction codes: M = exercise/conversion of derivative; S = sale of shares. The $0.00 derivative entries reflect reporting of the derivative instrument upon conversion/exercise.

Context
Because the shares were exercised and sold on the same day, this functioned like a cashless exercise (exercise then immediate sale), commonly done to cover option costs, taxes, or to monetize gains. These trades are routine insider transactions and are factual disclosures of activity — they do not, by themselves, indicate the insider’s view on the company.