Burnett Patrick 4

What Happened

• Patrick Burnett, EVP and Chief Medical Officer of Arcutis Biotherapeutics (ARQT), sold 684 shares in an open-market transaction on May 4, 2026. The weighted-average sale price was $23.61, for total proceeds of approximately $16,150.
• The filing notes the sale was made to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), indicating a routine tax-withholding disposition rather than a directional investment bet.

Key Details

• Transaction date: May 4, 2026; Form 4 filed May 6, 2026 (appears timely).
• Shares sold: 684; weighted-average price: $23.61; total proceeds: ~$16,150.
• Price range: shares were sold in multiple trades at prices between $23.16 and $23.93 (reporting person can provide per-trade breakdown on request).
• Reason noted: tax withholding in connection with RSU vesting (footnote).
• Reporting person/title: EVP, Chief Medical Officer.
• Shares owned after transaction: not disclosed in the provided summary of the filing.

Context

• Sales to cover tax withholding on vested RSUs are common and typically routine; they do not necessarily signal a change in the insider’s view of the company’s prospects.
• No 10b5-1 trading plan or other trading program is indicated in the provided notes.