Burnett Patrick 4
4 · Arcutis Biotherapeutics, Inc. · Filed May 13, 2026
Research Summary
AI-generated summary of this filing
Arcutis (ARQT) EVP Patrick Burnett Sells 222 Shares
What Happened
Patrick Burnett, EVP and Chief Medical Officer of Arcutis Biotherapeutics (ARQT), sold 222 shares in an open-market or private sale on May 11, 2026. The shares were sold at $21.05 each for proceeds of about $4,673. This sale was reported as a tax-withholding transaction tied to the vesting of restricted stock units (RSUs), a routine disposition rather than a directional investment bet.
Key Details
- Transaction date: 2026-05-11
- Transaction type/code: Sale (S); reported proceeds ≈ $4,673
- Price per share: $21.05; Shares sold: 222
- Footnote: F1 — sale was to cover tax withholding obligations from RSU vesting
- Shares owned after transaction: Not specified in the Form 4 filing
- Filing date: 2026-05-13 (filed within the standard 2-business-day window; not reported late)
Context
This was a tax-withholding sale tied to RSU vesting (not a purchase or an exercise followed by a speculative sale). Such transactions are common when executives sell a portion of vested shares to satisfy payroll/tax obligations and do not necessarily indicate a change in their view of the company.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-05-11$21.05/sh−222$4,673→ 120,244 total
Footnotes (1)
- [F1]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 Restricted Stock Units.