Watanabe Todd 4

What Happened

• Todd Watanabe, President and Chief Executive Officer of Arcutis Biotherapeutics (ARQT), reported an open-market sale of 3,172 shares on May 4, 2026. The weighted-average sale price was $23.61, for total proceeds of about $74,893. The filing notes the sale was made to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).

Key Details

• Transaction date: May 4, 2026; Form 4 filed May 6, 2026 (timely).
• Sale type/code: Open-market sale (S); transaction purpose: tax withholding for RSU vesting (F1/F4).
• Price: Weighted average $23.61; individual trade prices ranged $23.16–$23.93 (F2).
• Shares sold: 3,172; proceeds ≈ $74,893.
• Shares owned after transaction: Not specified in this Form 4.
• Other notable footnotes: filing discloses transfers to an ex-spouse under a domestic relations order (F3) and multiple holdings held of record by trusts/LLC for which Watanabe is trustee or officer, with disclaimers of beneficial ownership (F4–F7). The filer offers to provide a breakdown of the number of shares sold at each price within the reported range upon request (F2).

Context

• This sale was a tax-withholding transaction tied to RSU vesting, which is a common administrative sale and does not necessarily signal the insider's view on the company's prospects. No exercise of options or gifts were reported.