Form 4: Arcus Biosciences CFO Sells Shares for Tax Obligations

Arcus Biosciences' Chief Financial Officer, Robert C. Goeltz II, sold shares to cover tax withholding obligations related to RSU vesting.

Summary

• Robert C. Goeltz II, Chief Financial Officer of Arcus Biosciences, Inc., executed sales of common stock.
• These sales were non-discretionary, performed by the issuer on his behalf to cover tax withholding obligations upon the vesting of certain Restricted Stock Units (RSUs).
• On December 16, 2025, 6,702 shares were sold at a weighted average price of $21.8843 per share, with prices ranging from $21.42 to $22.39.
• On December 17, 2025, an additional 5,960 shares were sold at a weighted average price of $22.1595 per share, with prices ranging from $21.92 to $22.42.
• Following these transactions, Robert C. Goeltz II beneficially owns 74,476 shares of Arcus Biosciences common stock, which includes unvested RSU grants.
• The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating they were pre-scheduled.

Sentiment

Score: 5

Explanation: Neutral. This is a routine, non-discretionary transaction for tax purposes, which is a common occurrence for executives receiving equity compensation. It does not indicate a change in management's outlook on the company.

Positives

• The sales were non-discretionary and specifically for tax withholding, indicating a routine event rather than a discretionary sale by management.
• Transactions were executed under a Rule 10b5-1(c) plan, demonstrating pre-planned compliance with insider trading rules.

Negatives

• No specific negatives are indicated by this routine tax-related share sale.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sale occurred automatically pursuant to the Issuer's equity administration policy, which was implemented on May 22, 2025, and does not represent a discretionary trade by the reporting person.

Industry Context

This routine insider transaction, specifically for tax withholding purposes, is a common occurrence across publicly traded companies, particularly for executives receiving equity compensation. It does not reflect broader industry trends or competitive positioning.

Comparison to Industry Standards

• This filing details a standard practice for executives in publicly traded companies to cover tax obligations arising from the vesting of equity awards.
• Such transactions are common across the biotechnology and pharmaceutical sectors, where equity compensation is a significant component of executive remuneration.
• There are no specific comparable companies or projects mentioned as this is a personal transaction for tax purposes.

Corporate Governance

Stakeholder Impact

• Minimal impact on shareholders as these are routine, non-discretionary sales for tax purposes, not indicative of a change in management's confidence.
• Employees receiving equity compensation may view this as a standard process for managing tax liabilities associated with RSU vesting.

Key Dates

Keywords

Arcus Biosciences, RCUS, Form 4, Insider Trading, Stock Sale, CFO, Robert C. Goeltz II, Tax Withholding, RSU Vesting, Equity Compensation, Rule 10b5-1