Form 4: Arcutis Biotherapeutics CEO Todd Watanabe Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Arcutis Biotherapeutics CEO Todd Franklin Watanabe sold 1,200 shares of common stock at an average price of $17.6142, pursuant to a pre-arranged 10b5-1 trading plan.
Summary
- Todd Franklin Watanabe, CEO of Arcutis Biotherapeutics, sold 1,200 shares of common stock on March 17, 2025.
- The sale was executed under a 10b5-1 trading plan adopted on June 14, 2024, with a plan end date of September 30, 2025.
- The shares were sold at a weighted average price of $17.6142, with individual transactions ranging from $17.5300 to $17.6600.
- Following the transaction, Watanabe directly owns 928,914 shares of Arcutis Biotherapeutics.
- Watanabe also indirectly owns shares through various trusts and an LLC, including 24,413 shares held by The John Franklin Watanabe Trust, 24,413 shares held by The Anderson Prest Watanabe Irrevocable Trust, 57,358 shares held by Watanabe Ventures, LLC, and 124,956 shares held by The Watanabe 2016 Irrevocable Trust.
- Watanabe disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding stock sales by an insider. It is neutral in tone and does not contain information that would significantly impact investor sentiment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information. The sale is relatively small and unlikely to have a significant impact on the stock price.
Key Dates
| Date | Description |
|---|---|
| 06/14/2024 | Date of adoption of the 10b5-1 trading plan |
| 03/17/2025 | Date of the transaction (stock sale) |
| 03/20/2025 | Date of signature on the Form 4 filing |
| 09/30/2025 | End date of the 10b5-1 trading plan |
Keywords
Arcutis Biotherapeutics, ARQT, Todd Franklin Watanabe, SEC Form 4, 10b5-1 trading plan, insider trading, stock sale, beneficial ownership
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