Form 4: Arcutis Biotherapeutics Executive Sells Shares to Cover Tax Obligations

Masaru Matsuda, Senior Vice President and General Counsel of Arcutis Biotherapeutics, sold 3,760 shares of common stock on March 4, 2024, to satisfy tax withholding obligations related to vesting Restricted Stock Units.

Summary

• On March 4, 2024, Masaru Matsuda, Senior Vice President and General Counsel of Arcutis Biotherapeutics, sold 3,760 shares of the company's common stock.
• The sale was executed at a weighted average price of $11.1212 per share, with individual transactions ranging from $11.000 to $11.3200.
• Following the transaction, Matsuda directly owns 190,424 shares of Arcutis Biotherapeutics.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan to cover tax withholding obligations associated with the vesting of Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transaction is a routine sale to cover tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.

Industry Context

Sales by company executives are a normal part of corporate governance. Sales to cover tax obligations are common and do not necessarily indicate a negative outlook on the company.

Key Dates