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

Masaru Matsuda, Senior Vice President and General Counsel of Arcutis Biotherapeutics, sold 5,220 shares of common stock on August 2, 2024, to satisfy tax withholding obligations related to vesting Restricted Stock Units.

Summary

• On August 2, 2024, Masaru Matsuda, Senior Vice President and General Counsel of Arcutis Biotherapeutics, sold 5,220 shares of the company's common stock.
• The sale was executed under a Rule 10b5-1 trading plan to cover tax obligations associated with the vesting of Restricted Stock Units.
• The shares were sold at a weighted average price of $9.0161, with individual transactions ranging from $8.74 to $9.26.
• Following the transaction, Matsuda directly owns 183,288 shares of Arcutis Biotherapeutics.
• The reporting person undertakes to provide full information regarding the number of shares sold at each respective price within the range set forth in this footnote upon request.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by company executives are a normal part of corporate governance. It is important to note that the sale was to cover tax obligations and was executed under a pre-arranged trading plan.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant effect given the reason for the sale and the relatively small number of shares involved.

Key Dates