Form 4: Arcutis Biotherapeutics SVP Matthew Moore Sells Shares to Cover Tax Obligations

Arcutis Biotherapeutics' SVP and Chief Business Officer, Matthew Richard Moore, sold 3,468 shares of common stock on March 4, 2024, to cover tax obligations related to vesting Restricted Stock Units.

Summary

• Matthew Richard Moore, SVP and Chief Business Officer of Arcutis Biotherapeutics, Inc., sold 3,468 shares of common stock on March 4, 2024.
• The sale was executed at a weighted average price of $11.1212 per share, with individual trades ranging from $11.000 to $11.3200.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan to satisfy tax withholding obligations related to the vesting of Restricted Stock Units.
• Following the transaction, Moore directly owns 146,020 shares of Arcutis Biotherapeutics common stock.

Sentiment

Score: 6

Explanation: The document reports a routine stock sale by an executive to cover tax obligations, which is a neutral event. The use of a 10b5-1 plan suggests transparency and pre-planning, further supporting a neutral sentiment.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. Often these sales are pre-planned to avoid any perception of insider trading.

Key Dates