Form 4: Arrowhead Pharmaceuticals Director Sells Shares Under 10b5-1 Plan

A director at Arrowhead Pharmaceuticals, William D. Waddill, sold a total of 7,495 shares of common stock over two days under a pre-arranged 10b5-1 trading plan.

Summary

• William D. Waddill, a director at Arrowhead Pharmaceuticals, sold 3,748 shares of common stock on December 16, 2024, at a weighted average price of $21.90.
• He then sold an additional 3,747 shares on December 17, 2024, at a weighted average price of $22.04.
• These sales were executed under a 10b5-1 trading plan previously adopted by the director.
• The transactions also included a partial disposition of Restricted Stock Units (RSUs) to cover tax withholding obligations.
• Following these transactions, Mr. Waddill still beneficially owns 40,378 shares of common stock, including shares underlying unvested RSUs.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction by a company director under a pre-arranged plan. It is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing related to insider trading activity and is common for publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Sales by directors under 10b5-1 plans are a common practice across the industry, including companies like Alnylam Pharmaceuticals (ALNY) and Ionis Pharmaceuticals (IONS), which also have directors who regularly sell shares under similar plans.
• The volume of shares sold is relatively small compared to the total outstanding shares of Arrowhead Pharmaceuticals, and the price range is within the typical daily fluctuations of the stock.
• The use of weighted average prices for reporting is standard practice for sales executed over multiple transactions.

Stakeholder Impact

• The share sales by the director may have a minor impact on the stock price, but the effect is likely to be minimal due to the relatively small volume of shares sold.

Key Dates

Keywords

Arrowhead Pharmaceuticals, ARWR, insider trading, Form 4, 10b5-1 plan, stock sale, director, William D. Waddill, equity securities, restricted stock units