Masaru Matsuda, Executive Vice President and Chief Legal Officer of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), filed a Form 4 on September 18, 2026, reporting the sale of 3,674 shares of common stock on September 16, 2026.

Key Highlights

  • Shares sold: 3,674 shares of Arcutis Biotherapeutics common stock were disposed of on September 16, 2026.
  • Weighted average price: Shares were sold at a weighted average price of $25.0009, with individual transactions ranging from $25.00 to $25.01, inclusive.
  • Post-transaction ownership: Matsuda directly beneficially owned 112,508 shares following the reported transaction.
  • 10b5-1 plan: The sale was made pursuant to a Rule 10b5-1 trading plan adopted on June 5, 2026, with a plan end date of September 1, 2027.
  • Filing signed by: Latha Vairavan, as Attorney-in-Fact for Masaru Matsuda, on September 18, 2026.

Arcutis CLO Matsuda Reports Open-Market Sale Under 10b5-1 Plan

According to the Form 4 filed with the U.S. Securities and Exchange Commission on September 18, 2026, Masaru Matsuda, EVP and Chief Legal Officer of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), disposed of 3,674 shares of the company's common stock on September 16, 2026. The filing indicates the transaction code was "S," reflecting an open-market sale. The shares were sold at a weighted average price of $25.0009, with individual transactions occurring at prices ranging from $25.00 to $25.01, inclusive.

The filing discloses that the sale was effected pursuant to a Rule 10b5-1 trading plan that Matsuda adopted on June 5, 2026, with a stated plan end date of September 1, 2027. The filing notes that Matsuda "undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote." Following the reported transaction, Matsuda directly beneficially owned 112,508 shares of Arcutis Biotherapeutics common stock.

No derivative securities transactions were reported in this filing. The Form 4 was signed by Latha Vairavan as Attorney-in-Fact for Masaru Matsuda and carries a filing date of September 18, 2026. The filing also indicates that a box was checked to reflect that the transaction was made pursuant to a contract, instruction, or written plan satisfying the affirmative defense conditions of Rule 10b5-1(c).

What Was Disclosed

The filing reported a single open-market sale of 3,674 shares of Arcutis Biotherapeutics common stock by the company's Chief Legal Officer on September 16, 2026, conducted under a pre-established 10b5-1 trading plan, leaving Matsuda with direct ownership of 112,508 shares.