Masaru Matsuda, an officer of Arcutis Biotherapeutics, Inc., filed a Form 144 notice on November 4, 2026, disclosing a proposed sale of 40,000 shares of common stock on NASDAQ under Rule 144 of the Securities Act of 1933.

Key Highlights

  • Proposed sale: Masaru Matsuda, an officer, intends to sell 40,000 shares of Arcutis Biotherapeutics common stock.
  • Aggregate market value: The proposed sale carries an aggregate market value of $1,372,670.48, according to the filing.
  • Shares outstanding: The filing states that 126,455,033 shares of common stock are outstanding.
  • Acquisition source: The 40,000 shares were acquired on January 12, 2024, via stock option exercise from Arcutis Biotherapeutics, with payment in cash on November 4, 2026.
  • 10b5-1 plan: The filing indicates a Rule 10b5-1 plan adoption date of June 5, 2026.
  • Prior sales in past 3 months: Matsuda sold 9,989 shares on September 8, 2026 (gross proceeds $249,986.12), 3,674 shares on September 16, 2026 (gross proceeds $91,853.24), and 1,219 shares on November 2, 2026 (gross proceeds $38,841.48).
  • Broker: The proposed sale is to be executed through Merrill Lynch, located at 8890 Lyra Drive, 5th Floor, Columbus, OH 43240.

Matsuda's Proposed Sale: Acquisition History and Recent Transactions at Arcutis Biotherapeutics

According to the Form 144 notice filed with the U.S. Securities and Exchange Commission on November 4, 2026, Masaru Matsuda, identified as an officer of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), intends to sell 40,000 shares of the company's common stock. The filing lists the approximate date of sale as November 4, 2026, with Merrill Lynch serving as the executing broker. The aggregate market value of the proposed sale is listed as $1,372,670.48.

The filing discloses that the 40,000 shares subject to this proposed sale were acquired on January 12, 2024, through a stock option exercise from Arcutis Biotherapeutics, with cash payment recorded as of November 4, 2026. The filing also notes that Matsuda adopted a Rule 10b5-1 written trading plan on June 5, 2026, which the notice relies upon in connection with this proposed sale.

In the three months prior to this notice, the filing reports that Matsuda sold 9,989 shares on September 8, 2026, generating gross proceeds of $249,986.12; 3,674 shares on September 16, 2026, generating gross proceeds of $91,853.24; and 1,219 shares on November 2, 2026, generating gross proceeds of $38,841.48. As of the filing date, the company reported 126,455,033 shares of common stock outstanding.

What Was Disclosed

Masaru Matsuda, an officer of Arcutis Biotherapeutics, filed a Form 144 notice proposing to sell 40,000 shares of common stock with an aggregate market value of $1,372,670.48, acquired via stock option exercise, under a Rule 10b5-1 plan adopted June 5, 2026.