Patrick Burnett, EVP and Chief Medical Officer of Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), filed a Form 4 on November 4, 2026, disclosing the sale of 943 shares of common stock on November 2, 2026, to cover tax withholding obligations arising from the vesting of Restricted Stock Units.

Key Highlights

  • Reporting person: Patrick Burnett, EVP and Chief Medical Officer of Arcutis Biotherapeutics, Inc.
  • Transaction: 943 shares of common stock disposed of (transaction code S) on November 2, 2026.
  • Purpose: According to the filing, the sale represents shares sold to cover tax withholding obligations in connection with the vesting of Restricted Stock Units.
  • Weighted average price: $31.8634 per share, with individual transactions ranging from $31.57 to $32.23, inclusive.
  • Remaining ownership: Following the transaction, Burnett directly beneficially owns 116,649 shares of common stock.
  • Signing: The form was signed by Latha Vairavan as Attorney-in-Fact for Patrick Burnett on November 4, 2026.

Arcutis CMO Patrick Burnett Discloses RSU Tax-Withholding Sale on November 2, 2026

According to the Form 4 filed with the U.S. Securities and Exchange Commission, Patrick Burnett, serving as Executive Vice President and Chief Medical Officer at Arcutis Biotherapeutics, Inc., disposed of 943 shares of the company's common stock on November 2, 2026. The filing identifies this as a sale executed to satisfy tax withholding obligations connected to the vesting of Restricted Stock Units, not an open-market discretionary sale.

The filing reports a weighted average sale price of $31.8634 per share. The shares were sold across multiple transactions at prices ranging from $31.57 to $32.23, inclusive. The filing notes that Burnett "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, Burnett's direct beneficial ownership of Arcutis Biotherapeutics common stock stands at 116,649 shares, as stated in the filing. No derivative securities transactions were reported in Table II of this Form 4. The form was filed by one reporting person and was signed by Latha Vairavan as Attorney-in-Fact for Patrick Burnett on November 4, 2026.

What Was Disclosed

Arcutis Biotherapeutics (NASDAQ:ARQT) EVP and Chief Medical Officer Patrick Burnett disclosed the disposal of 943 common shares on November 2, 2026, at a weighted average price of $31.8634, solely to cover RSU vesting tax obligations, leaving him with 116,649 shares directly owned.