Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-18

Arcutis Biotherapeutics, Inc. (ARQT)

CEO Todd Franklin Watanabe was paid $7,223,065 in fiscal year 2025, ↑ up 95.8% from fiscal year 2024, the 50th percentile of its disclosed peer group (SEC filing 0001787306-26-000028 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$7,223,065 ↑
Todd Franklin Watanabe total, FY2025
50th
CEO pay percentile vs peers
28:1
CEO-to-median pay ratio
95.97%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Todd Franklin Watanabe (President and Chief Executive Officer), FY2025 total compensation $7,223,065 (base salary $713,333) [exec_comp, SEC accession 0001787306-26-000028, filed 2026-04-21]

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ARQT's next annual pay disclosure, estimated April 13, 2027.est. Filing ↗

Page 2 of 36 of the Arcutis Biotherapeutics, Inc. Executive Compensation Report, as it is delivered: Executive Summary.

That is page 2 of 36 of the full Executive Compensation Report, shown as it is delivered. The rest:

  1. Summary Compensation Table
  2. Equity transactions since the proxy statement
  3. Grants of plan-based awards
  4. Outstanding equity awards at fiscal year-end
  5. Incentive-plan design (CD&A)
  6. Say-on-pay
  7. CEO pay ratio
  8. Director compensation
  9. Board fee structure and ownership guideline
  10. Disclosed peer group
  11. Source register

Every figure above cites the filing it came from (accession 0001787306-26-000028, filed 2026-09-18) — see the source register, §11.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Todd Franklin Watanabe$713,333$0$2,067,190$3,848,958$579,584$0$14,000$7,223,065
President and Chief Executive Officer
L. Todd Edwards535,0000752,9501,380,182334,376027,8293,030,337
Executive Vice President and Chief Commercial Officer
Patrick Burnett535,0000752,9501,380,182334,376014,0003,016,508
Executive Vice President and Chief Medical Officer
Masaru Matsuda495,1670465,460865,044278,532014,0002,118,203
Executive Vice President, Chief Legal Officer and Corporate Secretary
David Topper196,4580465,460865,04400419,7711,946,733
Former Chief Financial Officer
Latha Vairavan419,4850440,413839,463213,402012,0171,924,780
Senior Vice President and Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Todd Franklin Watanabe$7,223,065$3,689,491$4,935,266↑ +3,533,574
L. Todd Edwards3,030,3371,965,1451,657,847↑ +1,065,192
Patrick Burnett3,016,5082,513,0501,666,345↑ +503,458
Masaru Matsuda2,118,2031,737,5321,603,149↑ +380,671
David Topper1,946,7335,311,203—↓ −3,364,470
Latha Vairavan1,924,780———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$7,223,065 Todd Franklin Watanabe total, FY2025

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Data as of September 18, 2026 · Source: 0001787306-26-000028 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against ARQT
9 companies name ARQT as a compensation peer

Each company listed discloses ARQT in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ARQT in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
David TopperCFO$1,946,733
L. Todd EdwardsCCO$3,030,337
Latha VairavanCFO$1,924,780
Masaru MatsudaGeneral Counsel$2,118,203
Patrick BurnettEVP$3,016,508
Todd Franklin WatanabeCEO$7,223,065
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Amit D. MunshiIndependent Director$499,243
Bhaskar ChaudhuriIndependent Director$352,510
Halley GilbertIndependent Director$352,456
Howard G. WelgusIndependent Director$347,456
Keith R. LeonardIndependent Director$384,956
Neha KrishnamohanIndependent Director$352,456
Patrick J. HeronIndependent Director$349,956
Sue-Jean LinIndependent Director$367,456
Terrie CurranIndependent Director$352,456
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Howard G. WelgusDirector2026-05-01D7,144$23$164,220Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-05-04D6842416,150Common, open-market saleForm 4 ↗
Masaru MatsudaSee Remarks2026-05-04D7,37223171,543Common, open-market saleForm 4 ↗
Todd Franklin WatanabeDirector2026-05-04D3,1722474,893Common, open-market saleForm 4 ↗
Latha VairavanSVP Chief Financial Officer2026-05-04D1,3412431,662Common, open-market saleForm 4 ↗
Masaru MatsudaSee Remarks2026-05-04D8842420,872Common, open-market saleForm 4 ↗
Latha VairavanSVP Chief Financial Officer2026-05-11D435219,157CommonForm 4 ↗
Patrick BurnettSee Remarks2026-05-11D222214,673CommonForm 4 ↗
Neha KrishnamohanDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Neha KrishnamohanDirector2026-06-05A5,77800CommonForm 4 ↗
Sue-Jean LinDirector2026-06-05A5,77800CommonForm 4 ↗
Halley GilbertDirector2026-06-05A5,77800CommonForm 4 ↗
Amit D. MunshiDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Amit D. MunshiDirector2026-06-05A5,77800CommonForm 4 ↗
Terrie CurranDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Keith R. LeonardDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-05A5,77800CommonForm 4 ↗
Patrick J. HeronDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Patrick J. HeronDirector2026-06-05A5,77800CommonForm 4 ↗
Halley GilbertDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-06-05A5,77800CommonForm 4 ↗
Keith R. LeonardDirector2026-06-05A5,77800CommonForm 4 ↗
Sue-Jean LinDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-06-15—1,841——1 insider, 2 accrual rows
Sue-Jean LinDirector2026-06-15D4,94624120,587Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-06-15D2,25500Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15D4,0962499,980Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-06-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15A82275,361CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-06-17D6352616,300CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A1,01987,653CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A21,48600Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-07-15—1,841——1 insider, 2 accrual rows
Howard G. WelgusDirector2026-07-15D4,73027127,284CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A82275,361CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A13,01000Derivative, Class A CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A4,31500CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15D2,25500Derivative, Class A CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-08-03D1,2302632,124Common, open-market saleForm 4 ↗
Todd Franklin WatanabeDirector2026-08-03D4,37526114,261Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-03D9552624,942Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-11D8,30000Derivative, Class A CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-11D8,30027220,129Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-11A8,300430,212CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-12D6,70000Derivative, Class A CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-12D6,70026174,767Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-12A6,700424,388CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17D4,73026123,835Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-08-17D2,25500Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-08-17—1,841——1 insider, 2 accrual rows
Howard G. WelgusDirector2026-08-17A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17A82275,361CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-19D1,6972745,819CommonForm 4 ↗
Terrie CurranDirector2026-08-20D1,0722627,912Common, open-market saleForm 4 ↗
Dividend-equivalent accruals2026-08-20—1,072——1 insider, 1 accrual row
Terrie CurranDirector2026-08-20A1,07288,051CommonForm 4 ↗
Terrie CurranDirector2026-08-27D11,14800Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-08-27D27,05200Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-08-27D27,05225677,095Common, open-market saleForm 4 ↗
Terrie CurranDirector2026-08-27A27,0529233,459CommonForm 4 ↗
Terrie CurranDirector2026-08-27D11,14825279,028Common, open-market saleForm 4 ↗
Terrie CurranDirector2026-08-27A11,148883,721CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-09-08D9,98925249,986Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-09-15A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15D2,25500Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-09-15—1,841——1 insider, 2 accrual rows
Howard G. WelgusDirector2026-09-15D4,73024114,371CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15A82275,361CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-09-16D3,6742591,853Common, open-market saleForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 78 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Howard G. WelgusDirector2026-05-01D7,144$23$164,220Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-05-04D6842416,150Common, open-market saleForm 4 ↗
Masaru MatsudaSee Remarks2026-05-04D7,37223171,543Common, open-market saleForm 4 ↗
Todd Franklin WatanabeDirector2026-05-04D3,1722474,893Common, open-market saleForm 4 ↗
Latha VairavanSVP Chief Financial Officer2026-05-04D1,3412431,662Common, open-market saleForm 4 ↗
Masaru MatsudaSee Remarks2026-05-04D8842420,872Common, open-market saleForm 4 ↗
Latha VairavanSVP Chief Financial Officer2026-05-11D435219,157CommonForm 4 ↗
Patrick BurnettSee Remarks2026-05-11D222214,673CommonForm 4 ↗
Neha KrishnamohanDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Neha KrishnamohanDirector2026-06-05A5,77800CommonForm 4 ↗
Sue-Jean LinDirector2026-06-05A5,77800CommonForm 4 ↗
Halley GilbertDirector2026-06-05A5,77800CommonForm 4 ↗
Amit D. MunshiDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Amit D. MunshiDirector2026-06-05A5,77800CommonForm 4 ↗
Terrie CurranDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Keith R. LeonardDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-05A5,77800CommonForm 4 ↗
Patrick J. HeronDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Patrick J. HeronDirector2026-06-05A5,77800CommonForm 4 ↗
Halley GilbertDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-06-05A5,77800CommonForm 4 ↗
Keith R. LeonardDirector2026-06-05A5,77800CommonForm 4 ↗
Sue-Jean LinDirector2026-06-05A16,66700Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15D1,01900Derivative, Class A CommonForm 4 ↗
Sue-Jean LinDirector2026-06-15D4,94624120,587Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-06-15D2,25500Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15D82200Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15D4,0962499,980Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-06-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15A82275,361CommonForm 4 ↗
Howard G. WelgusDirector2026-06-15A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-06-17D6352616,300CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A1,01987,653CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A21,48600Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15D1,01900Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15D82200Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15D4,73027127,284CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15A82275,361CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A13,01000Derivative, Class A CommonForm 4 ↗
Christopher PeetzDirector2026-07-15A4,31500CommonForm 4 ↗
Howard G. WelgusDirector2026-07-15D2,25500Derivative, Class A CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-08-03D1,2302632,124Common, open-market saleForm 4 ↗
Todd Franklin WatanabeDirector2026-08-03D4,37526114,261Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-03D9552624,942Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-11D8,30000Derivative, Class A CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-11D8,30027220,129Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-11A8,300430,212CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-12D6,70000Derivative, Class A CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-12D6,70026174,767Common, open-market saleForm 4 ↗
Patrick BurnettSee Remarks2026-08-12A6,700424,388CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17D4,73026123,835Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-08-17D2,25500Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17D1,01900Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17D82200Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-08-17A82275,361CommonForm 4 ↗
Patrick BurnettSee Remarks2026-08-19D1,6972745,819CommonForm 4 ↗
Terrie CurranDirector2026-08-20D1,0722627,912Common, open-market saleForm 4 ↗
Terrie CurranDirector2026-08-20D1,07200Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-08-20A1,07288,051CommonForm 4 ↗
Terrie CurranDirector2026-08-27D11,14800Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-08-27D27,05200Derivative, Class A CommonForm 4 ↗
Terrie CurranDirector2026-08-27D27,05225677,095Common, open-market saleForm 4 ↗
Terrie CurranDirector2026-08-27A27,0529233,459CommonForm 4 ↗
Terrie CurranDirector2026-08-27D11,14825279,028Common, open-market saleForm 4 ↗
Terrie CurranDirector2026-08-27A11,148883,721CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-09-08D9,98925249,986Common, open-market saleForm 4 ↗
Howard G. WelgusDirector2026-09-15A1,01987,653CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15D2,25500Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15D1,01900Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15D82200Derivative, Class A CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15D4,73024114,371CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15A2,255919,461CommonForm 4 ↗
Howard G. WelgusDirector2026-09-15A82275,361CommonForm 4 ↗
Masaru MatsudaSee Remarks2026-09-16D3,6742591,853Common, open-market saleForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Patrick BurnettRSU2025-02-28——38,000—$520,220
Patrick BurnettOPTION2025-02-28——99,000—962,240
Patrick BurnettOPTION2025-02-28——43,000—417,942
Latha VairavanRSU2025-02-28——11,250—154,013
Latha VairavanOPTION2025-02-28——23,750—230,840
David TopperOPTION2025-02-28——89,000—865,044
Latha VairavanOPTION2025-05-06——60,000—608,623
Latha VairavanRSU2025-05-06——20,000—286,400
Patrick BurnettRSU2025-02-28——17,000—232,730
David TopperRSU2025-02-28——34,000—465,460
Todd Franklin WatanabeOPTION2025-02-28——396,000—3,848,958
Todd Franklin WatanabeRSU2025-02-28——151,000—2,067,190
L. Todd EdwardsRSU2025-02-28——17,000—232,730
Masaru MatsudaRSU2025-02-28——34,000—465,460
Masaru MatsudaOPTION2025-02-28——89,000—865,044
L. Todd EdwardsRSU2025-02-28——38,000—520,220
L. Todd EdwardsOPTION2025-02-28——43,000—417,942
L. Todd EdwardsOPTION2025-02-28——99,000—962,240
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Patrick Burnett$752,950$0$1,380,1820.0%
Latha Vairavan440,4130839,4630.0%
David Topper465,4600865,0440.0%
Todd Franklin Watanabe2,067,19003,848,9580.0%
L. Todd Edwards752,95001,380,1820.0%
Masaru Matsuda465,4600865,0440.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
L. Todd EdwardsRSU38,000—$1,103,520
L. Todd EdwardsRSU17,000—493,680
Patrick BurnettRSU11,625—337,590
Latha VairavanRSU8,625—250,470
Latha VairavanRSU237—6,882
Todd Franklin WatanabeRSU43,750—1,270,500
L. Todd EdwardsRSU21,000—609,840
Todd Franklin WatanabeRSU48,375—1,404,810
Patrick BurnettRSU21,000—609,840
Todd Franklin WatanabeRSU151,000—4,385,040
Masaru MatsudaRSU10,500—304,920
L. Todd EdwardsRSU30,000—871,200
Latha VairavanOption143,7503.64—
Todd Franklin WatanabeRSU93,750—2,722,500
Patrick BurnettRSU38,000—1,103,520
Masaru MatsudaRSU34,000—987,360
Masaru MatsudaRSU21,000—609,840
Latha VairavanRSU20,000—580,800
Todd Franklin WatanabeRSU17,725—514,734
Patrick BurnettRSU17,000—493,680
Todd Franklin WatanabeRSU15,889—461,417
Masaru MatsudaRSU11,625—337,590
Masaru MatsudaRSU11,456—332,682
Latha VairavanRSU11,250—326,700
Patrick BurnettRSU10,500—304,920
Patrick BurnettRSU4,450—129,228
Patrick BurnettRSU4,187—121,590
Patrick BurnettRSU4,144—120,342
Latha VairavanRSU4,050—117,612
Patrick BurnettOption80,43713.69—
Masaru MatsudaRSU3,325—96,558
Latha VairavanRSU2,225—64,614
Todd Franklin WatanabeOption321,75013.69—
Patrick BurnettOption34,93713.69—
Todd Franklin WatanabeOption213,5423.64—
Todd Franklin WatanabeOption34417.67—
Latha VairavanOption1,56215.82—
Latha VairavanOption19,29713.69—
Latha VairavanOption22,6563.64—
Latha VairavanOption51,25014.32—
Patrick BurnettOption110,0005.58—
L. Todd EdwardsOption91,6673.64—
L. Todd EdwardsOption80,43713.69—
L. Todd EdwardsOption34,93713.69—
Masaru MatsudaOption72,31213.69—
05

Incentive-plan design — the Compensation Discussion & Analysis

The executive compensation program is designed to attract and retain key talent, motivate and reward attainment of rigorous annual corporate performance goals, and provide long-term incentives in the form of equity-based compensation to drive an ownership mentality and alignment with shareholders.

CEO STI target (% of salary)65%
CEO LTI target (% of salary)—
Independent consultantPay Governance LLC
Clawback policytrue
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-0588,728,2693,723,408824,86095.97%Passed
20252025-06-1274,469,06013,477,5861,185,19384.68%Passed
20242024-06-1456,906,21526,716,60255,14268.05%Passed
20232023-05-3143,770,3137,343,87428,77285.63%Passed
20222022-06-0141,014,2562,066,501501,67795.2%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0595.97%a
20252025-06-1284.68%b
20242024-06-1468.05%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast and thus will have no effect, however, Proposal No.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast and thus will have no effect, however, Proposal No.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered votes cast and will not be counted in determining the outcome of the advisory vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)28 : 1
CEO total compensation$7,223,065
Median employee compensation$262,613
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Amit D. MunshiIndependent · Compensation (Chair)$4,946$92,794$401,503—$0$499,243
Keith R. LeonardIndependent · Compensation92,500102,722189,734—0384,956
Sue-Jean LinIndependent · Audit (Chair) · Nominating and Corporate Governance · Executive75,000102,722189,734—0367,456
Bhaskar ChaudhuriIndependent · Compensation60,054102,722189,734—0352,510
Neha KrishnamohanIndependent · Audit60,000102,722189,734—0352,456
Terrie CurranIndependent · Nominating and Corporate Governance60,000102,722189,734—0352,456
Halley GilbertIndependent · Audit · Nominating and Corporate Governance60,000102,722189,734—0352,456
Patrick J. HeronIndependent · Compensation57,500102,722189,734—0349,956
Howard G. WelgusIndependent · Nominating and Corporate Governance55,000102,722189,734—0347,456
Todd Franklin WatanabeEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$50,000
Annual equity retainer$300,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000 / 15,000 / 10,000
Stock ownership guideline3x annual cash retainer for non-employee directors; 3x annual base salary for CEO
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$525,000
Equity awards (grant-date value)$914,570
All other compensation$0
Total cost of the board$1,439,570

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Arcutis Biotherapeutics, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Arcutis Biotherapeutics, Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1BioCryst Pharmaceuticals2025Jon Stonehouse$728,466$0$11,132,458$1,052,633$12,951,082
2Protagonist Therapeutics2025Dinesh Patel715,5005,839,2045,618,010686,88012,871,506
3Vericel2025Dominick Colangelo860,0003,964,6305,456,287860,00011,156,368
4Mirum Pharmaceuticals2025Christopher Peetz755,0003,683,9044,931,3201,057,00010,441,224
5MannKind Corporation2025Michael Castagna789,4367,689,4800675,7579,300,485
6Travere Therapeutics2025Eric Dube854,2503,314,5203,309,384964,1258,457,151
7Dynavax Technologies2024Ryan Spencer835,0014,902,1501,824,299641,9078,210,775
8Ardelyx2025Michael Raab797,0002,953,7243,413,948627,6387,796,171
9Arcutis Biotherapeutics, Inc.2025Todd Franklin Watanabe713,3332,067,1903,848,958579,5847,223,065
10Sage Therapeutics2024Barry Greene830,7123,164,3642,669,263431,9707,112,589
11Phathom Pharmaceuticals2025Steven Basta525,0001,986,6003,983,144455,7016,968,070
12Tarsus Pharmaceuticals2025Bobak Azamian726,3332,648,2842,651,487555,7006,617,979
13Evolus2025David Moatazedi775,0003,886,5691,296,697429,0006,412,214
14AnaptysBio2025Daniel Faga706,0111,592,0013,345,653465,9686,133,943
15Agios Pharmaceuticals2025Brian Goff846,8641,291,6802,627,252592,8045,370,389
16Y-mAbs Therapeutics2024Michael Rossi705,6001,170,7322,288,662392,5964,557,590
17Vanda Pharmaceuticals2025Mihael Polymeropoulos965,6552,007,0000834,3263,851,468

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Arcutis Biotherapeutics, Inc.125%not disclosedNoPay Governance LLC
Agios Pharmaceuticals100%Option 40 · PSU 40 · RSU 20NoAon
AnaptysBio110%not disclosedNoAlpine Rewards
Ardelyx105%Options 50 · RSU 50not disclosedPearl Meyer
BioCryst Pharmaceuticalsnot disclosednot disclosednot disclosedAon
Dynavax Technologies102.5%Options 34 · RSU 33 · PSU 33Yes — Relative Total Stockholder Return (rTSR) ranking vs. Nasdaq Biotechnology IndexAlpine
Evolus55%not disclosedNoRadford, an Aon Company
MannKind Corporation107%PSU 55 · RSU 45Yes — Total Stockholder Return (TSR) relative to Russell 3000 Pharmaceutical & Biotechnology IndexMercer LLC
Mirum Pharmaceuticals200%Option 47.2 · PSU 17.6 · RSU 17.6NoAlpine Rewards
Phathom Pharmaceuticals124%not disclosedNoPay Governance LLC
Protagonist Therapeutics160%Options 50 · RSU 50not disclosedAon Human Capital Solutions
Sage Therapeutics80%not disclosedYes — TSR milestones / Relative TSR vs. Nasdaq Biotechnology IndexAlpine Rewards
Tarsus Pharmaceuticals108%Options 50 · RSU 50NoPay Governance
Travere Therapeutics150%not disclosedNoAon
Vanda Pharmaceuticals108%not disclosedYes — Relative TSRWillis Towers Watson
Vericel100%Options 58 · RSU 42not disclosedFW Cook
Y-mAbs Therapeutics85.6%not disclosedNoAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Arcutis Biotherapeutics, Inc. in fiscal 2025?
As disclosed, Todd Franklin Watanabe (President and Chief Executive Officer) was the highest-paid executive at Arcutis Biotherapeutics, Inc. in fiscal 2025, with total compensation of $7,223,065.
How does Arcutis Biotherapeutics, Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Todd Franklin Watanabe's total compensation ranked at the 50th percentile of Arcutis Biotherapeutics, Inc.'s disclosed peer group.
What is Arcutis Biotherapeutics, Inc.'s CEO-to-median employee pay ratio?
As disclosed, Arcutis Biotherapeutics, Inc.'s CEO-to-median employee pay ratio was 28:1.
How did shareholders vote on Arcutis Biotherapeutics, Inc.'s executive compensation?
As disclosed, 95.97% of shareholders supported Arcutis Biotherapeutics, Inc.'s executive compensation in the latest say-on-pay vote.
How much does Arcutis Biotherapeutics, Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Arcutis Biotherapeutics, Inc. reported total board compensation of $1,439,570 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Todd Franklin WatanabeDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 7,223,065. Filing ↗machine: r2 · c42 · span 646815–646824
2Section 01, L. Todd EdwardsDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 3,030,337. Filing ↗machine: r10 · c42 · span 663794–663803
3Section 01, Patrick BurnettDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 3,016,508. Filing ↗machine: r7 · c42 · span 656934–656943
4Section 01, Masaru MatsudaDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 2,118,203. Filing ↗machine: r12 · c42 · span 668261–668270
5Section 01, David TopperDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 1,946,733. Filing ↗machine: r15 · c42 · span 674970–674979
6Section 01, Latha VairavanDEF 14A2026-04-210001787306-26-000028Section “Summary Compensation Table” · page 61. As printed: 1,924,780. Filing ↗machine: r5 · c42 · span 653705–653714
7Section 03, Patrick Burnett RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r5 · c8 · span 470122–470128
8Section 03, Patrick Burnett OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r5 · c6 · span 469829–469835
9Section 03, Patrick Burnett OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r6 · c6 · span 471315–471321
10Section 03, Latha Vairavan RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r3 · c8 · span 467397–467403
11Section 03, Latha Vairavan OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r3 · c6 · span 467154–467160
12Section 03, David Topper OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r10 · c6 · span 476567–476573
13Section 03, Latha Vairavan OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r4 · c6 · span 468400–468406
14Section 03, Latha Vairavan RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r4 · c8 · span 468643–468649
15Section 03, Patrick Burnett RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r6 · c8 · span 471608–471614
16Section 03, David Topper RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r10 · c8 · span 476810–476816
17Section 03, Todd Franklin Watanabe OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r2 · c6 · span 465826–465833
18Section 03, Todd Franklin Watanabe RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: t20 · r2 · c8 · span 466152–466159
19Section 03, L. Todd Edwards RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 716530–716537
20Section 03, Masaru Matsuda RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 724872–724879
21Section 03, Masaru Matsuda OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 727065–727072
22Section 03, L. Todd Edwards RSUDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 717870–717877
23Section 03, L. Todd Edwards OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 721245–721252
24Section 03, L. Todd Edwards OPTIONDEF 14A2026-04-210001787306-26-000028Section “Grants of Plan Based Awards Tables” · grants of plan-based awards table. Filing ↗machine: span 719459–719466
25Section 07, pay ratioDEF 14A2026-04-210001787306-26-000028Section “CEO Pay Ratio”. As printed: 28 : 1. Filing ↗
26Section 08, Amit D. MunshiDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 499,243. Filing ↗machine: span 880593–880819
27Section 08, Keith R. LeonardDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 384,956. Filing ↗machine: span 876990–877216
28Section 08, Sue-Jean LinDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 367,456. Filing ↗machine: span 878707–878933
29Section 08, Bhaskar ChaudhuriDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 352,510. Filing ↗machine: span 868179–868431
30Section 08, Neha KrishnamohanDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 352,456. Filing ↗machine: span 875257–875483
31Section 08, Terrie CurranDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 352,456. Filing ↗machine: span 869923–870149
32Section 08, Halley GilbertDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 352,456. Filing ↗machine: span 871642–871868
33Section 08, Patrick J. HeronDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 349,956. Filing ↗machine: span 873535–873761
34Section 08, Howard G. WelgusDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 347,456. Filing ↗machine: span 882320–882546
35Section 08, Todd Franklin WatanabeDEF 14A2026-04-210001787306-26-000028Section “Director Compensation”. As printed: 0. Filing ↗
36Section 02, Howard G. Welgus 2026-05-01Form 42026-05-050001801050-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Patrick Burnett 2026-05-04Form 42026-05-060001741987-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Masaru Matsuda 2026-05-04Form 42026-05-060001798679-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Todd Franklin Watanabe 2026-05-04Form 42026-05-060001801061-26-000003Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Latha Vairavan 2026-05-04Form 42026-05-060002065881-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Masaru Matsuda 2026-05-04Form 42026-05-060001798679-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Latha Vairavan 2026-05-11Form 42026-05-130002065881-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Patrick Burnett 2026-05-11Form 42026-05-130001741987-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Neha Krishnamohan 2026-06-05Form 42026-06-090001628280-26-042039Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Neha Krishnamohan 2026-06-05Form 42026-06-090001628280-26-042039Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Sue-Jean Lin 2026-06-05Form 42026-06-090001628280-26-042045Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Halley Gilbert 2026-06-05Form 42026-06-090001628280-26-042040Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Amit D. Munshi 2026-06-05Form 42026-06-090001628280-26-042041Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Amit D. Munshi 2026-06-05Form 42026-06-090001628280-26-042041Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Terrie Curran 2026-06-05Form 42026-06-090001628280-26-042042Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Keith R. Leonard 2026-06-05Form 42026-06-090001628280-26-042043Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Howard G. Welgus 2026-06-05Form 42026-06-090001628280-26-042044Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Howard G. Welgus 2026-06-05Form 42026-06-090001628280-26-042044Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Patrick J. Heron 2026-06-05Form 42026-06-090001628280-26-042046Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Patrick J. Heron 2026-06-05Form 42026-06-090001628280-26-042046Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Halley Gilbert 2026-06-05Form 42026-06-090001628280-26-042040Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Terrie Curran 2026-06-05Form 42026-06-090001628280-26-042042Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Keith R. Leonard 2026-06-05Form 42026-06-090001628280-26-042043Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Sue-Jean Lin 2026-06-05Form 42026-06-090001628280-26-042045Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Sue-Jean Lin 2026-06-15Form 42026-06-170001628280-26-044083Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Howard G. Welgus 2026-06-15Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Howard G. Welgus 2026-06-17Form 42026-06-170001628280-26-044079Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Christopher Peetz 2026-07-15Form 42026-07-170001628280-26-048655Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Christopher Peetz 2026-07-15Form 42026-07-170001628280-26-048655Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Christopher Peetz 2026-07-15Form 42026-07-170001628280-26-048655Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, Howard G. Welgus 2026-07-15Form 42026-07-170001628280-26-048641Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Masaru Matsuda 2026-08-03Form 42026-08-050001628280-26-053754Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Todd Franklin Watanabe 2026-08-03Form 42026-08-050001628280-26-053753Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Patrick Burnett 2026-08-03Form 42026-08-050001628280-26-053755Insider equity transaction reported since the proxy statement. Filing ↗
82Section 02, Patrick Burnett 2026-08-11Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
83Section 02, Patrick Burnett 2026-08-11Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
84Section 02, Patrick Burnett 2026-08-11Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
85Section 02, Patrick Burnett 2026-08-12Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
86Section 02, Patrick Burnett 2026-08-12Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
87Section 02, Patrick Burnett 2026-08-12Form 42026-08-130001628280-26-056898Insider equity transaction reported since the proxy statement. Filing ↗
88Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
89Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
90Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
91Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
92Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
93Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
94Section 02, Howard G. Welgus 2026-08-17Form 42026-08-190001628280-26-058008Insider equity transaction reported since the proxy statement. Filing ↗
95Section 02, Patrick Burnett 2026-08-19Form 42026-08-210001628280-26-058420Insider equity transaction reported since the proxy statement. Filing ↗
96Section 02, Terrie Curran 2026-08-20Form 42026-08-240001628280-26-058648Insider equity transaction reported since the proxy statement. Filing ↗
97Section 02, Terrie Curran 2026-08-20Form 42026-08-240001628280-26-058648Insider equity transaction reported since the proxy statement. Filing ↗
98Section 02, Terrie Curran 2026-08-20Form 42026-08-240001628280-26-058648Insider equity transaction reported since the proxy statement. Filing ↗
99Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
100Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
101Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
102Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
103Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
104Section 02, Terrie Curran 2026-08-27Form 42026-08-280001628280-26-059444Insider equity transaction reported since the proxy statement. Filing ↗
105Section 02, Masaru Matsuda 2026-09-08Form 42026-09-100001628280-26-061444Insider equity transaction reported since the proxy statement. Filing ↗
106Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
107Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
108Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
109Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
110Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
111Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
112Section 02, Howard G. Welgus 2026-09-15Form 42026-09-170001628280-26-062490Insider equity transaction reported since the proxy statement. Filing ↗
113Section 02, Masaru Matsuda 2026-09-16Form 42026-09-180001628280-26-062732Insider equity transaction reported since the proxy statement. Filing ↗
114Section 06, 2026 voteForm 8-K2026-06-090001628280-26-041883Item 5.07 · say-on-pay result. As reported: 95.97% (votes for as printed: 88,728,269). Filing ↗
115Section 06, 2025 voteForm 8-K2025-06-170001787306-25-000096Item 5.07 · say-on-pay result. As reported: 84.68% (votes for as printed: 74,469,060). Filing ↗
116Section 06, 2024 voteForm 8-K2024-06-180001787306-24-000090Item 5.07 · say-on-pay result. As reported: 68.05% (votes for as printed: 56,906,215). Filing ↗
117Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
118Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
119Section 09b board cost (computed)Computed——Cash 525,000 + equity 914,570 + all other 0 = 1,439,570, summed across the director compensation table rows.machine: formula: Σ = 1,439,570
120BioCryst Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-230001628280-26-026822CEO total compensation as printed in BioCryst Pharmaceuticals's own proxy. As printed: 12,951,082. Filing ↗machine: span 512256–512266
121Protagonist Therapeutics, Section 10b CEO totalDEF 14A2026-04-280001104659-26-050429CEO total compensation as printed in Protagonist Therapeutics's own proxy. As printed: 12,871,506. Filing ↗machine: r1 · c47 · span 613195–613205
122Vericel, Section 10b CEO totalDEF 14A2026-03-190001308179-26-000094CEO total compensation as printed in Vericel's own proxy. As printed: 11,156,368. Filing ↗machine: t258 · r1 · c27 · span 627744–627754
123Mirum Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-230001759425-26-000027CEO total compensation as printed in Mirum Pharmaceuticals's own proxy. As printed: 10,441,224. Filing ↗machine: r2 · c21 · span 580200–580210
124MannKind Corporation, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145613CEO total compensation as printed in MannKind Corporation's own proxy. As printed: 9,300,485. Filing ↗machine: t24 · r5 · c27 · span 606612–606621
125Travere Therapeutics, Section 10b CEO totalDEF 14A2026-04-060001438533-26-000027CEO total compensation as printed in Travere Therapeutics's own proxy. As printed: 8,457,151. Filing ↗machine: span 558514–558523
126Dynavax Technologies, Section 10b CEO totalDEF 14A2025-04-170000930413-25-001273CEO total compensation as printed in Dynavax Technologies's own proxy. As printed: 8,210,775. Filing ↗
127Ardelyx, Section 10b CEO totalDEF 14A2026-04-290001140361-26-017800CEO total compensation as printed in Ardelyx's own proxy. As printed: 7,796,171. Filing ↗machine: r2 · c25 · span 677112–677121
128Arcutis Biotherapeutics, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-210001787306-26-000028CEO total compensation as printed in Arcutis Biotherapeutics, Inc.'s own proxy. As printed: 7,223,065. Filing ↗machine: r2 · c42 · span 646815–646824
129Sage Therapeutics, Section 10b CEO totalDEF 14A2025-04-240000950170-25-058060CEO total compensation as printed in Sage Therapeutics's own proxy. As printed: 7,112,589. Filing ↗machine: r4 · c28 · span 1143784–1143793
130Phathom Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-070001193125-26-144570CEO total compensation as printed in Phathom Pharmaceuticals's own proxy. As printed: 6,968,070. Filing ↗machine: r2 · c21 · span 619155–619164
131Tarsus Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-280001819790-26-000028CEO total compensation as printed in Tarsus Pharmaceuticals's own proxy. As printed: 6,617,979. Filing ↗machine: span 448592–448601
132Evolus, Section 10b CEO totalDEF 14A2026-04-290001570562-26-000059CEO total compensation as printed in Evolus's own proxy. As printed: 6,412,214. Filing ↗machine: span 499358–499367
133AnaptysBio, Section 10b CEO totalDEF 14A2026-06-290001193125-26-288408CEO total compensation as printed in AnaptysBio's own proxy. As printed: 6,133,943. Filing ↗machine: span 694406–694415
134Agios Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-240001193125-26-177086CEO total compensation as printed in Agios Pharmaceuticals's own proxy. As printed: 5,370,389. Filing ↗machine: r2 · c31 · span 613185–613194
135Y-mAbs Therapeutics, Section 10b CEO totalDEF 14A2025-05-300001558370-25-008299CEO total compensation as printed in Y-mAbs Therapeutics's own proxy. As printed: 4,557,590. Filing ↗machine: r5 · c23 · span 597595–597604
136Vanda Pharmaceuticals, Section 10b CEO totalDEF 14A2026-04-230001628280-26-026893CEO total compensation as printed in Vanda Pharmaceuticals's own proxy. As printed: 3,851,468. Filing ↗machine: span 563696–563705
137Section 10a, Travere Therapeutics reciprocityDEF 14A—0001438533-26-000027Travere Therapeutics's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
138Section 10a, Agios Pharmaceuticals reciprocityDEF 14A—0001193125-26-177086Agios Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
139Section 10a, AnaptysBio reciprocityDEF 14A—0001193125-26-288408AnaptysBio's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
140Section 10a, MannKind Corporation reciprocityDEF 14A—0001193125-26-145613MannKind Corporation's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
141Section 10a, Vericel reciprocityDEF 14A—0001308179-26-000094Vericel's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
142Section 10a, Y-mAbs Therapeutics reciprocityDEF 14A—0001558370-25-008299Y-mAbs Therapeutics's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
143Section 10a, Ardelyx reciprocityDEF 14A—0001140361-26-017800Ardelyx names Arcutis Biotherapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
144Section 10a, BioCryst Pharmaceuticals reciprocityDEF 14A—0001628280-26-026822BioCryst Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
145Section 10a, Dynavax Technologies reciprocityDEF 14A—0000930413-25-001273Dynavax Technologies's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
146Section 10a, Evolus reciprocityDEF 14A—0001570562-26-000059Evolus names Arcutis Biotherapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
147Section 10a, Mirum Pharmaceuticals reciprocityDEF 14A—0001759425-26-000027Mirum Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
148Section 10a, Protagonist Therapeutics reciprocityDEF 14A—0001104659-26-050429Protagonist Therapeutics's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
149Section 10a, Sage Therapeutics reciprocityDEF 14A—0000950170-25-058060Sage Therapeutics's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗
150Section 10a, Tarsus Pharmaceuticals reciprocityDEF 14A—0001819790-26-000028Tarsus Pharmaceuticals names Arcutis Biotherapeutics, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
151Section 10a, Vanda Pharmaceuticals reciprocityDEF 14A—0001628280-26-026893Vanda Pharmaceuticals's most recent proxy was read; its disclosed peer group does not include Arcutis Biotherapeutics, Inc.. Filing ↗

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