ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2021

Feb 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROWHEAD PHARMACEUTICALS, INC. (ARWR)
CIK: 0000879407
Period of Report: 2021-02-08

Reporting Person: O'Brien Patrick (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-08	Common Stock	M	90000	$5.22	Acquired	383375	Direct
2021-02-08	Common Stock	S	7961	$86.72	Disposed	375414	Direct
2021-02-08	Common Stock	S	31255	$88.08	Disposed	344159	Direct
2021-02-08	Common Stock	S	45348	$88.88	Disposed	298811	Direct
2021-02-08	Common Stock	S	5436	$89.66	Disposed	293375	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-08	Stock Option (right to buy)	$5.22	M	90000	Disposed	2024-12-02	Common Stock (90000)	Direct

Footnotes

F1: The price reported on Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.26 to
$87.11, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead
Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares
sold at each separate price within the ranges set forth in this footnote of this Form 4.

F2: The price reported on Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.43 to
$88.42, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead
Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares
sold at each separate price within the ranges set forth in this footnote of this Form 4.

F3: The price reported on Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.44 to
$89.41, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead
Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares
sold at each separate price within the ranges set forth in this footnote of this Form 4.

F4: The price reported on Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.45 to
$89.85, inclusive. The reporting person undertakes to provide to Arrowhead Pharmaceuticals, Inc., any security holder of Arrowhead
Pharmaceuticals, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares
sold at each separate price within the ranges set forth in this footnote of this Form 4.

F5: Represents the first vesting date. Option vested over four years from date of grant.