ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2023

May 6, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROWHEAD PHARMACEUTICALS, INC. (ARWR)
CIK: 0000879407
Period of Report: 2023-05-03

Reporting Person: Anzalone Christopher Richard (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-03	Common Stock	M	54928	$2.01	Acquired	3816266	Direct
2023-05-03	Common Stock	S	54928	$39.14	Disposed	3761338	Direct
2023-05-04	Common Stock	M	50000	$2.01	Acquired	3811338	Direct
2023-05-04	Common Stock	S	24008	$38.97	Disposed	3787330	Direct
2023-05-04	Common Stock	S	25992	$40.02	Disposed	3761338	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-03	Stock Option (right to buy)	$2.01	M	54928	Disposed	2023-05-06	Common Stock (54928.0)	Direct
2023-05-04	Stock Option (right to buy)	$2.01	M	50000	Disposed	2023-05-06	Common Stock (50000.0)	Direct

Footnotes

F1: Acquired through exercise of options expiring 5/6/23. See Table II.

F2: The price reported on Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.84 to $39.56, 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 $38.47 to $39.47, 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 $39.48 to $40.46, 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 first vesting date. Option vested over four years from date of grant.

F6: Represents total stock options beneficially owned at various strike prices.