ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2025

Dec 30, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROWHEAD PHARMACEUTICALS, INC. (ARWR)
CIK: 0000879407
Period of Report: 2025-12-29

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-29	Common Stock	M	35181	$6.15	Acquired	3841107	Direct
2025-12-29	Common Stock	M	16545	$6.15	Acquired	3857652	Direct
2025-12-29	Common Stock	S	35181	$69.33	Disposed	3822471	Direct
2025-12-29	Common Stock	S	16545	$68.69	Disposed	3805926	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-29	Stock Option (right to buy Common Stock)	$6.15	M	35181	Disposed	2026-01-01	Common Stock (35181)	Direct
2025-12-29	Stock Option (right to buy Common Stock)	$6.15	M	16545	Disposed	2026-01-01	Common Stock (16545)	Direct

Footnotes

F1: Includes previously reported shares of common stock underlying Restricted Stock Units granted to the Reporting person, a portion of which are still subject to certain vesting conditions.

F2: The exercise of non-qualified stock options and sale was made as the stock options were approaching their expiration date. The shares were sold pursuant to a 10b5-1 trading plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.

F3: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.09 to $69.62, 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 the weighted average price. These shares were sold in multiple transactions at prices ranging from $68.10 to $69.08, 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: All options were fully vested and exercisable as of January 1, 2016.