ARROWHEAD PHARMACEUTICALS, INC. — Director's Dealing 2025

Dec 16, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-12	Common Stock	A	180000	—	Acquired	4101255	Direct
2025-12-15	Common Stock	S	100532	$68.67	Disposed	4000723	Direct
2025-12-15	Common Stock	S	21321	$69.28	Disposed	3979402	Direct
2025-12-15	Common Stock	S	8147	$69.96	Disposed	3971255	Direct
2025-12-16	Common Stock	S	8416	$60.51	Disposed	3962839	Direct
2025-12-16	Common Stock	S	10963	$61.25	Disposed	3951876	Direct
2025-12-16	Common Stock	S	14095	$62.12	Disposed	3937781	Direct
2025-12-16	Common Stock	S	8476	$62.94	Disposed	3929305	Direct
2025-12-16	Common Stock	S	6661	$64.29	Disposed	3922644	Direct
2025-12-16	Common Stock	S	1000	$64.96	Disposed	3921644	Direct
2025-12-16	Common Stock	S	1300	$65.77	Disposed	3920344	Direct
2025-12-16	Common Stock	S	166	$66.77	Disposed	3920178	Direct
2025-12-16	Common Stock	S	3221	$67.87	Disposed	3916957	Direct

Footnotes

F1: Represents shares underlying restricted stock units with a grant date December 12, 2025, which will vest in four equal annual installments.

F2: 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.

F3: Shares sold exclusively to cover anticipated taxes on a performance awards that vested December 12, 2025. These performance awards were previously reported on 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 $68.28 to $69.00, 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: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.01 to $69.75, 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.

F6: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $69.83 to $70.32, 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.

F7: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $59.73 to $60.70, 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.

F8: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $60.79 to $61.68, 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.

F9: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $61.72 to $62.60, 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.

F10: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $62.62 to $63.50, 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.

F11: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $63.56 to $64.45, 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.

F12: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $64.81 to $65.06, 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.

F13: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $65.63 to $65.96, 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.

F14: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $66.70 to $66.88, 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.

F15: The price reported on Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $67.70 to $68.05, 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.