Howard G. Welgus - Jul 1, 2021 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Director
Signature
/s/ Howard G. Welgus
Stock symbol
ARQT
Transactions as of
Jul 1, 2021
Transactions value $
-$48,802
Form type
4
Date filed
7/6/2021, 07:14 PM
Previous filing
Jun 11, 2021
Next filing
Sep 3, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Options Exercise $657 +391 +0.21% $1.68* 182K Jul 1, 2021 Direct F1, F2
transaction ARQT Common Stock Options Exercise $1.31K +781 +0.43% $1.68* 183K Jul 1, 2021 Direct F1, F2
transaction ARQT Common Stock Options Exercise $6.7K +1.03K +0.56% $6.52 184K Jul 1, 2021 Direct F1, F2
transaction ARQT Common Stock Sale -$50.8K -1.95K -1.06% $26.03 182K Jul 1, 2021 Direct F1, F2, F3
transaction ARQT Common Stock Sale -$6.72K -250 -0.14% $26.87 182K Jul 1, 2021 Direct F1, F2, F4
holding ARQT Common Stock 25K Jul 1, 2021 By Trust F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARQT Stock Option (Right to Buy) Options Exercise $0 -391 -3.45% $0.00 10.9K Jul 1, 2021 Common Stock 391 $1.68 Direct F6
transaction ARQT Stock Option (Right to Buy) Options Exercise $0 -781 -3.23% $0.00 23.4K Jul 1, 2021 Common Stock 781 $1.68 Direct F6
transaction ARQT Stock Option (Right to Buy) Options Exercise $0 -1.03K -9.44% $0.00 9.86K Jul 1, 2021 Common Stock 1.03K $6.52 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person.
F2 Includes 6,750 Restricted Stock Units ("RSUs"). The Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof.
F3 The transaction was executed in multiple trades in prices ranging from $25.70 to $26.50, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F4 The transaction was executed in multiple trades in prices ranging from $26.76 to $27.17, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F5 The securities are held of record by The Welgus Living Trust, of which the Reporting Person is trustee. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes.
F6 The option began vesting monthly over a four year period beginning upon the achievement of certain company milestones, subject to the Reporting Person's continuous provision of services to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.
F7 The option vests monthly over a four year period beginning November 20, 2019, subject to the Reporting Person's continuous provision of services to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.