Scott L. Burrows - 30 Dec 2021 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role: Chief Financial Officer
Signature: /s/ Scott L. Burrows
Issuer symbol: ARQT
Transactions as of: 30 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 04 Jan 2022, 20:05:03 UTC
Previous filing: 28 Dec 2021
Next filing: 03 Mar 2022
SEC: View on sec.gov

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)	Award	$0	+55,704		$0.000000	55,704	30 Dec 2021	Common Stock	55,704	$20.59	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On August 24, 2021, the Reporting Person was granted the option subject to a milestone condition. The Compensation Committee of the Issuer certified the achievement of the milestone and commencement of vesting on December 30, 2021 (the "Milestone Vesting Commencement Date"). 1/48th of the shares subject to the option shall vest on each monthly anniversary of the Milestone Vesting Commencement Date, such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Milestone Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.

Content

On August 24, 2021, the Reporting Person was granted the option subject to a milestone condition. The Compensation Committee of the Issuer certified the achievement of the milestone and commencement of vesting on December 30, 2021 (the "Milestone Vesting Commencement Date"). 1/48th of the shares subject to the option shall vest on each monthly anniversary of the Milestone Vesting Commencement Date, such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Milestone Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.