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

Role
Chief Financial Officer
Signature
/s/ Scott L. Burrows
Stock symbol
ARQT
Transactions as of
Dec 30, 2021
Transactions value $
$0
Form type
4
Date filed
1/4/2022, 08:05 PM
Previous filing
Dec 28, 2021
Next filing
Mar 3, 2022

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 +55.7K $0.00 55.7K Dec 30, 2021 Common Stock 55.7K $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.