Masaru Matsuda - Jan 3, 2022 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role: SVP and General Counsel
Signature: /s/ Scott Burrows, as Attorney-in-Fact for Matsuda Masaru
Stock symbol: ARQT
Transactions as of: Jan 3, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/5/2022, 06:43 PM
Previous filing: Sep 7, 2021
Next filing: Mar 7, 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	+185K		$0.00	185K	Jan 3, 2022	Common Stock	185K	$22.79	Direct	F1

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

Explanation of Responses:

Id	Content
F1	25% of the shares subject to the option vest on the one year anniversary measured from January 3, 2022 (the "Vesting Commencement Date"), and 1/48th of the shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.

Content

25% of the shares subject to the option vest on the one year anniversary measured from January 3, 2022 (the "Vesting Commencement Date"), and 1/48th of the shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.