Patricia A. Turney - Mar 3, 2022 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
SVP, Operations
Signature
/s/ Scott Burrows, as Attorney-in-Fact for Patricia A. Turney
Stock symbol
ARQT
Transactions as of
Mar 3, 2022
Transactions value $
-$17,234
Form type
4
Date filed
3/7/2022, 07:48 PM
Previous filing
Mar 3, 2022
Next filing
Mar 30, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +13.3K +70.61% $0.00 32.1K Mar 3, 2022 Direct F1
transaction ARQT Common Stock Sale -$16.7K -993 -3.09% $16.86 31.1K Mar 4, 2022 Direct F2, F3
transaction ARQT Common Stock Sale -$493 -30 -0.1% $16.44 31.1K Mar 7, 2022 Direct F2, F4, 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) Award $0 +35.3K $0.00 35.3K Mar 3, 2022 Common Stock 35.3K $17.67 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Constitute restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting. 25% of the RSUs vest annually on March 3 of each year, beginning March 3, 2023, subject to the Reporting Person's continued service to the Issuer.
F2 The sale was effected pursuant to the Reporting Person's Rule 10b5-1 trading plan to satisfy tax withholding obligations in connection with the vesting of Restricted Stock Units ("RSUs").
F3 The transaction was executed in multiple trades in prices ranging from $16.63 to $17.19, 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 $16.44 to $16.45, 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 Includes 24,925 RSUs.
F6 1/48th of the shares subject to the option vest on each monthly anniversary measured from March 3, 2022 (the "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 Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.