Howard G. Welgus - Jun 1, 2022 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Director
Signature
/s/ Scott Burrows, as Attorney-in-Fact for Howard G. Welgus
Stock symbol
ARQT
Transactions as of
Jun 1, 2022
Transactions value $
-$47,337
Form type
4
Date filed
6/2/2022, 04:48 PM
Previous filing
May 3, 2022
Next filing
Jul 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Options Exercise $4.2K +2.5K +1.37% $1.68* 184K Jun 1, 2022 Direct F1, F2
transaction ARQT Common Stock Sale -$51.5K -2.5K -1.36% $20.62 182K Jun 1, 2022 Direct F1, F2, F3
holding ARQT Common Stock 25K Jun 1, 2022 By Trust F4

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 -2.5K -5.68% $0.00 41.5K Jun 1, 2022 Common Stock 2.5K $1.68 Direct F5
* 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 4,500 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 $20.285 to $20.92, 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 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.
F5 The option began vesting on March 13, 2019 and will vest monthly over a four year period, 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.