Masaru Matsuda - May 27, 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
May 27, 2022
Transactions value $
-$35,419
Form type
4
Date filed
6/2/2022, 04:48 PM
Previous filing
Mar 7, 2022
Next filing
Nov 22, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +4.88K +36.65% $0.00 18.2K May 27, 2022 Direct F1, F2
transaction ARQT Common Stock Sale -$35.4K -1.8K -9.88% $19.73 16.4K Jun 2, 2022 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents performance stock units ("PSUs") initially granted on January 3, 2022 that were subject to a performance-based vesting condition. The vesting condition was determined to be satisfied on May 27, 2022. The PSUs will vest fully on May 27, 2025, subject to the Reporting Person's continued service to the Issuer on such vesting date.
F2 Includes 13,300 RSUs.
F3 Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the PSUs, the shares were sold upon the vesting of the PSUs solely to cover applicable withholding taxes.
F4 The transaction was executed in multiple trades in prices ranging from $19.7201 to $19.75, 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.