Matthew Richard Moore - 02 Mar 2023 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: Senior Vice President and Chief Business Officer
Signature
/s/ Scott Burrows, as Attorney-in-Fact for Matthew Richard Moore
Issuer symbol
ARQT
Transactions as of
02 Mar 2023
Net transactions value
-$25,481
Form type
4
Filing time
06 Mar 2023, 17:54:26 UTC
Previous filing
07 Mar 2022
Next filing
12 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Sale $25,134 -1,589 -12% $15.82 11,711 02 Mar 2023 Direct F1, F2
transaction ARQT Common Stock Sale $347 -21 -0.18% $16.52 11,690 02 Mar 2023 Direct F1
transaction ARQT Common Stock Award $0 +14,900 +127% $0.000000 26,590 02 Mar 2023 Direct F3

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 +39,500 $0.000000 39,500 02 Mar 2023 Common Stock 39,500 $15.82 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 The transaction was executed in multiple trades in prices ranging from $15.470 to $16.460, 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.
F3 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 2 of each year, beginning March 2, 2024, subject to the Reporting Person's continued service to the Issuer.
F4 1/48th of the shares subject to the option vest on each monthly anniversary measured from March 2, 2023 (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.

Remarks:

Reporting Person's title: Senior Vice President and Chief Business Officer