Kenneth A. Lock - Mar 2, 2023 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Chief Commercial Officer
Signature
/s/ Scott Burrows, as Attorney-in-Fact for Kenneth A. Lock
Stock symbol
ARQT
Transactions as of
Mar 2, 2023
Transactions value $
$0
Form type
4
Date filed
3/6/2023, 05:57 PM
Previous filing
Mar 2, 2023
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +21K +48.54% $0.00 64.3K Mar 2, 2023 Direct F1

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 +55.8K $0.00 55.8K Mar 2, 2023 Common Stock 55.8K $15.82 Direct F2
* 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 2 of each year, beginning March 2, 2024, subject to the Reporting Person's continued service to the Issuer.
F2 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..