Masaru Matsuda - 18 Nov 2022 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role: Reporting person's title: Senior Vice President and General Counsel
Signature: /s/ Scott L. Burrows, Attorney-in-fact for Matsuda Masaru
Issuer symbol: ARQT
Transactions as of: 18 Nov 2022
Net transactions value: -$31,289
Form type: 4
Filing time: 22 Nov 2022, 18:06:14 UTC
Previous filing: 02 Jun 2022
Next filing: 06 Mar 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	Award	$0	+4,875	+30%	$0.000000	21,255	18 Nov 2022	Direct	F1, F2
transaction	ARQT	Common Stock	Sale	$31,289	-1,720	-8.1%	$18.19	19,535	21 Nov 2022	Direct	F2, F3

* 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 November 18, 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 Restricted Stock Units ("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.

Remarks:

Reporting person's title: Senior Vice President and General Counsel