Howard G. Welgus - Jan 17, 2023 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
Jan 17, 2023
Transactions value $
-$102,375
Form type
4
Date filed
1/18/2023, 07:18 PM
Previous filing
Nov 17, 2022
Next filing
Feb 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Options Exercise $14.3K +8.5K +5.13% $1.68* 174K Jan 17, 2023 Direct F1
transaction ARQT Common Stock Sale -$117K -8.5K -4.88% $13.72 166K Jan 17, 2023 Direct F1
holding ARQT Common Stock 25K Jan 17, 2023 By Trust F2

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 -8.5K -21.01% $0.00 32K Jan 17, 2023 Common Stock 8.5K $1.68 Direct F1, F3
* 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 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.
F3 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.