Howard G. Welgus - Feb 15, 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
Feb 15, 2023
Transactions value $
-$130,067
Form type
4
Date filed
2/21/2023, 06:20 AM
Previous filing
Jan 18, 2023
Next filing
Apr 10, 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 Feb 15, 2023 Direct F1
transaction ARQT Common Stock Sale -$144K -8.5K -4.88% $16.98 166K Feb 15, 2023 Direct F1, F2
holding ARQT Common Stock 25K Feb 15, 2023 By Trust 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) Options Exercise $0 -8.5K -26.6% $0.00 23.5K Feb 15, 2023 Common Stock 8.5K $1.68 Direct F1, F4
* 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 price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $16.84 to $17.10, inclusive. 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 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.
F4 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.