Masaru Matsuda - 27 May 2023 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, as Attorney-in-Fact for Masaru Matsuda
Issuer symbol
ARQT
Transactions as of
27 May 2023
Net transactions value
-$4,944
Form type
4
Filing time
02 Jun 2023, 20:31:18 UTC
Previous filing
06 Mar 2023
Next filing
21 Nov 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 +12% $0.000000 43,976 27 May 2023 Direct F1
transaction ARQT Common Stock Sale $14,278 -1,830 -4.2% $7.80 42,146 31 May 2023 Direct F2, F3
transaction ARQT Common Stock Award $9,334 +1,463 +3.5% $6.38 43,609 31 May 2023 Direct F4
* 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 May 27, 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 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.
F3 The transaction was executed in multiple trades in prices ranging from $7.79 to $7.86, 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.
F4 Shares acquired pursuant to the Issuer's Employee Stock Purchase Plan.

Remarks:

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