Masaru Matsuda - 18 Nov 2023 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: Senior Vice President and General Counsel
Signature
/s/ John W. Smither, as Attorney-in-Fact for Masaru Matsuda
Issuer symbol
ARQT
Transactions as of
18 Nov 2023
Net transactions value
-$3,661
Form type
4
Filing time
21 Nov 2023, 17:47:43 UTC
Previous filing
02 Jun 2023
Next filing
17 Jan 2024
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 +11% $0.000000 48,484 18 Nov 2023 Direct F1
transaction ARQT Common Stock Sale $3,661 -1,850 -3.8% $1.98 46,634 21 Nov 2023 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 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 tax withholdings.
F3 The transaction was executed in multiple trade in prices ranging from $1.965 to $1.98, inclusive. The price reported in Column 4 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.

Remarks:

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