Todd Franklin Watanabe - Jan 12, 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: Chief Executive Officer and President, Director
Signature
/s/ John W. Smither as Attorney-in-Fact for Todd Franklin Watanabe
Stock symbol
ARQT
Transactions as of
Jan 12, 2024
Transactions value $
$0
Form type
4
Date filed
1/17/2024, 04:30 PM
Previous filing
Dec 22, 2023
Next filing
Feb 15, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +125K +24.9% $0.00 627K Jan 12, 2024 Direct F1

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) Award $0 +410K $0.00 410K Jan 12, 2024 Common Stock 410K $3.64 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Constitute Restricted Stock Units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting. 25% of the RSUs vest annually on February 1, (the "Vesting Commencement Date"), of each year, beginning on February 1, 2025, subject to the Reporting Person's continued service to the Issuer.
F2 1/48th of the shares subject to the option vest on each monthly anniversary measured from January 12, 2024 (the "Vesting Commencement Date"), such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.

Remarks:

Reporting Person's title: Chief Executive Officer and President