Masaru Matsuda - 12 Jan 2024 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
12 Jan 2024
Net transactions value
$0
Form type
4
Filing time
17 Jan 2024, 16:32:50 UTC
Previous filing
21 Nov 2023
Next filing
15 Feb 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 +28,000 +60% $0.000000 74,634 12 Jan 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 +176,000 $0.000000 176,000 12 Jan 2024 Common Stock 176,000 $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 annual 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 anniverary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.

Remarks:

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