John W. Smither - 13 Feb 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Chief Financial Officer
Signature
/s/ John W. Smither
Issuer symbol
ARQT
Transactions as of
13 Feb 2024
Net transactions value
$0
Form type
4
Filing time
15 Feb 2024, 18:23:45 UTC
Previous filing
03 Jan 2024
Next filing
07 Jun 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 +2,793 2,793 13 Feb 2024 Direct F1
transaction ARQT Common Stock Award +8,572 +307% 11,365 13 Feb 2024 Direct F2
holding ARQT Common Stock 141,392 13 Feb 2024 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) Disposed to Issuer -8,379 -100% 0 13 Feb 2024 Common Stock 8,379 $27.61 Direct F1, F4
transaction ARQT Stock Option (right to buy) Disposed to Issuer -25,718 -100% 0 13 Feb 2024 Common Stock 25,718 $32.44 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on February 27, 2020, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in four equal quarterly installments commencing May 1, 2024.
F2 On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2021, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024.
F3 The securities are held of record by The 1994 Smither Family Trust, as Amended and Restated in 2014, of which the Reporting Person is a 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 This option is fully vested.
F5 This option is fully vested.