Patrick Burnett - Mar 4, 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Signature
/s/ John W. Smither, as Attorney-in-Fact for Patrick Burnett
Stock symbol
ARQT
Transactions as of
Mar 4, 2024
Transactions value $
-$53,182
Form type
4
Date filed
3/6/2024, 05:12 PM
Previous filing
Feb 15, 2024
Next filing
May 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Sale -$53.2K -4.78K -1.74% $11.12 269K Mar 4, 2024 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sale was effected pursuant to the Reporting Person's Rule 10b5-1 trading plan to satisfy tax withholding obligations in connection with the vesting of Restricted Stock Units.
F2 The transaction was executed in multiple trades in prices ranging from $11.000 to $11.3200, 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.

Remarks:

Reporting Person's title: Senior Vice President, Chief Medical Officer