Patrick Burnett - May 2, 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Signature
/s/ David Topper, as Attorney-in-Fact for Patrick Burnett
Stock symbol
ARQT
Transactions as of
May 2, 2024
Transactions value $
-$83,490
Form type
4
Date filed
5/3/2024, 04:22 PM
Previous filing
Mar 6, 2024
Next filing
May 31, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Sale -$83.5K -9.56K -3.55% $8.74 260K May 2, 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 obligation in connection with the vesting of Restricted Stock Units.
F2 The transaction was executed in multiple trades in prices ranging from $8.47 to $9.07, 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 and Chief Medical Officer