Matthew Richard Moore - May 1, 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
SVP and Chief Business Officer
Signature
/s/ David Topper, Attorney-in-Fact for Matthew Richard Moore
Stock symbol
ARQT
Transactions as of
May 1, 2024
Transactions value $
-$40,902
Form type
4
Date filed
5/3/2024, 04:29 PM
Previous filing
Mar 6, 2024
Next filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +4.17K +2.85% $0.00 150K May 1, 2024 Direct F1, F2
transaction ARQT Common Stock Sale -$40.9K -4.68K -3.12% $8.74 146K May 2, 2024 Direct F3, F4
* 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 Represents Restricted Stock Units ("RSUs"), initial grant on February 22, 2024, that were subject to a performance-based vesting condition, that was determined to be satisfied on the Vesting Commencement Date, May 1, 2024.
F2 The RSUs will vest in twelve equal quarterly installments on the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer on each vesting date.
F3 Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the RSUs, the shares were sold upon the vesting of the RSUs solely to cover applicable tax withholding.
F4 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.