Patrick Burnett - 29 May 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: SVP Chief Medical Officer
Signature
/s/ David Topper, as Attorney-in-Fact for Patrick Burnett
Issuer symbol
ARQT
Transactions as of
29 May 2024
Net transactions value
-$636,706
Form type
4
Filing time
31 May 2024, 16:50:40 UTC
Previous filing
03 May 2024
Next filing
05 Aug 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 Sale $435,387 -49,952 -19% $8.72 209,793 29 May 2024 Direct F1
transaction ARQT Common Stock Options Exercise $0 +23,000 +11% $0.000000 232,793 30 May 2024 Direct
transaction ARQT Common Stock Sale $201,319 -23,000 -9.9% $8.75 209,793 30 May 2024 Direct F2

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) Options Exercise $0 -23,000 -8.3% $0.000000 253,000 30 May 2024 Common Stock 23,000 $3.64 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction was executed in multiple trades in prices ranging from $8.50 to $8.85, 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.
F2 The transaction was executed in multiple trades in prices ranging from $8.70 to $8.88, 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.
F3 On January 12, 2024, the Reporting Person was granted options, in which 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 anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.

Remarks:

Reporting Person's title: SVP Chief Medical Officer