Howard G. Welgus - Aug 1, 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Director
Signature
/s/ David Topper, as Attorney-in-Fact for Howard G. Welgus
Stock symbol
ARQT
Transactions as of
Aug 1, 2024
Transactions value $
-$87,581
Form type
4
Date filed
8/5/2024, 04:37 PM
Previous filing
Jul 2, 2024
Next filing
Sep 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Options Exercise $11.1K +6.61K +3.67% $1.68 187K Aug 1, 2024 Direct F1
transaction ARQT Common Stock Sale -$65.3K -6.61K -3.54% $9.87 180K Aug 1, 2024 Direct F1, F2
transaction ARQT Common Stock Sale -$33.4K -3.39K -1.88% $9.87 177K Aug 1, 2024 Direct F1, F2
holding ARQT Common Stock 25K Aug 1, 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) Options Exercise $0 -6.61K -100% $0.00* 0 Aug 1, 2024 Common Stock 6.61K $1.68 Direct F1, 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 The transaction reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person.
F2 The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $9.76 to $10.08, inclusive. 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 The securities are held of record by The Welgus Living Trust, of which the Reporting Person is 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.