Patrick Burnett - 14 Nov 2024 Form 4 Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: Senior Vice President Chief Medical Officer
Signature
/s/ David Topper, as Attorney-in-Fact for Patrick Burnett
Issuer symbol
ARQT
Transactions as of
14 Nov 2024
Net transactions value
-$712,621
Form type
4
Filing time
18 Nov 2024, 19:04:23 UTC
Previous filing
05 Nov 2024
Next filing
26 Nov 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 $522,436 -50,749 -28% $10.29 128,669 14 Nov 2024 Direct F1
transaction ARQT Common Stock Options Exercise $0 +18,377 +14% $0.000000 147,046 14 Nov 2024 Direct
transaction ARQT Common Stock Sale $189,182 -18,377 -12% $10.29 128,669 14 Nov 2024 Direct F1
transaction ARQT Common Stock Options Exercise $0 +100 +0.08% $0.000000 128,769 15 Nov 2024 Direct
transaction ARQT Common Stock Sale $1,003 -100 -0.08% $10.03 128,669 15 Nov 2024 Direct

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 -18,377 -7.3% $0.000000 234,623 14 Nov 2024 Common Stock 18,377 $3.64 Direct F2
transaction ARQT Stock Option (right to buy) Options Exercise $0 -100 -0.04% $0.000000 234,523 15 Nov 2024 Common Stock 100 $3.64 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $10.4926 to $10.00, 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.
F2 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: Senior Vice President Chief Medical Officer