Todd Franklin Watanabe - 02 Mar 2023 Form 4/A - Amendment Insider Report for Arcutis Biotherapeutics, Inc. (ARQT)

Role
Reporting Person's title: Chief Executive Officer and President, Director
Signature
/s/ Scott Burrows, Attorney-in-Fact for Todd Franklin Watanabe
Issuer symbol
ARQT
Transactions as of
02 Mar 2023
Transactions value $
$0
Form type
4/A - Amendment
Filing time
31 Mar 2023, 21:54:29 UTC
Date Of Original Report
28 Feb 2023
Previous filing
02 Mar 2023
Next filing
08 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARQT Common Stock Award $0 +87.5K +23.71% $0.00 457K 02 Mar 2023 Direct F1, 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) Award $0 +232K $0.00 232K 02 Mar 2023 Common Stock 232K $15.82 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Constitute Restricted Stock Units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting, 25% of the RSUs vest annually on March 2 of each year, beginning on March 2, 2024, subject to the Reporting Person's continued service to the Issuer.
F2 Reflects amount of securities beneficially owned as of March 2, 2023.
F3 Amendment filed to add RSUs and Stock Options granted to Reporting Person on March 2, 2023. 1/48th of the shares subject to the option vest on each monthly anniversary measured from March 2, 2023 (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: Chief Executive Officer and President