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Filing Details

Accession Number:: 0001567619-21-013033
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-07-06 19:14:41
Reporting Period:: 2021-07-01

Accepted Time:: 2021-07-06 19:14:41
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1787306	Arcutis Biotherapeutics Inc.	ARQT	Pharmaceutical Preparations (2834)	812974255

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1801050	G. Howard Welgus	C/O Arcutis Biotherapeutics, Inc. 3027 Townsgate Road, Suite 300 Westlake Village CA 91361		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2021-07-01	391	$1.68	182,287	No	4	M	Direct
Common Stock	Acquisiton	2021-07-01	781	$1.68	183,068	No	4	M	Direct
Common Stock	Acquisiton	2021-07-01	1,028	$6.52	184,096	No	4	M	Direct
Common Stock	Disposition	2021-07-01	1,950	$26.03	182,146	No	4	S	Direct
Common Stock	Disposition	2021-07-01	250	$26.87	181,896	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2021-07-01	391	$0.00	391	$1.68
Common Stock	Stock Option (Right to Buy)	Disposition	2021-07-01	781	$0.00	781	$1.68
Common Stock	Stock Option (Right to Buy)	Disposition	2021-07-01	1,028	$0.00	1,028	$6.52

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
10,933	2029-03-13	No	4	M	Direct
23,428	2029-03-13	No	4	M	Direct
9,862	2029-11-20	No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	24,991	Indirect	By Trust

Footnotes

Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person.
Includes 6,750 Restricted Stock Units ("RSUs"). The Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof.
The transaction was executed in multiple trades in prices ranging from $25.70 to $26.50, 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.
The transaction was executed in multiple trades in prices ranging from $26.76 to $27.17, 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.
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.
The option began vesting monthly over a four year period beginning upon the achievement of certain company milestones, subject to the Reporting Person's continuous provision of services to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.
The option vests monthly over a four year period beginning November 20, 2019, subject to the Reporting Person's continuous provision of services to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.