Form 4 for ARQT Arcutis Biotherapeutics, Inc.
Accepted 2024-02-15 00:00:00 ET · period of report 2024-02-13 · accession 0001787306-24-000020 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2024-02-15 | 2024-02-13 | ARQT | Burnett Patrick | See Remarks | A - Grant | — | +189.1K | 246.2K | +331% | — |
| DM | 2024-02-15 | 2024-02-13 | ARQT | Burnett Patrick | See Remarks | D - Sale to Iss | — | -451.7K | 0 | -100% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-02-13 | A | A | 27,900 | — | 274,082 | D | — | — | (F4) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 2, 2023, and received in exchange for the option, these RSUs that vest in twelve equal quarterly installments commencing May 1, 2024. |
| 2 | Common | Common Stock | 2024-02-13 | A | A | 9,600 | — | 222,632 | D | — | — | (F2) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2021, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024 |
| 3 | Common | Common Stock | 2024-02-13 | A | A | 128,000 | — | 213,032 | D | — | — | (F1) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on August 3, 2020, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in four equal quarterly installments commencing May 1, 2024. |
| 4 | Common | Common Stock | 2024-02-13 | A | A | 23,550 | — | 246,182 | D | — | — | (F3) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2022, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024. |
| 5 | Derivative | Stock Option (right to buy) | 2024-02-13 | D | D | 55,800 | — | 0 | D | $15.82 · — to 2033-03-02 | 55,800 Common Stock | (F4) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 2, 2023, and received in exchange for the option, these RSUs that vest in twelve equal quarterly installments commencing May 1, 2024. (F8) The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 1, 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. |
| 6 | Derivative | Stock Option (right to buy) | 2024-02-13 | D | D | 47,100 | — | 0 | D | $17.67 · — to 2032-03-03 | 47,100 Common Stock | (F3) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2022, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024. (F7) The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 1, 2022 (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. |
| 7 | Derivative | Stock Option (right to buy) | 2024-02-13 | D | D | 320,000 | — | 0 | D | $25.89 · — to 2030-08-03 | 320,000 Common Stock | (F1) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on August 3, 2020, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in four equal quarterly installments commencing May 1, 2024. (F5) The canceled option vested as to 1/4 of the total shares on August 1, 2021, and then 1/48 of the total shares vest monthly thereafter, with 100% of the total shares vesting on August 1, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date. |
| 8 | Derivative | Stock Option (right to buy) | 2024-02-13 | D | D | 28,800 | — | 0 | D | $32.44 · — to 2031-03-02 | 28,800 Common Stock | (F2) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2021, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024 (F6) The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 3, 2021 (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. |