Form 4 for ARQT Arcutis Biotherapeutics, Inc.
Accepted 2024-02-15 00:00:00 ET · period of report 2024-02-13 · accession 0001787306-24-000022 · 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 | Moore Matthew Richard | SVP, Chief Business Off | A - Grant | — | +94.9K | 145.3K | +188% | — |
| DM | 2024-02-15 | 2024-02-13 | ARQT | Moore Matthew Richard | SVP, Chief Business Off | D - Sale to Iss | — | -247.3K | 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 | 26,666 | — | 107,922 | 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 January 19, 2021, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in eight equal quarterly installments commencing May 1, 2024. |
| 2 | Common | Common Stock | 2024-02-13 | A | A | 4,166 | — | 149,488 | D | — | — | (F4) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, performance-based option granted to the Reporting Person on January 19, 2021, and deemed earned on August 29, 2023, 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 | 26,666 | — | 81,256 | 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 January 19, 2021, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in eight equal quarterly installments commencing May 1, 2024. |
| 4 | Common | Common Stock | 2024-02-13 | A | A | 17,650 | — | 125,572 | 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, 2022, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024. |
| 5 | Common | Common Stock | 2024-02-13 | A | A | 19,750 | — | 145,322 | 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 2, 2023, and received in exchange for the option, these RSUs that vest in twelve equal quarterly installments commencing May 1, 2024. |
| 6 | Derivative | Stock Option (Right to Buy) | 2024-02-13 | D | D | 80,000 | — | 0 | D | $28.72 · — to 2031-01-19 | 80,000 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 January 19, 2021, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in eight equal quarterly installments commencing May 1, 2024. (F5) The canceled option vested as to 1/4 of the total shares on July 20, 2021, and then 1/48 of the total shares vest monthly thereafter, with 100% of the total shares vesting on July 20, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date. |
| 7 | Derivative | Stock Option (Right to Buy) | 2024-02-13 | D | D | 80,000 | — | 0 | D | $28.72 · — to 2031-01-19 | 80,000 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 January 19, 2021, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in eight equal quarterly installments commencing May 1, 2024. (F6) The canceled option vested as to 1/4 of the total shares on January 11, 2022, and then 1/48 of the total shares vest monthly thereafter, with 100% of the total shares vesting on January 11, 2025, 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 | 35,300 | — | 0 | D | $17.67 · — to 2032-03-03 | 35,300 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, 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 vested as to 1/48 of the shares 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 on each vesting date. |
| 9 | Derivative | Stock Option (Right to Buy) | 2024-02-13 | D | D | 39,500 | — | 0 | D | $15.82 · — to 2033-03-02 | 39,500 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 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 vested as to 1/48 of the shares 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 on each vesting date. |
| 10 | Derivative | Stock Option (Right to Buy) | 2024-02-13 | D | D | 12,500 | — | 0 | D | $28.72 · — to 2031-01-18 | 12,500 Common Stock | (F4) On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, performance-based option granted to the Reporting Person on January 19, 2021, and deemed earned on August 29, 2023, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024. (F9) The canceled option vested as to 1/48 of the shares vest on each monthly anniversary of the milestone vesting commencement date, beginning on September 29, 2023, subject to the Reporting Person's provision of service to the Issuer on each vesting date. |