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Arcutis Biotherapeutics, Inc. — Director's Dealing 2021
Jul 23, 2021
31600_dirs_2021-07-23_7a3769c9-f2f9-4ba3-945c-f874dbb59c54.zip
Director's Dealing
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SEC Form 4/A — Form 4/A
Issuer: Arcutis Biotherapeutics, Inc. (ARQT)
CIK: 0001787306
Period of Report: 2021-02-04
Reporting Person: Welgus Howard G. (Director)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 181896 | Direct |
| Common Stock | 24991 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Stock Option (Right to Buy) | $1.6806 | 2029-03-13 | Common Stock (44982) | 44982 | Direct |
| Stock Option (Right to Buy) | $1.6806 | 2029-03-13 | Common Stock (13667) | 13667 | Direct |
Footnotes
F1: Option exercises unwound as the transaction was not authorized by the Reporting Person. This Form 4/A corrects the aforementioned error by removing the transactions and adjusting the Reporting Person's ownership accordingly.
F2: Includes 9,000 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.
F3: 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.
F4: The option began vesting on March 13, 2019 and will vest monthly over a four year period, 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.
F5: 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.