Arcutis Biotherapeutics, Inc. — Director's Dealing 2021

Jan 21, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arcutis Biotherapeutics, Inc. (ARQT)
CIK: 0001787306
Period of Report: 2021-01-19

Reporting Person: Smither John W (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-19	Common Stock	M	500	$1.6806	Acquired	25698	Direct
2021-01-19	Common Stock	S	500	$30.00	Disposed	25198	Direct
2021-01-19	Common Stock	S	1250	$30	Disposed	93715	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-19	Stock Option (Right to Buy)	$1.6806	M	500	Disposed	2029-05-14	Common Stock (500)	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person.

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 1994 Smither Family Trust, as Amended and Restated in 2014, of which the Reporting Person is a 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 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.