New insider Vairavan Latha claimed ownership of 45,104 shares (SEC Form 3)
$ARQT
Biotechnology: Pharmaceutical Preparations
Health Care
| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
|
|||||||||||||||
1. Name and Address of Reporting Person*
(Street)
|
2. Date of Event Requiring Statement
(Month/Day/Year) 05/06/2025 |
3. Issuer Name and Ticker or Trading Symbol
Arcutis Biotherapeutics, Inc. [ ARQT ] |
|||||||||||||
|
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
|
5. If Amendment, Date of Original Filed
(Month/Day/Year) |
||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
| |||||||||||||||
| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 45,104(1) | D | |
|
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Stock Option (right to buy) | (2) | 03/03/2032 | Common Stock | 5,500 | $17.67 | D | |
| Stock Option (right to buy) | (3) | 03/02/2033 | Common Stock | 5,000 | $15.82 | D | |
| Stock Option (right to buy) | (4) | 01/12/2034 | Common Stock | 43,500 | $3.64 | D | |
| Stock Option (right to buy) | (5) | 02/28/2035 | Common Stock | 23,750 | $13.69 | D | |
| Explanation of Responses: |
| 1. Represents 2,225 Restricted Stock Units ("RSUs") granted on March 3, 2022 that vest on March 1, 2026; 4,050 RSUs granted on March 2, 2023 that vest as to 1/2 each on March 1, 2026 and 2027; 8,625 RSUs granted on January 12, 2024 that vest as to 1/3 each on February 1, 2026, 2027, and 2028; 713 RSUs granted on February 13, 2024 pursuant to option exchange program that vest as to 1/3 on each of August 1, 2025, November 1, 2025, and February 1, 2026; and 11,250 RSUs granted on February 28, 2025 that vest as to 1/4 each on March 1, 2026, 2027, 2028 and, 2029, in each case subject to the Reporting Person's continuous provision of services to the Issuer through each vesting date. |
| 2. The option became exercisable as to 4,354 shares as of May 1, 2025. The remaining 1,146 of the 5,500 shares granted become exercisable in equal monthly installments on the first of every month, ending on March 1, 2026, in each case subject to the Reporting Person's continuous provision of services to the Issuer through each vesting date. |
| 3. The option became exercisable as to 2,708 shares as of May 1, 2025. The remaining 2,292of the 5,000 shares granted become exercisable in equal monthly installments on the first of every month, ending on March 1, 2027, in each case subject to the Reporting Person's continuous provision of services to the Issuer through each vesting date. |
| 4. The option became exercisable as to 13,594 shares as of April 12, 2025. The remaining 29,906 of the 43,500 shares granted become exercisable in equal monthly installments on the 12th of every month, ending on January 12, 2028, in each case subject to the Reporting Person's continuous provision of services to the Issuer through each vesting date. |
| 5. The option became exercisable as to 990 shares as of May 1, 2025. The remaining 22,760 of the 23,750 shares granted become exercisable in equal monthly installments on the first of every month, ending on March 1, 2029, in each case subject to the Reporting Person's continuous provision of services to the Issuer through each vesting date. |
| Remarks: |
| /s/ Masaru Matsuda, Attorney-in-Fact for Latha Vairavan | 05/07/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||