Lock Kenneth A. 4
4 · Arcutis Biotherapeutics, Inc. · Filed Oct 27, 2020
Insider Transaction Report
Form 4
Lock Kenneth A.
Chief Commercial Officer
Transactions
- Exercise/Conversion
Common Stock
2020-10-26$6.52/sh+2,668$17,395→ 21,863 total - Exercise/Conversion
Stock Option (Right to Buy)
2020-10-26−2,668→ 147,080 totalExercise: $6.52Exp: 2029-10-28→ Common Stock (2,668 underlying)
Footnotes (3)
- [F1]Reflects cash exercise of stock option without the disposition of the underlying shares.
- [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 option began vesting as to 1/4 of the total shares on October 14, 2020, and then 1/48 of the total shares vest monthly thereafter, with 100% of the total shares vested and exercisable on October 14, 2023, subject to the Reporting Person's provision of service 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.