Gilbert Halley E 4

What Happened

• Gilbert Halley, a director of Arcutis Biotherapeutics (ARQT), was granted two awards on June 5, 2026: 5,778 restricted stock units (RSUs) and 16,667 derivative awards (total 22,445). Both awards show an acquisition price of $0.00 (no cash paid).
• The RSUs convert into one share of common stock per RSU upon vesting. The 16,667 derivative award’s underlying shares (options/derivative) vest and become exercisable 100% on the earlier of the first anniversary of the grant date (June 5, 2026) or immediately before the next annual meeting, subject to continued service.

Key Details

• Transaction date: 2026-06-05; reported on Form 4 filed 2026-06-09 (timely filing).
• Prices: $0.00 per share for both awards (standard for grants/compensation).
• Total awarded: 5,778 RSUs + 16,667 derivative units = 22,445 potential shares upon vesting/exercise.
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes: F1 explains RSU mechanics (1 RSU = 1 share at vesting); F2 explains the derivative award vests/exercisable 100% on the stated schedule.
• No indication of a 10b5-1 plan, sale, tax withholding, or cashless exercise in the filing.

Context

• RSU and derivative grants to non-employee directors are common as board compensation and do not represent an immediate market purchase or sale; they convert to or allow acquisition of shares only upon vesting/exercise.
• Because these are awards (not open-market purchases or sales), they are routine compensation rather than direct statements of buy/sell intent.