Munshi Amit 4

What Happened
Amit Munshi, a non-employee director of Arcutis Biotherapeutics (ARQT), received equity awards on June 5, 2026. The Form 4 reports (1) 5,778 restricted stock units (RSUs) granted at $0.00 and (2) 16,667 derivative awards (reported as an award/derivative) at $0.00. Both entries show $0 total purchase price because these are compensation grants, not open-market purchases.

Key Details

• Transaction date: June 5, 2026. Form filed: June 9, 2026 (reporting period 2026-06-05).
• Award amounts: 5,778 RSUs (F1) and 16,667 derivative awards/options (F2). Reported price: $0.00; total cash value reported: $0.
• Vesting/exercise: F1 — RSUs convert to one share per RSU upon vesting; vesting occurs on the earlier of the first anniversary of the grant date (noted as June 5, 2026) or immediately before the next annual meeting, subject to continued service. F2 — underlying shares subject to the derivative award vest/exercise 100% on the same schedule, subject to continued service.
• Shares owned after transaction: Not specified in the provided filing summary.
• Filing timeliness: The Form 4 was filed 4 days after the grant (filed 6/9 for a 6/5 transaction), which is outside the usual two-business-day reporting window and therefore appears late.

Context
RSUs represent a promise to receive shares at vesting; derivative awards/options give the right to acquire shares when exercisable. These grants are compensation for board service and are not market purchases or sales—so they do not by themselves indicate buying or selling intent. The late filing may be noted by investors and could require additional disclosure or an amended filing from the company or insider.