Leonard Keith R 4
4 · Arcutis Biotherapeutics, Inc. · Filed Jun 9, 2026
Research Summary
AI-generated summary of this filing
Arcutis (ARQT) Director Leonard Keith Receives RSU/Derivative Award
What Happened
Leonard Keith, a non-employee director of Arcutis Biotherapeutics (ARQT), received two awards on June 5, 2026: 5,778 restricted stock units (RSUs) and 16,667 derivative awards, for a total of 22,445 shares. Both grants show $0.00 paid by the reporting person (no cash consideration). The RSUs convert one-for-one into common shares upon vesting; the derivative award’s underlying shares vest under the schedule noted in the filing.
Key Details
- Transaction date(s): June 5, 2026; Form 4 filed June 9, 2026 (timely filing).
- Consideration: $0.00 for both awards.
- Award amounts: 5,778 RSUs (F1) + 16,667 derivative awards (total 22,445).
- Vesting: RSUs vest 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. The derivative award’s underlying shares vest 100% on the same earlier date (F3).
- Settlement deferral: Upon vesting, settlement of the RSUs has been deferred by the reporting person per an RSU Deferral Election Form adopted Oct 28, 2025 (F1).
- Shares owned after transaction: not specified in this filing.
- Trust note: The filing also lists shares held by the Leonard Family Trust (F2); Mr. Keith disclaims beneficial ownership except to the extent of pecuniary interest.
Context
- These are awards/grants (A) rather than open-market purchases or sales; they reflect compensation/board awards and not an immediate market buy or sell.
- Because settlement of the RSUs is deferred, Mr. Keith will not immediately receive tradable shares upon vesting unless he elects otherwise under the deferral arrangement.
- No cash was exchanged and no sales or option exercises occurred in this filing; the derivative award vests on a simple time-based schedule.
Insider Transaction Report
Form 4
Leonard Keith R
Director
Transactions
- Award
Common Stock
[F1]2026-06-05+5,778→ 27,901 total - Award
Stock Option (right to buy)
[F3]2026-06-05+16,667→ 16,667 totalExercise: $21.23Exp: 2036-06-05→ Common Stock (16,667 underlying)
Holdings
- 1,750(indirect: By Trust)
Common Stock
[F2]
Footnotes (3)
- [F1]Represents Restricted Stock Units ("RSUs") granted in connection with the Reporting Person's service as a non-employee director as of the Company's 2026 annual meeting of stockholders. The Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof, which shall occur on the earlier of the first anniversary of the grant date, June 5, 2026, or immediately before the next annual meeting of stockholders, subject to the continued service through the vesting date. Upon vesting of the RSUs, the settlement has been deferred by the Reporting Person, pursuant to the terms of the RSU Deferral Election Form adopted on October 28, 2025, maintained by the Company.
- [F2]Shares held by Leonard Family Trust dated August 28, 1996, 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.
- [F3]The underlying shares subject to the option vest and become exercisable as to 100% on the earlier of the first anniversary of the grant date, June 5, 2026, or immediately before the next annual meeting of stockholders, subject to the continued service through the vesting date.
Signature
/s/ Latha Vairavan, as Attorney-in-Fact for Keith Leonard|2026-06-09