Heron Patrick J 4
4 · Arcutis Biotherapeutics, Inc. · Filed Jun 9, 2026
Research Summary
AI-generated summary of this filing
Arcutis (ARQT) Director Patrick J. Heron Receives RSU Awards
What Happened Patrick J. Heron, a director of Arcutis Biotherapeutics (ARQT), was granted two equity awards on June 5, 2026: 5,778 shares and 16,667 derivative RSUs, for a total of 22,445 RSUs. Both awards are reported at $0.00 (no cash paid). The RSUs vest on the earlier of the first anniversary of the grant (June 5, 2026) or immediately before the next annual meeting of stockholders, subject to continued service. Upon vesting, settlement of the RSUs has been deferred by Mr. Heron under the company's RSU Deferral Election.
Key Details
- Transaction date: June 5, 2026; price reported: $0.00 per share (code A — award/grant).
- Awards: 5,778 shares (direct award) and 16,667 RSUs (derivative), total 22,445.
- Vesting: earlier of June 5, 2027 (1-year anniversary) or immediately before the next annual meeting, subject to continued service (see footnote F1).
- Settlement: Mr. Heron elected to defer settlement upon vesting per RSU Deferral Election (footnote F1).
- Holdings after transaction: not specified in the excerpted filing.
- Footnotes of note: F1 (RSU terms and deferral); F2–F5 (certain shares held by investment vehicles/trusts where Mr. Heron disclaims beneficial ownership except for pecuniary interest); F6 explains vesting for options referenced elsewhere in the filing.
- Filing timeliness: Form 4 filed June 9, 2026 (appears timely under the Form 4 reporting window).
Context RSUs are equity awards that convert into common stock (or cash) upon vesting; they are not an open‑market purchase or sale. Because Mr. Heron elected to defer settlement, he will not immediately receive the underlying shares at vesting per the deferral election. Awards and deferrals are common for directors and do not, by themselves, indicate a buy/sell signal.
Insider Transaction Report
Form 4
Heron Patrick J
Director
Transactions
- Award
Common Stock
[F1]2026-06-05+5,778→ 32,213 total - Award
Stock Option (right to buy)
[F6]2026-06-05+16,667→ 16,667 totalExercise: $21.23Exp: 2036-06-05→ Common Stock (16,667 underlying)
Holdings
- 24,802(indirect: By Frazier Life Sciences X, L.P.)
Common Stock
[F2] - 8,785,284(indirect: By Frazier Life Sciences VIII, L.P.)
Common Stock
[F3] - 7(indirect: By FHM Life Sciences VIII, L.L.C.)
Common Stock
[F4] - 23,688(indirect: By Trust)
Common Stock
[F5]
Footnotes (6)
- [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 21, 2025, maintained by the Company.
- [F2]The shares reported herein are held of record by Frazier Life Sciences X, L.P. FHMLS X, L.P. is the general partner of Frazier Life Sciences X, L.P. and FHMLS X, L.L.C. is the general partner of FHMLS X, L.P. The Reporting Person is one of two managing members of FHMLS X, L.L.C. 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 shares reported herein are held of record by Frazier Life Sciences VIII, L.P. FHM Life Sciences VIII, L.P. is the general partner of Frazier Life Sciences VIII, L.P. and FHM Life Sciences VIII, L.L.C. is the general partner of FHM Life Sciences VIII, L.P. The Reporting Person is one of two managing members of FHM Life Sciences VIII, L.L.C. 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.
- [F4]The shares reported herein are held of record by FHM Life Sciences VIII, L.L.C. The Reporting Person is one of two managing members of FHM Life Sciences VIII, L.L.C. 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.
- [F5]The shares are held directly by The Heron Living Trust 11/30/2004. The Reporting Person is the co-trustee of The Heron Living Trust 11/30/2004 and has voting and investment power of the securities held by The Heron Living Trust 11/30/2004. 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.
- [F6]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, Attorney-in-Fact for Patrick J. Heron|2026-06-09