Heron Patrick J 4

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.