Edwards Larry Todd 4
4 · Arcutis Biotherapeutics, Inc. · Filed May 20, 2024
Insider Transaction Report
Form 4
Edwards Larry Todd
See Remarks
Transactions
- Sale
Common Stock
2024-05-17$8.98/sh−7,640$68,582→ 140,360 total - Award
Common Stock
2024-05-16+60,000→ 148,000 total
Footnotes (3)
- [F1]Represents Restricted Stock Units ("RSUs"), initially granted on February 22, 2024, in which the shares were subject to a performance-based vesting condition, which was deemed satisfied on May 16, 2024 (the "Vesting Commencement Date"). Therefore, 50% of the shares vested on May 16, 2024 and the remaining 50% of the shares vest on May 16, 2025, subject to the Reporting Person's continued service with the Company through the applicable vesting date.
- [F2]Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the RSUs, the shares were sold upon the vesting of the RSUs solely to cover applicable tax withholding.
- [F3]The transaction was executed in multiple trades in prices ranging from $8.76 to $9.115, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.