4//SEC Filing
Watanabe Todd Franklin 4
Accession 0001787306-25-000042
CIK 0001787306other
Filed
Mar 3, 7:00 PM ET
Accepted
Mar 4, 7:43 PM ET
Size
16.8 KB
Accession
0001787306-25-000042
Insider Transaction Report
Form 4
Watanabe Todd Franklin
DirectorSee Remarks
Transactions
- Sale
Common Stock
2025-03-03$13.03/sh−20,880$272,089→ 934,249 total - Sale
Common Stock
2025-03-04$13.28/sh−4,135$54,930→ 930,114 total - Award
Stock Option (right to buy)
2025-02-28+396,000→ 396,000 totalExercise: $13.69Exp: 2035-02-28→ Common Stock (396,000 underlying) - Award
Common Stock
2025-02-28+151,000→ 955,129 total
Holdings
- 24,413(indirect: By Trust)
Common Stock
- 24,413(indirect: By Trust)
Common Stock
- 57,358(indirect: By LLC)
Common Stock
- 124,956(indirect: By Trust)
Common Stock
Footnotes (10)
- [F1]Constitute restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon vesting, in which 25% of the RSUs vest annually on March 1, (the "Vesting Commencement Date"), of each year beginning March 1, 2026, subject to the Reporting Person's continued service to the Issuer.
- [F10]1/48th of the shares subject to the option vest on each monthly anniversary measured from March 1, 2025 (the "Vesting Commencement Date"), such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date, subject to the Reporting Person's continued service to the Issuer.
- [F2]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs, granted on March 3, 2022 and March 2, 2023.
- [F3]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $12.6902 to $13.83, inclusive. 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.
- [F4]The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs, granted on March 3, 2021.
- [F5]The price reported in Column 4 is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $12.28 to $13.99, inclusive. 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.
- [F6]The securities are held of record by The John Franklin Watanabe Trust, of which the Reporting Person is the 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.
- [F7]The securities are held of record by The Anderson Prest Watanabe Irrevocable Trust, of which the Reporting Person is the 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.
- [F8]The securities are held of record by Watanabe Ventures, LLC, of which the Reporting Person is the Chief Operating Officer. 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.
- [F9]The securities are held of record by The Watanabe 2016 Irrevocable Trust, of which the Reporting Person's children are beneficiaries. 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.
Documents
Issuer
Arcutis Biotherapeutics, Inc.
CIK 0001787306
Entity typeother
Related Parties
1- filerCIK 0001801061
Filing Metadata
- Form type
- 4
- Filed
- Mar 3, 7:00 PM ET
- Accepted
- Mar 4, 7:43 PM ET
- Size
- 16.8 KB