0001787306-24-000016.txt : 20240215
0001787306-24-000016.hdr.sgml : 20240215
20240215183044
ACCESSION NUMBER: 0001787306-24-000016
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240213
FILED AS OF DATE: 20240215
DATE AS OF CHANGE: 20240215
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Watanabe Todd Franklin
CENTRAL INDEX KEY: 0001801061
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39186
FILM NUMBER: 24645266
MAIL ADDRESS:
STREET 1: C/O ARCUTIS BIOTHERAPEUTICS, INC.
STREET 2: 2945 TOWNSGATE ROAD, SUITE 110
CITY: WESTLAKE VILLAGE
STATE: CA
ZIP: 91361
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Arcutis Biotherapeutics, Inc.
CENTRAL INDEX KEY: 0001787306
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
ORGANIZATION NAME: 03 Life Sciences
IRS NUMBER: 812974255
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 3027 TOWNSGATE ROAD
STREET 2: SUITE 300
CITY: WESTLAKE VILLAGE
STATE: CA
ZIP: 91361
BUSINESS PHONE: 805-418-5006
MAIL ADDRESS:
STREET 1: 3027 TOWNSGATE ROAD
STREET 2: SUITE 300
CITY: WESTLAKE VILLAGE
STATE: CA
ZIP: 91361
FORMER COMPANY:
FORMER CONFORMED NAME: Arcutis, Inc.
DATE OF NAME CHANGE: 20190905
4
1
wk-form4_1708039829.xml
FORM 4
X0508
4
2024-02-13
0
0001787306
Arcutis Biotherapeutics, Inc.
ARQT
0001801061
Watanabe Todd Franklin
C/O ARCUTIS BIOTHERAPEUTICS, INC.
3027 TOWNSGATE ROAD, SUITE 300
WESTLAKE VILLAGE
CA
91361
1
1
0
0
See Remarks
0
Common Stock
2024-02-13
4
A
0
21666
A
648685
D
Common Stock
2024-02-13
4
A
0
33066
A
681751
D
Common Stock
2024-02-13
4
A
0
94050
A
775801
D
Common Stock
2024-02-13
4
A
0
116100
A
891901
D
Common Stock
24413
I
By Trust
Common Stock
24413
I
By Trust
Common Stock
124956
I
By Trust
Common Stock
57358
I
By LLC
Stock Option (right to buy)
27.61
2024-02-13
4
D
0
65000
D
2030-02-27
Common Stock
65000
0
D
Stock Option (right to buy)
32.44
2024-02-13
4
D
0
99200
D
2031-03-03
Common Stock
99200
0
D
Stock Option (right to buy)
17.67
2024-02-13
4
D
0
188100
D
2032-03-03
Common Stock
188100
0
D
Stock Option (right to buy)
15.82
2024-02-13
4
D
0
232200
D
2033-03-02
Common Stock
232200
0
D
On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on February 27, 2020, and received in exchange for the option, these Restricted Stock Units ("RSUs") that vest in four equal quarterly installments commencing May 1, 2024.
On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2021, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024.
On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 3, 2022, and received in exchange for the option, these RSUs that vest in eight equal quarterly installments commencing May 1, 2024.
On February 13, 2024, the Issuer canceled, pursuant to the Issuer's option exchange program, an option granted to the Reporting Person on March 2, 2023. and received in exchange for the option, these RSUs that vest in twelve equal quarterly installments commencing May 1, 2024.
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.
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.
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.
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.
The canceled option vest in equal monthly installments over a period of 48 months commencing on the grant date so that 100% of the shares become fully vested and exercisable on February 27, 2024, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 3, 2021 (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.
The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 1, 2022 (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.
The canceled option vest as to 1/48 of the shares subject to the option vest on each monthly anniversary measured from March 1, 2023 (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.
Reporting Person's title: President and Chief Executive Officer
/s/ John W. Smither as Attorney-in-Fact for Todd Franklin Watanabe
2024-02-15