Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Arcutis Biotherapeutics (ARQT) has announced the grant of 62,000 restricted stock units to eight newly hired employees. The awards were approved by the company's Compensation Committee and granted under the Arcutis Biotherapeutics 2022 Inducement Plan, with a grant date of February 3, 2025. The stock units are designed as an employment inducement in compliance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units feature a four-year vesting schedule, with 25% vesting occurring on each annual anniversary of the vesting commencement date. Continued employment with Arcutis is required for vesting eligibility.
Arcutis Biotherapeutics (ARQT) ha annunciato l'assegnazione di 62.000 unità azionarie riservate a otto nuovi dipendenti. Gli awards sono stati approvati dal Comitato per la Compensazione della società e concessi nell'ambito del Piano di Induzione 2022 di Arcutis Biotherapeutics, con data di concessione del 3 febbraio 2025. Le unità azionarie sono progettate come incentivo all'occupazione in conformità con la Regola di Listing 5635(c)(4) di Nasdaq.
Le unità azionarie riservate presentano un programma di maturazione di quattro anni, con il 25% che matura ad ogni anniversario annuale della data di inizio della maturazione. È richiesta la continuazione dell'impiego con Arcutis per avere diritto alla maturazione.
Arcutis Biotherapeutics (ARQT) ha anunciado la concesión de 62,000 unidades de acciones restringidas a ocho empleados recientemente contratados. Los premios fueron aprobados por el Comité de Compensación de la compañía y otorgados bajo el Plan de Inducción 2022 de Arcutis Biotherapeutics, con fecha de concesión del 3 de febrero de 2025. Las unidades de acciones están diseñadas como un incentivo laboral en cumplimiento con la Regla de Cotización 5635(c)(4) de Nasdaq.
Las unidades de acciones restringidas cuentan con un calendario de adquisición de cuatro años, donde el 25% se adquiere en cada aniversario anual de la fecha de inicio de la adquisición. Se requiere continuar trabajando con Arcutis para ser elegible para la adquisición.
Arcutis Biotherapeutics (ARQT)는 8명의 신규 채용 직원에게 62,000 제한 주식 단위를 부여했다고 발표했습니다. 이 수여는 회사의 보상 위원회에 의해 승인되었으며, Arcutis Biotherapeutics 2022 유도 계획에 따라 부여되며, 부여 날짜는 2025년 2월 3일입니다. 주식 단위는 Nasdaq 상장 규칙 5635(c)(4)에 따라 고용 유인으로 설계되었습니다.
제한 주식 단위는 4년의 취득 일정이 있으며, 매년 취득 시작일의 연도 기념일에 25%가 취득됩니다. 취득 자격을 얻으려면 Arcutis와 계속 고용되어 있어야 합니다.
Arcutis Biotherapeutics (ARQT) a annoncé l'attribution de 62 000 unités d'actions restreintes à huit nouveaux employés. Les récompenses ont été approuvées par le Comité de Rémunération de la société et accordées dans le cadre du Plan d'Incitation 2022 d'Arcutis Biotherapeutics, avec une date d'attribution fixée au 3 février 2025. Les unités d'actions sont conçues comme un incitatif à l'embauche conformément à la règle de cotation Nasdaq 5635(c)(4).
Les unités d'actions restreintes présentent un calendrier d'acquisition de quatre ans, avec 25 % des actions acquises à chaque anniversaire annuel de la date de début d'acquisition. La poursuite de l'emploi chez Arcutis est nécessaire pour être éligible à l'acquisition.
Arcutis Biotherapeutics (ARQT) hat die Gewährung von 62.000 eingeschränkten Aktieneinheiten an acht neu eingestellte Mitarbeiter bekannt gegeben. Die Auszeichnungen wurden vom Vergütungsausschuss des Unternehmens genehmigt und im Rahmen des Arcutis Biotherapeutics 2022 Incentive Plans gewährt, mit einem Gewährungsdatum vom 3. Februar 2025. Die Aktieneinheiten sind als Arbeitsanreiz gemäß der Nasdaq-Listing-Regel 5635(c)(4) konzipiert.
Die eingeschränkten Aktieneinheiten haben einen vierjährigen Vesting-Zeitplan, wobei 25 % an jedem jährlichen Jahrestag des Vesting-Startdatums vesten. Für die Berechtigung zum Vesting ist eine fortdauernde Beschäftigung bei Arcutis erforderlich.
- Employee retention strategy implemented through equity-based compensation
- Structured vesting schedule (25% annually) promotes long-term employee commitment
- Potential shareholder dilution from 62,000 new restricted stock units
WESTLAKE VILLAGE, Calif., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 62,000 restricted stock units of Arcutis’ common stock to eight newly hired employees. These awards were approved by the Compensation Committee of Arcutis’ Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of February 3, 2025, as an inducement material to the new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units vest over four years, with 25 percent vesting on each annual anniversary of the vesting commencement date, subject to the employee being continuously employed by Arcutis as of such vesting dates.
Arcutis is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis has a growing portfolio including three FDA approved products that harness our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including scalp and body psoriasis, atopic dermatitis, and alopecia areata. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram, and X.
Forward-Looking Statements
Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, the timing and expenses of commercialization efforts, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 27, 2024, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contacts:
Media
Amanda Sheldon, Head of Corporate Communications
media@arcutis.com
Investors
Latha Vairavan, Vice President, Finance and Corporate Controller
ir@arcutis.com
FAQ
How many restricted stock units did Arcutis Biotherapeutics (ARQT) grant in February 2025?
What is the vesting schedule for ARQT's February 2025 restricted stock units grant?
Under which plan were ARQT's February 2025 restricted stock units granted?
What is the purpose of ARQT's February 2025 restricted stock units grant?
