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Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Arcutis Biotherapeutics (Nasdaq: ARQT) has announced the grant of 75,500 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 on January 2, 2025. The stock units are structured with a four-year vesting schedule, with 25% vesting annually on each anniversary of the vesting commencement date. The grants were made as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4), and continued employment is required for vesting.

Arcutis Biotherapeutics (Nasdaq: ARQT) ha annunciato l'assegnazione di 75.500 unità azionarie riservate a otto nuovi dipendenti. I premi sono stati approvati dal Comitato per la Compensazione dell'azienda e concessi nell'ambito del Piano di Induzione Arcutis Biotherapeutics 2022 il 2 gennaio 2025. Le unità azionarie sono strutturate con un programma di maturazione di quattro anni, con il 25% che matura annualmente ad ogni anniversario della data di inizio della maturazione. I premi sono stati concessi come incentivi all'occupazione in conformità con la Regola di Quotazione Nasdaq 5635(c)(4), e il mantenimento dell'impiego è richiesto per la maturazione.

Arcutis Biotherapeutics (Nasdaq: ARQT) ha anunciado la concesión de 75,500 unidades de acciones restringidas a ocho empleados recién contratados. Las asignaciones fueron aprobadas por el Comité de Compensación de la empresa y otorgadas bajo el Plan de Inducción de Arcutis Biotherapeutics 2022 el 2 de enero de 2025. Las unidades de acciones están estructuradas con un programa de adquisición de cuatro años, con el 25% que se adquiere anualmente en cada aniversario de la fecha de inicio de la adquisición. Las asignaciones se realizaron como incentivos para el empleo en cumplimiento con la Regla de Inclusión Nasdaq 5635(c)(4), y se requiere empleo continuo para la adquisición.

Arcutis Biotherapeutics (Nasdaq: ARQT)는 8명의 새로 채용된 직원에게 75,500개의 제한주식 단위를 부여한다고 발표했습니다. 이 상은 회사의 보상 위원회의 승인을 받아 2022년 Arcutis Biotherapeutics 유도 계획에 따라 2025년 1월 2일에 부여되었습니다. 주식 단위는 4년의 베스팅 일정으로 구조화되어 있으며, 매년 베스팅 시작일의 기념일에 25%가 베스팅됩니다. 이번 부여는 Nasdaq 상장 규정 5635(c)(4)에 따라 고용 유인을 위해 이루어졌으며, 베스팅을 위해서는 지속적인 고용이 요구됩니다.

Arcutis Biotherapeutics (Nasdaq: ARQT) a annoncé l'octroi de 75 500 unités d'actions restreintes à huit employés nouvellement recrutés. Les récompenses ont été approuvées par le Comité de rémunération de l'entreprise et ont été accordées dans le cadre du Plan d'incitation Arcutis Biotherapeutics 2022 le 2 janvier 2025. Les unités d'actions sont structurées avec un calendrier d'acquisition de quatre ans, avec 25 % qui acquiert des droits chaque année à chaque anniversaire de la date de début d'acquisition. Les attributions ont été faites comme incitations à l'emploi en conformité avec la règle de cotation Nasdaq 5635(c)(4), et la continuité de l'emploi est requise pour l'acquisition.

Arcutis Biotherapeutics (Nasdaq: ARQT) hat die Gewährung von 75.500 eingeschränkten Aktieneinheiten an acht neu eingestellte Mitarbeiter angekündigt. Die Auszeichnungen wurden vom Vergütungsausschuss des Unternehmens genehmigt und am 2. Januar 2025 im Rahmen des Arcutis Biotherapeutics 2022 Induktionsplans vergeben. Die Aktieneinheiten sind mit einem vierjährigen Vesting-Zeitplan strukturiert, wobei 25 % jährlich am Jahrestag des Vesting-Beginns erworben werden. Die Gewährungen erfolgten als Anreiz für die Anstellung in Übereinstimmung mit der Nasdaq-Listungsregel 5635(c)(4), und kontinuierliche Anstellung ist erforderlich für das Vesting.

Positive
  • Employee retention strategy implemented through equity-based compensation
  • Expansion of workforce with eight new hires indicating company growth
Negative
  • Potential dilution of existing shareholders due to new stock unit grants

WESTLAKE VILLAGE, Calif., Jan. 06, 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 75,500 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 January 2, 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 ARQT grant to new employees in January 2025?

Arcutis Biotherapeutics granted 75,500 restricted stock units to eight newly hired employees on January 2, 2025.

What is the vesting schedule for ARQT's January 2025 restricted stock unit grants?

The restricted stock units vest over four years, with 25% vesting on each annual anniversary of the vesting commencement date.

Under which plan were ARQT's January 2025 stock grants issued?

The grants were issued under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan.

What is the purpose of ARQT's January 2025 restricted stock unit grants?

The stock units were granted as an inducement material to new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).

Arcutis Biotherapeutics, Inc.

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Biotechnology
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WESTLAKE VILLAGE