Arcutis (ARQT) director receives RSU grant and 16,667-share stock option
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Arcutis Biotherapeutics director Leonard Keith R reported equity awards connected to his service as a non-employee director as of the company’s 2026 annual meeting. He received 5,778 Restricted Stock Units (RSUs), each convertible into one share of common stock upon vesting on the earlier of the first anniversary of the June 5, 2026 grant date or immediately before the next annual meeting, subject to continued service. Settlement of the vested RSUs has been deferred under an RSU Deferral Election Form adopted on October 28, 2025. He was also granted a stock option for 16,667 shares of common stock at an exercise price of $21.23 per share, vesting on the same schedule and expiring on June 5, 2036. Following these awards, he holds 27,901 shares directly and 1,750 shares indirectly through the Leonard Family Trust dated August 28, 1996, for which he disclaims beneficial ownership except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Leonard Keith R
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 16,667 | $0.00 | -- |
| Grant/Award | Common Stock | 5,778 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 16,667 shares (Direct, null);
Common Stock — 27,901 shares (Direct, null);
Common Stock — 1,750 shares (Indirect, By Leonard Family Trust dated August 28, 1996)
Footnotes (1)
- Represents Restricted Stock Units ("RSUs") granted in connection with the Reporting Person's service as a non-employee director as of the Company's 2026 annual meeting of stockholders. The Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof, which shall occur on the earlier of the first anniversary of the grant date, June 5, 2026, or immediately before the next annual meeting of stockholders, subject to the continued service through the vesting date. Upon vesting of the RSUs, the settlement has been deferred by the Reporting Person, pursuant to the terms of the RSU Deferral Election Form adopted on October 28, 2025, maintained by the Company. Shares held by Leonard Family Trust dated August 28, 1996, of which the Reporting Person is a 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 underlying shares subject to the option vest and become exercisable as to 100% on the earlier of the first anniversary of the grant date, June 5, 2026, or immediately before the next annual meeting of stockholders, subject to the continued service through the vesting date.
Key Figures
RSU grant: 5,778 RSUs
Stock option grant: 16,667 options
Option exercise price: $21.23 per share
+3 more
6 metrics
RSU grant
5,778 RSUs
Granted as of 2026 annual meeting; one share per RSU
Stock option grant
16,667 options
Stock Option (right to buy) granted June 5, 2026
Option exercise price
$21.23 per share
Conversion or exercise price for 16,667-share option
Option expiration
June 5, 2036
Expiration date of stock option grant
Direct holdings after grant
27,901 shares
Total common stock held directly following transactions
Indirect trust holdings
1,750 shares
Common stock held by Leonard Family Trust
Key Terms
Restricted Stock Units ("RSUs"), Stock Option (right to buy), RSU Deferral Election Form, pecuniary interest, +1 more
5 terms
Restricted Stock Units ("RSUs") financial
"Represents Restricted Stock Units ("RSUs") granted in connection with the Reporting Person's service"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Stock Option (right to buy) financial
"security_title": "Stock Option (right to buy)""
RSU Deferral Election Form financial
"settlement has been deferred by the Reporting Person, pursuant to the terms of the RSU Deferral Election Form adopted"
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein"
Section 16 regulatory
"shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What equity awards did Arcutis Biotherapeutics (ARQT) director Leonard receive?
Leonard received 5,778 Restricted Stock Units and a stock option for 16,667 shares at $21.23 per share. Both awards relate to his service as a non-employee director at the 2026 annual meeting.
When do Leonard’s new ARQT RSUs and stock options vest?
Both the 5,778 RSUs and the 16,667-share stock option vest 100% on the earlier of June 5, 2026, the first anniversary of grant, or immediately before Arcutis’s next annual stockholder meeting, assuming continued service.
What is the exercise price and expiration date of Leonard’s new ARQT stock option?
The granted stock option covers 16,667 shares of Arcutis common stock at an exercise price of $21.23 per share and expires on June 5, 2036, according to the Form 4 disclosure.
How are Leonard’s ARQT RSUs settled after vesting?
Upon vesting, each RSU converts into one share of Arcutis common stock, but settlement has been deferred under an RSU Deferral Election Form adopted October 28, 2025 and maintained by the company.