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

Rhea-AI Summary

Arcutis Biotherapeutics (Nasdaq: ARQT) reported the grant of 94,500 restricted stock units to 12 newly hired employees as inducement awards under the 2022 Inducement Plan.

The awards were approved by the Compensation Committee, granted with a grant date of October 1, 2025, and disclosed on October 3, 2025 in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs vest over four years, with 25% vesting on each annual anniversary, contingent on continuous employment through each vesting date.

WESTLAKE VILLAGE, Calif., Oct. 03, 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 94,500 restricted stock units of Arcutis’ common stock to 12 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 October 1, 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 of advanced targeted topicals approved to treat three major inflammatory skin diseases. Arcutis’ unique dermatology development platform coupled with our dermatology expertise allows us to invent differentiated therapies against biologically validated targets, and has produced a robust pipeline for a range of inflammatory dermatological conditions. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, Instagram and X.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For example, 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 and are subject to 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. Risks and uncertainties that may cause our actual results to differ include risks inherent in our business, reimbursement and access to our products, the impact of competition and other important factors discussed in the “Risk Factors” section of our Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on February 25, 2025, as well as any subsequent filings with the SEC. Any forward-looking statements that the company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, we undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

Contacts:
Media
Amanda Sheldon, Head of Corporate Communications
media@arcutis.com

Investors
Brian Schoelkopf, Head of Investor Relations
ir@arcutis.com

FAQ

What did Arcutis (ARQT) announce on October 3, 2025 about inducement grants?

Arcutis announced an aggregate grant of 94,500 restricted stock units to 12 newly hired employees, disclosed under Nasdaq Rule 5635(c)(4).

How do the Arcutis (ARQT) RSUs vest and when did they grant them?

The RSUs were granted with a grant date of October 1, 2025 and vest over four years at 25% per year on each anniversary, subject to continued employment.

Why did Arcutis (ARQT) use Nasdaq Listing Rule 5635(c)(4) for these grants?

Because the awards were inducement grants to newly hired employees, requiring disclosure under Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement awards from Arcutis (ARQT)?

12 newly hired employees received the aggregate 94,500 restricted stock units.

Do the Arcutis (ARQT) press release details imply immediate dilution to shareholders?

The press release states the aggregate RSU amount (94,500) but does not quantify percentage dilution versus outstanding shares.

Who approved the Arcutis (ARQT) inducement awards?

The inducement awards were approved by the Compensation Committee of Arcutis’ Board of Directors.