Arcutis Biotherapeutics (Nasdaq: ARQT) names Chris Peetz to its board
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Arcutis Biotherapeutics, Inc. expanded its Board of Directors from nine to ten members and appointed Christopher Peetz as a Class III independent director, effective July 15, 2026, with a term running until the 2029 annual meeting of stockholders, subject to earlier termination events.
Peetz, co‑founder and chief executive officer of Mirum Pharmaceuticals and a veteran biopharmaceutical executive, will receive an initial option to purchase 21,486 shares, a prorated annual equity award valued at about $350,000 (65% stock options and 35% restricted stock units), and a prorated $50,000 cash retainer under Arcutis’ non‑employee director program. Arcutis highlights its commercial-stage immuno‑dermatology focus and its ZORYVE roflumilast franchise, described as the number one prescribed branded topical therapy across atopic dermatitis, seborrheic dermatitis, and plaque psoriasis.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Board size: 10 directors
Initial option grant: 21,486 shares
Annual equity award value: $350,000
+3 more
6 metrics
Board size
10 directors
Authorized number of directors increased from nine to ten on July 15, 2026
Initial option grant
21,486 shares
Stock options granted to Christopher Peetz upon joining the Board
Annual equity award value
$350,000
Prorated annual equity award for Peetz, 65% options and 35% RSUs
Equity allocation to options
65%
Portion of Peetz’s annual equity award allocated to stock options
Equity allocation to RSUs
35%
Portion of Peetz’s annual equity award allocated to restricted stock units
Annual cash retainer
$50,000
Prorated annual cash retainer for Peetz’s service on the Board
Key Terms
independent director, restricted stock units, phosphodiesterase type 4 (PDE4) inhibitor, seborrheic dermatitis, +1 more
5 terms
independent director regulatory
"The Board determined that Mr. Peetz qualifies as an independent director"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
restricted stock units financial
"annual equity award fair valued at approximately $350,000 allocated to stock options and restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
phosphodiesterase type 4 (PDE4) inhibitor medical
"ZORYVE is a topical formulation of roflumilast, an advanced targeted topical phosphodiesterase type 4 (PDE4) inhibitor"
A phosphodiesterase type 4 (PDE4) inhibitor is a type of medication that blocks an enzyme responsible for turning off certain cell-to-cell signals, so those signals last longer and reduce inflammation or abnormal immune activity. Investors care because these drugs can target conditions such as respiratory, inflammatory, or neurological disorders; progress in trials, safety profile, and regulatory approval can significantly affect a company’s drug pipeline value and market potential.
seborrheic dermatitis medical
"ZORYVE is the number one prescribed branded topical therapy across atopic dermatitis, seborrheic dermatitis, and plaque psoriasis"
Seborrheic dermatitis is a common, chronic skin condition that causes red, flaky, itchy patches where oil-producing glands are concentrated, such as the scalp, face and chest. Investors care because it creates steady demand for over-the-counter and prescription treatments, influences clinical trial and regulatory risk for new therapies, and can affect sales, reimbursement and market share in dermatology—think of it as a recurring household problem that sustains a health-care product market.
atopic dermatitis medical
"ZORYVE cream is indicated for topical treatment of mild to moderate atopic dermatitis"
A chronic inflammatory skin condition, often called eczema, that causes dry, itchy, red patches and recurring flare-ups; think of it as a persistent rash that can come and go over a person’s life. It matters to investors because its chronic nature and large patient population create steady demand for treatments, influence drug development and approval decisions, affect healthcare costs and reimbursement, and can drive revenue and valuation shifts for companies working on therapies and diagnostics.
FAQ
What board change did Arcutis Biotherapeutics (ARQT) make in July 2026?
Arcutis increased its Board of Directors from nine to ten members and appointed Christopher Peetz as a Class III independent director effective July 15, 2026, with his term expiring at the company’s 2029 annual meeting of stockholders, subject to earlier termination events.
What is Christopher Peetz’s background before joining the Arcutis (ARQT) board?
Christopher Peetz is co‑founder and chief executive officer of Mirum Pharmaceuticals. His prior roles include CEO of Flashlight Therapeutics, CFO and head of corporate development at Tobira Therapeutics, senior positions at Jennerex and Onyx Pharmaceuticals, and service on Alpine Immune Sciences’ board.
How will new director Chris Peetz be compensated by Arcutis Biotherapeutics (ARQT)?
Peetz receives an initial option for 21,486 shares of common stock, eligibility for a prorated annual equity award valued at about $350,000 (65% options, 35% restricted stock units), and a prorated annual cash retainer of $50,000, all under Arcutis’ non‑employee director program.
What is ZORYVE and for which conditions is it approved by Arcutis (ARQT)?
ZORYVE is a topical roflumilast PDE4 inhibitor for inflammatory skin disease. Cream 0.05% treats mild to moderate atopic dermatitis in ages 2–5; 0.15% for ages 6+; 0.3% for plaque psoriasis in ages 2+; foam 0.3% for scalp/body plaque psoriasis in ages 12+ and seborrheic dermatitis in ages 9+.
What key safety information did Arcutis (ARQT) provide about ZORYVE?
ZORYVE is contraindicated in patients with moderate to severe liver impairment (Child‑Pugh B or C). The foam’s propellants are flammable, so fire, flame, and smoking should be avoided during and immediately after use. Common adverse reactions (≥1%) include headache, diarrhea, nausea and application site pain, varying by product.
Will Arcutis Biotherapeutics (ARQT) enter into an indemnification agreement with Chris Peetz?
Arcutis plans to enter into an indemnification agreement with Christopher Peetz using the same form previously approved by its Board and used for other directors, providing him protection similar to that offered to existing members of the company’s Board of Directors.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________
FORM 8-K
___________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 15, 2026
___________________________________________
(Exact name of registrant as specified in its charter)
___________________________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||
(Address of principal executive offices, including Zip Code)
Registrant’s telephone number, including area code: (805 ) 418-5006
___________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On July 15, 2026, the Board of Directors (the “Board”) of Arcutis Biotherapeutics, Inc. (the “Company”) increased the authorized number of directors on the Board from nine to ten directors and appointed Mr. Christopher Peetz as a new member of the Board. Mr. Peetz was appointed as a Class III director, with a term expiring at the Company’s 2029 annual meeting of stockholders or until his successor is duly elected and qualified, or his earlier death, resignation, disqualification or removal. The Board determined that Mr. Peetz qualifies as an independent director under the applicable rules and regulations of the Securities and Exchange Commission and the listing standards of The Nasdaq Stock Market LLC. Mr. Peetz has not been appointed to any committee of the Board.
Mr. Peetz is a co-founder of Mirum Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, where he has served as Chief Executive Officer since March 2019 and as President from November 2018 to January 2024. Prior to Mirum Pharmaceuticals, Inc., Mr. Peetz served as Chief Executive Officer of Flashlight Therapeutics, Inc., a biotechnology company, from May 2017 to May 2019. He also previously served as Chief Financial Officer and head of corporate development at Tobira Therapeutics, Inc., a publicly-traded biotechnology company acquired by Allergan plc. in November 2016, from May 2014 to December 2016. Prior to joining Tobira Therapeutics, Inc, Mr. Peetz served as Vice President, Finance and Corporate Development of Jennerex Biotherapeutics, Inc., a biopharmaceutical company. Prior to Jennerex, Mr. Peetz held various positions at Onyx Pharmaceuticals, Inc. (now Amgen Inc.), including corporate strategy, marketing, product lifecycle management, and financial planning. Prior to Onyx, Mr. Peetz provided merger and acquisition advisory services at LaSalle Corporate Finance, a part of ABN AMRO, and held positions at Abgenix Inc. and Solazyme Inc. He also served as a member of the board of directors of Alpine Immune Sciences, Inc., a public immunotherapy company, from April 2018 until its sale to Vertex in May 2024. Mr. Peetz has been an entrepreneur-in-residence at Frazier Life Sciences since May 2017. Mr. Peetz received an M.B.A. from Stanford Graduate School of Business and a B.S.B.A. in finance, international business, and French from Washington University in St. Louis.
As a non-employee director, Mr. Peetz will receive compensation in accordance with the Company’s non-employee director compensation program, as amended. Pursuant to this program, upon the effective date of his appointment to the Board, Mr. Peetz received an initial stock option award exercisable for 21,486 shares of the Company’s common stock, and is eligible for the prorated annual equity award fair valued at approximately $350,000 (allocated 65% to stock options and 35% to restricted stock units) and for the prorated portion of the annual cash retainer in the amount of $50,000 for service on the Board. The initial stock option award will vest in three equal annual installments on the anniversary of the date of Mr. Peetz’s appointment to the Board, and the prorated annual equity award immediately before the annual meeting following the grant date, subject to Mr. Peetz’s continued service to the Company through such date.
In addition, the Company will enter into an indemnification agreement with Mr. Peetz on the form previously approved by the Board and entered into with the Company’s other directors.
There is no arrangement or understanding between Mr. Peetz and any other person pursuant to which he was selected as a director. There are no family relationships between Mr. Peetz and any of the Company’s directors or executive officers. There are no transactions to which the Company is a party and in which Mr. Peetz has a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
On July 16, 2026, the Company issued a press release announcing the appointment of Mr. Peetz. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 7.01 and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. | ||||
| (d) Exhibits | |||||
Exhibit No. | Description | |||||||
99.1 | Arcutis Biotherapeutics Inc. Appoints Christopher Peetz to Board of Directors. | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ARCUTIS BIOTHERAPEUTICS, INC. | |||||||||||
| Date: July 16, 2026 | By: | /s/ Latha Vairavan | |||||||||
Latha Vairavan Chief Financial Officer | |||||||||||
Exhibit 99.1 FOR IMMEDIATE RELEASE Arcutis Expands Board of Directors with Appointment of Chris Peetz WESTLAKE VILLAGE, Calif., July 16, 2026 – Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a commercial-stage biopharmaceutical company focused on developing meaningful innovation in immuno-dermatology, today announced that Christopher “Chris” Peetz has been appointed to the Arcutis Board of Directors effective July 15, 2026. “We are delighted to welcome Chris Peetz to our Board of Directors at a pivotal time for Arcutis,” said Frank Watanabe, president and chief executive officer of Arcutis. “Chris has built an impressive track record leading biopharmaceutical companies through periods of expansion, from advancing multiple products through development, to building commercial franchises, and successfully growing pipelines through strategic acquisitions. His expertise will strengthen our Board as we continue to execute our strategy to grow the ZORYVE® (roflumilast) franchise, expand ZORYVE into new indications, and build our pipeline including evaluating external innovation.” “On behalf of the Board of Directors, I am pleased to welcome Chris to Arcutis," said Keith R. Leonard, chairman of the Board of Arcutis. "Throughout his career, Chris has demonstrated an exceptional ability to build and scale innovative biopharmaceutical organizations, guiding the successful development and commercialization of multiple products across a range of indications. His strategic insight, operational experience, and proven leadership will be invaluable to our Board as Arcutis continues its next phase of growth." “I am honored to join the Arcutis Board of Directors at such an exciting time for the company," said Chris Peetz. "Arcutis has built a strong foundation driven by a clear vision and a deep commitment to improving the lives of people living with immune-mediated skin diseases. I look forward to partnering with the Board and leadership team to support the company's continued growth and success."
Exhibit 99.1 Mr. Peetz is a leading biopharmaceutical executive who currently serves as a co-founder and chief executive officer of Mirum Pharmaceuticals, where his leadership focuses on bringing forward high-impact medicines for overlooked patient populations living with rare diseases. Since Mirum’s founding in 2018, he has guided its growth into a global organization with a diversified portfolio and a strong commitment to improving diagnosis, access, and patient outcomes. Prior to Mirum, Chris served as an entrepreneur-in-residence at Frazier Life Sciences. He was also the chief executive officer of Flashlight Therapeutics, Inc. and previously served as chief financial officer and head of corporate development at Tobira, which was acquired by Allergan plc. Prior to joining Tobira, Chris served as vice president, finance and corporate development of Jennerex Biotherapeutics. Previously, Chris held various positions at Onyx Pharmaceuticals, Inc. (now Amgen Inc.), including corporate strategy, marketing, product lifecycle management, and financial planning. Prior to Onyx, Chris provided merger and acquisition advisory services at LaSalle Corporate Finance, a part of ABN AMRO, and held positions at Abgenix, Inc. and Solazyme, Inc. He also served as a member of the board of directors of Alpine Immune Sciences, Inc., a public immunotherapy company, until its sale to Vertex. Chris holds an MBA from Stanford Graduate School of Business and a BSBA in finance, international business, and French from Washington University in St. Louis. About ZORYVE® (roflumilast) ZORYVE is the number one prescribed branded topical therapy across three major inflammatory dermatoses combined — atopic dermatitis, seborrheic dermatitis, and plaque psoriasis. ZORYVE is a topical formulation of roflumilast, an advanced targeted topical phosphodiesterase type 4 (PDE4) inhibitor. Inhibiting PDE4, an intracellular enzyme that is an established target in dermatology, decreases the production of pro-inflammatory mediators. This decreases inflammation in the skin and balances the skin’s immune system. Demonstrating both clinical impact and broad industry recognition, ZORYVE has been honored with multiple prestigious awards and recommendations. ZORYVE was recently awarded by Allure with the "2025 Best of Beauty Breakthrough Award," making it the first FDA-approved medication for atopic dermatitis, plaque psoriasis, and seborrheic dermatitis to win this prominent award. ZORYVE cream 0.3% and ZORYVE foam 0.3% were also awarded the National Psoriasis Foundation’s Seal of Recognition — the first FDA-approved prescription brand to receive the
Exhibit 99.1 honor. Additionally, the American Academy of Dermatology (AAD) issued a strong recommendation for the use of ZORYVE cream 0.15% in adults with mild to moderate atopic dermatitis, according to updated guidelines released in June 2025. In 2024, ZORYVE cream 0.15% was awarded Glamour’s Beauty and Wellness Award for “Best Eczema Product.” INDICATIONS ZORYVE cream, 0.05%, is indicated for topical treatment of mild to moderate atopic dermatitis in pediatric patients 2 to 5 years of age. ZORYVE cream, 0.15%, is indicated for topical treatment of mild to moderate atopic dermatitis in adult and pediatric patients 6 years of age and older. ZORYVE cream, 0.3%, is indicated for topical treatment of plaque psoriasis, including intertriginous areas, in adult and pediatric patients 2 years of age and older. ZORYVE topical foam, 0.3%, is indicated for the treatment of plaque psoriasis of the scalp and body in adult and pediatric patients 12 years of age and older. ZORYVE topical foam, 0.3%, is indicated for the treatment of seborrheic dermatitis in adult and pediatric patients 9 years of age and older. IMPORTANT SAFETY INFORMATION ZORYVE is contraindicated in patients with moderate to severe liver impairment (Child-Pugh B or C). Flammability: The propellants in ZORYVE foam are flammable. Avoid fire, flame, and smoking during and immediately following application. The most common adverse reactions reported (≥1%) for ZORYVE cream 0.05% for pediatric patients with atopic dermatitis 2 to 5 years of age were upper respiratory tract infection (4.1%), diarrhea (2.5%), vomiting (2.1%), rhinitis (1.6%), conjunctivitis (1.4%), and headache (1.1%).
Exhibit 99.1 The most common adverse reactions reported (≥1%) for ZORYVE cream 0.15% for patients with atopic dermatitis 6 years of age or older were headache (2.9%), nausea (1.9%), application site pain (1.5%), diarrhea (1.5%), and vomiting (1.5%). The most common adverse reactions reported (≥1%) for ZORYVE cream 0.3% for plaque psoriasis were diarrhea (3.1%), headache (2.4%), insomnia (1.4%), nausea (1.2%), application site pain (1.0%), upper respiratory tract infection (1.0%), and urinary tract infection (1.0%). The most common adverse reactions reported (≥1%) for ZORYVE foam 0.3% for plaque psoriasis were headache (3.1%), diarrhea (2.5%), nausea (1.7%), and nasopharyngitis (1.3%). The most common adverse reactions reported (≥1%) for ZORYVE foam 0.3% for seborrheic dermatitis were nasopharyngitis (1.5%), nausea (1.3%), and headache (1.1%). Please see full Prescribing Information for ZORYVE foam and full Prescribing Information for ZORYVE cream. About Arcutis Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical dermatology company delivering meaningful innovation to address the needs of individuals living with chronic inflammatory skin diseases. Over the past decade, Arcutis has successfully developed a robust portfolio of advanced targeted topicals approved to treat three major inflammatory skin diseases, driven by a commitment to solving the most persistent patient challenges in dermatology. Arcutis’ unique dermatology development platform, built on established scientific pathways and coupled with deep clinical dermatology and commercial expertise, enables us to efficiently develop, scale, and deliver our differentiated therapies while advancing a growing pipeline across 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
Exhibit 99.1 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. Such forward-looking statements include, but are not limited to, statements regarding the Company’s financial position and potential growth. These statements 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, 2026, 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