{"id":746093,"date":"2023-04-07T16:03:14","date_gmt":"2023-04-07T20:03:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/"},"modified":"2023-04-07T16:03:14","modified_gmt":"2023-04-07T20:03:14","slug":"arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/","title":{"rendered":"Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">WESTLAKE VILLAGE, Calif., April  07, 2023  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wvEV53a0Nf-DVqtSMvdIUDIifrhAI3buJchgSrg-s2qkRVAyhHyjYYYCp_GrLiuoYXIUixzRENWoca9IZeGOvih7I4O6rwT-J6OKUYCVsXU=\" rel=\"nofollow noopener\" target=\"_blank\"><u>Arcutis Biotherapeutics, Inc.<\/u><\/a>\u00a0(Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 83,250 restricted stock units of Arcutis\u2019 common stock as well as options to purchase an aggregate of 33,000 shares of Arcutis\u2019 common stock to 10 newly hired employees. These awards were approved by the Compensation Committee of Arcutis\u2019 Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of April 3, 2023, as an inducement material to the new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).<\/p>\n<p>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. The stock options vest over four years, with 25 percent vesting on the one-year anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Arcutis as of such vesting dates. The stock options have a ten-year term and an exercise price of $11.15 per share, equal to the per share closing price of Arcutis\u2019 common stock as reported by Nasdaq on April 3, 2023.<\/p>\n<p>Arcutis is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).<\/p>\n<p>\n        <strong>About Arcutis<\/strong><br \/>\n        <br \/>Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is an early 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 that harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis\u2019 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, seborrheic dermatitis, and alopecia areata. For more information, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=8ickhVhwaqu8XpQqI5ivvNkkzxBo_YeygA8NUNdbdao5HLtzU0jB96izxEKBbD0NYipCaUeI1ggKyzXbQRE7pA==\" rel=\"nofollow noopener\" target=\"_blank\">www.arcutis.com<\/a>\u00a0or follow Arcutis on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=eFAWW7NzGk4l_NT8dVeT4ie6uWMIJRoUQBxKfWTSGweDvKe2RMncB6WWAmWIRKbcYC8-m7js6Lgrd2vV8LmySCOk5V3yqdCGM-hdibCAAR2CPlN8_v2s-P8iafCdhTw0\" rel=\"nofollow noopener\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=o4Il4BZKqH7vaMykGAC5a7ot64JwmO9tszQvCB_lfCtQAoK-WZD1k5dhuI5DkleGIFeEvsCblUEDD6g4hQSP12QQ1U4homtV7xVOXvk-FTTRCTa0WCxhWnwuAxFznnD4\" rel=\"nofollow noopener\" target=\"_blank\">Facebook<\/a>, and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tcHWPnITmkrOIjvZRdvSTttnfgSD17lPveoNzaMX40Zu_QIp2vNHsxME_KMDmDMmqFlJdShTNikuddtyAajCPQ==\" rel=\"nofollow noopener\" target=\"_blank\">Twitter<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>This press release contains \u201cforward-looking\u201d statements, including, among others, statements regarding its potential to address urgent needs and expectations with regard to the timing of data and regulatory events. 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 \u201cRisk Factors\u201d section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 28, 2023, 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.<\/p>\n<p>\n        <strong>Contacts:<\/strong><br \/>\n        <br \/>\n        <strong><br \/>\n          <em><br \/>\n            <u>Media<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <br \/>Amanda Sheldon, Head of Corporate Communications<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jBxYb4OAUu5cQT8w9TWu1RMTaEWeS3YBVmFLd5jmL4EtbJAYrkcewxG5O6aUqZIdBvgJtWKCUQbquIveVseu4Lyy8kuQgmxBISwkjoAWIoc=\" rel=\"nofollow noopener\" target=\"_blank\">asheldon@arcutis.com<\/a><\/p>\n<p>\n        <strong><br \/>\n          <em><br \/>\n            <u>Investors<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <br \/>Eric McIntyre, Head of Investor Relations<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9u2fvJCgYpl78_N2pFGyit0BL9Q2geToivNUjSE805kCKxN6CObsLMaQLNF0hrXWL_AAjBSL_6P2Q7cpOnGrlYCiuc9iFh3jnfbV8DOuOOA=\" rel=\"nofollow noopener\" target=\"_blank\">emcintyre@arcutis.com<\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwNDE1MiM1NTE2MDE0IzIxOTQwNTA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NTY5NWQ2MWItODNiMi00NDIyLTgyMTYtMjRhZGFlMmUyZDNkLTEyMDU2MDM=\/tiny\/Arcutis-Biotherapeutics-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>WESTLAKE VILLAGE, Calif., April 07, 2023 (GLOBE NEWSWIRE) &#8212; Arcutis Biotherapeutics, Inc.\u00a0(Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 83,250 restricted stock units of Arcutis\u2019 common stock as well as options to purchase an aggregate of 33,000 shares of Arcutis\u2019 common stock to 10 newly hired employees. These awards were approved by the Compensation Committee of Arcutis\u2019 Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of April 3, 2023, 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, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-746093","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"WESTLAKE VILLAGE, Calif., April 07, 2023 (GLOBE NEWSWIRE) &#8212; Arcutis Biotherapeutics, Inc.\u00a0(Nasdaq: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, today reported the grant of an aggregate of 83,250 restricted stock units of Arcutis\u2019 common stock as well as options to purchase an aggregate of 33,000 shares of Arcutis\u2019 common stock to 10 newly hired employees. These awards were approved by the Compensation Committee of Arcutis\u2019 Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of April 3, 2023, as an inducement material to the new employees entering into employment with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4). 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These awards were approved by the Compensation Committee of Arcutis\u2019 Board of Directors and granted under the Arcutis Biotherapeutics, Inc. 2022 Inducement Plan, with a grant date of April 3, 2023, 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, &hellip; Continue reading \"Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-07T20:03:14+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwNDE1MiM1NTE2MDE0IzIxOTQwNTA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)","datePublished":"2023-04-07T20:03:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/"},"wordCount":608,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwNDE1MiM1NTE2MDE0IzIxOTQwNTA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/arcutis-biotherapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-10\/","name":"Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - 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