---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-001150"
form_type: "8-K"
ticker: "ARQT"
cik: "0001787306"
company_name: "Arcutis Biotherapeutics, Inc."
filed_at: "2024-01-11T23:59:59+00:00"
generated_at: "2026-06-07T00:37:00.646143+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Arcutis announces voluntary option exchange program for underwater stock options

## Summary
- Eligible employees/consultants can exchange options with exercise price >=$10.00 for fewer RSUs.
- Exchange ratios: 2:1 for $10-$19.99, 2.5:1 for $20-$27.49, 3:1 for $27.50+.
- Offer open Jan 16 to Feb 12, 2024; RSUs vest over 1-3 years starting May 1, 2024.
- Replacement RSU vesting schedule depends on original option grant date (2020 or earlier: 1yr; 2021-2022: 2yr; 2023+: 3yr).
- Program aims to retain talent, align interests, and reduce overhang of underwater options.

## SEC filing metadata
- accession: 0001628280-24-001150
- form_type: 8-K
- ticker: ARQT
- cik: 0001787306
- company_name: Arcutis Biotherapeutics, Inc.
- filed_at: 2024-01-11T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1787306/000162828024001150/0001628280-24-001150-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1787306/000162828024001150/arqt-20240111.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-001150
- JSON: https://secwatch.observer/filing/0001628280-24-001150.json
- Plain text: https://secwatch.observer/filing/0001628280-24-001150.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.