{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-24-005061","form_type":"8-K","ticker":"ARQT","cik":"0001787306","company_name":"Arcutis Biotherapeutics, Inc.","filed_at":"2024-02-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.534545+00:00","generated_at":"2026-06-06T01:24:38.521488+00:00","sec_items":["5.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Arcutis completes stock option exchange; 98% of eligible options surrendered for 2.13M new RSUs","bullets":["Options to purchase 5.06M shares surrendered (~98% of eligible); 2.13M new RSUs issued.","CEO Todd Franklin Watanabe surrendered 584,500 options, received 264,882 new RSUs.","Executive officers participated; non-employee directors excluded. Exchange ratios 2:1, 2.5:1, 3:1 based on exercise price.","New RSUs vest quarterly over 1-3 years starting Feb 1, 2024, subject to continued service.","Surrendered options had exercise prices significantly above recent trading price."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-24-005061","json":"https://secwatch.observer/filing/0001628280-24-005061.json","markdown":"https://secwatch.observer/filing/0001628280-24-005061.md","text":"https://secwatch.observer/filing/0001628280-24-005061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1787306/000162828024005061/0001628280-24-005061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1787306/000162828024005061/arqt-20240212.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T01:24:38.521488+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}