Arcutis Biotherapeutics Launches Stock Option Exchange Program

Arcutis Biotherapeutics (ARQT) has released an update.

Arcutis Biotherapeutics, Inc. recently concluded a stock option exchange program, allowing employees and select consultants to swap stock options for new restricted stock units (RSUs) at varying exchange ratios based on the option exercise prices. With an overwhelming 98% participation rate, the program replaced options for about 5 million shares with approximately 2.1 million RSUs under the 2020 Equity Incentive Plan. The new RSUs, subject to a fresh vesting schedule, aim to realign employee interests with current market values following a dip in Arcutis’s stock prices.

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