Amicus Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)

BERKELEY, Calif., April 4, 2025 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (Nasdaq: ARVS), a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for inflammatory dermatological and other immune-mediated diseases, today announced that it has granted equity awards to certain new employees under Nasdaq Listing Rule 5635(c).

The inducement grants were made to 11 new employees who joined the company in connection with the acquisition of Clemmons Dermatology, LLC. The awards were made under the Arcutis Biotherapeutics, Inc. Inducement Equity Incentive Plan, which was adopted by the company's board of directors on April 1, 2025.

The inducement grants consisted of stock options to purchase up to 25,000 shares of the company's common stock, with a grant date fair value of $2.50 per share, and restricted stock units ("RSUs") to receive up to 15,000 shares of the company's common stock, with a grant date fair value of $2.50 per share. The stock options and RSUs vest over a period of four years, with 25% vesting on the anniversary of the grant date and the remainder vesting monthly over the remaining three years.

The equity awards were made in connection with the employees' commencement of employment with the company and were intended to reflect the company's commitment to its new employees. The inducement grants were previously approved by the compensation committee of the company's board of directors and were made in accordance with Nasdaq Listing Rule 5635(c).

About Arcutis Biotherapeutics, Inc.

Arcutis Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for inflammatory dermatological and other immune-mediated diseases. The company's lead product candidate, ARQ-151, is a topical cream being developed for the treatment of atopic dermatitis. Arcutis is also developing ARQ-531, a topical cream for the treatment of psoriasis, and ARQ-252, a topical cream for the treatment of vitiligo. For more information, please visit www.arcutisbio.com.