Arcutis Biotherapeutics, Inc. 10-K

Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information for Common Stock Our common stock has been publicly traded on the Nasdaq Global Select Market under the symbol “ARQT” since the commencement of our IPO on January 31, 2020. Prior to that time there was no public market for our common stock. Holders As of February 19, 2025, there were approximately 61 holders of record of our common stock. The actual number of stockholders is greater than this number of record holders, and includes stockholders who are beneficial owners, but whose shares are held in street name by brokers and other nominees. This number of holders of record also does not include stockholders whose shares may be held in trust by other entities. Recent Sales of Unregistered Securities None. Purchases of Equity Securities by the Issuer and Affiliated Purchasers None. Dividend Policy We have never declared or paid cash dividends on our common stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, operating results, capital requirements, general business conditions and other factors that our board of directors may deem relevant. 97 Table of Contents Index to Financial Statement s Stock Performance Graph The graph below shows a comparison, from January 31, 2020 (the date our common stock commenced trading on Nasdaq) through December 31, 2024, of the cumulative total return to stockholders of our common stock relative to the Nasdaq Composite Index (^IXIC) and the Nasdaq Biotechnology Index (^NBI). The graph assumes that $100 was invested in each of our common stock, the Nasdaq Composite and the Nasdaq Biotechnology at their respective closing prices on January 31, 2020 and assumes reinvestment of gross dividends. The stock price performance shown in the graph represents past performance and should not be considered an indication of future stock price performance. This graph shall not be deemed “soliciting material” or be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. Cumulative Total Return Comparison 1/31/2020 (Inception) 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 Arcutis Biotherapeutics, Inc. $100.00 $129.04 $95.14 $67.89 $14.82 $63.90 Nasdaq Composite Index $100.00 $140.84 $170.97 $114.38 $164.04 $211.03 Nasdaq Biotechnology Index $100.00 $133.14 $132.30 $117.87 $122.27 $120.60 Item 6. RESERVED 98 Table of Contents Index to Financial Statement s