FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Smither John W 2. Issuer Name and Ticker or Trading Symbol Arcutis Biotherapeutics, Inc. [ ARQT ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Financial Officer
(Last)         (First)         (Middle)
C/O ARCUTIS BIOTHERAPEUTICS, INC., 2945 TOWNSGATE ROAD, SUITE 110
3. Date of Earliest Transaction (MM/DD/YYYY)
6/11/2020
(Street)
WESTLAKE VILLAGE, CA 91361
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  6/11/2020    M(1)    14875  A $1.6806  123840 (2) D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)  $1.6806  6/11/2020    M (1)       14875    (3) 5/14/2029  Common Stock  14875  $0  110080  D   

Explanation of Responses:
(1)  Reflects cash exercise of stock option without the disposition of the underlying shares.
(2)  Includes 9,000 Restricted Stock Units ("RSUs"). The RSUs vest annually in equal installments over a period of 4 years commencing on the grant date, so that 100% of the RSUs become fully vested on February 27, 2024.
(3)  The option vests as to 1/4 of the total shares on May 1, 2020, and then 1/48 of the total shares vest monthly thereafter, with 100% of the total shares vested and exercisable on May 1, 2023, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Smither John W
C/O ARCUTIS BIOTHERAPEUTICS, INC.
2945 TOWNSGATE ROAD, SUITE 110
WESTLAKE VILLAGE, CA 91361


Chief Financial Officer

Signatures
/s/ John W. Smither 6/15/2020
**Signature of Reporting Person Date
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