Bryan Wahl - 15 Mar 2023 Form 4 Insider Report for Tarsus Pharmaceuticals, Inc. (TARS)

Role: General Counsel
Signature: /s/ Leonard M. Greenstein, Attorney-in-Fact
Issuer symbol: TARS
Transactions as of: 15 Mar 2023
Net transactions value: -$4,526
Form type: 4
Filing time: 17 Mar 2023, 18:21:16 UTC
Previous filing: 10 Mar 2023
Next filing: 21 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TARS	Common Stock	Options Exercise		+4,790	+35%		18,513	15 Mar 2023	Direct	F1
transaction	TARS	Common Stock	Sale	$4,526	-337	-1.8%	$13.43	18,176	16 Mar 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TARS	Restricted Stock Units	Options Exercise	$0	-4,790	-25%	$0.000000	14,370	15 Mar 2023	Common Stock	4,790		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares were issued pursuant to settlement of vested Restricted Stock Units ("RSUs").
F2	The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale is mandated by the Issuer's election to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person.
F3	Each RSU represents a contingent right to receive one share of the Company's common stock.
F4	RSU granted on March 9, 2022, under the Tarsus Pharmaceuticals, Inc. 2020 Stock Plan. 25% of the RSUs will vest on March 15th of each of 2023, 2024, 2025, and 2026, subject to the Reporting Person's continuous service.