WILLIAM J. LINK PHD - 11 May 2023 Form 4 Insider Report for Tarsus Pharmaceuticals, Inc. (TARS)

Role
Director
Signature
/s/ Kim Norman, Attorney-in-Fact
Issuer symbol
TARS
Transactions as of
11 May 2023
Net transactions value
$0
Form type
4
Filing time
15 May 2023, 17:57:25 UTC
Previous filing
17 Mar 2023
Next filing
30 May 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 Other $0 -215,576 -100% $0.000000* 0 11 May 2023 By Flying L Investments XI, LLC F1, F2
transaction TARS Common Stock Other $0 +41,219 +60% $0.000000 109,892 11 May 2023 By Flying L Partners XI, LLC F3, F4
holding TARS Common Stock 134,632 11 May 2023 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents an in-kind pro-rata distribution, and not a purchase or sale, without additional consideration by Flying L Investments XI, LLC to its partners pursuant to a 10b5-1 plan entered into by Flying L Investments XI, LLC on May 19, 2022.
F2 The shares are held directly held by Flying L Investments XI, LLC. The Reporting Person is the manager of Flying L Investments XI, LLC and may be deemed to have sole voting and investment power over the shares. The Reporting Person disclaims beneficial ownership of the shares except to the extent of any pecuniary interest therein.
F3 Represents the receipt of shares from a pro-rata in-kind distribution, and not a purchase or sale, without additional consideration by Flying L Investments XI, LLC to its partners.
F4 The shares are held directly held by Flying L Partners XI, LLC. The Reporting Person is the manager of Flying L Partners XI, LLC and may be deemed to have sole voting and investment power over the shares. The Reporting Person disclaims beneficial ownership of the shares except to the extent of any pecuniary interest therein.