Leonard M. Greenstein - Mar 15, 2023 Form 4 Insider Report for Tarsus Pharmaceuticals, Inc. (TARS)

Role: Chief Financial Officer
Signature: /s/ Leonard M. Greenstein
Stock symbol: TARS
Transactions as of: Mar 15, 2023
Transactions value $: -$71,404
Form type: 4
Date filed: 3/17/2023, 06:04 PM
Previous filing: Mar 10, 2023
Next filing: Mar 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TARS	Common Stock	Options Exercise		+4.46K	+13.01%		38.8K	Mar 15, 2023	Direct	F1
transaction	TARS	Common Stock	Sale	-$4.2K	-313	-0.81%	$13.43	38.4K	Mar 16, 2023	Direct	F2
transaction	TARS	Common Stock	Sale	-$67.2K	-5K	-13.01%	$13.44	33.4K	Mar 16, 2023	Direct	F3, F4

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	-4.46K	-25%	$0.00	13.4K	Mar 15, 2023	Common Stock	4.46K		Direct	F5, F6

* 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	The sales reported in this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 14, 2022.
F4	The price reported in column 4 is a weighted average price. The shares were pooled and sold in multiple transactions at prices ranging from $13.28 to $13.65. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5	Each RSU represents a contingent right to receive one share of the Company's common stock.
F6	RSU granted on March 9, 2022, under the Tarsus Pharmaceuticals, Inc. 2020 Stock Plan. The RSUs will vest in equal installments on March 15, 2023, March 15, 2024, March 15, 2025 and March 15, 2026, subject to the Reporting Person's continuous service.