David Moatazedi - Feb 21, 2024 Form 4 Insider Report for Evolus, Inc. (EOLS)

Signature
/s/ Jeffrey J. Plumer, as attorney-in-fact for David Moatazedi
Stock symbol
EOLS
Transactions as of
Feb 21, 2024
Transactions value $
-$100,804
Form type
4
Date filed
2/23/2024, 08:27 PM
Previous filing
Feb 9, 2024
Next filing
Mar 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EOLS Common Stock Award $0 +61.2K +8.28% $0.00 800K Feb 21, 2024 Direct F1
transaction EOLS Common Stock Sale -$101K -7.71K -0.96% $13.08 792K Feb 22, 2024 Direct F2
* 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 shares issuable on settlement of performance restricted stock units ("PSUs") granted to the reporting person in January 2023. The Issuer's Compensation Committee certified that the reporting person had achieved the set corporate development goal as of December 20, 2023. One-third of the PSU (20,401 shares) was delivered on February 21, 2024 after certification of the milestone being achieved. The remaining two-thirds will vest annually on the anniversary of December 20, 2023 provided the reporting person remains in continuous service on each vesting date, subject to accelerated vesting in certain events, including certain terminations of the reporting person or upon certain changes of control of the issuer.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person and represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of the PSUs.

Remarks:

President & CEO