Bobak R. Azamian - Mar 15, 2024 Form 4 Insider Report for Tarsus Pharmaceuticals, Inc. (TARS)

Role
President/CEO and Board Chair, Director
Signature
/s/ Jeffrey Farrow, Attorney-in-Fact
Stock symbol
TARS
Transactions as of
Mar 15, 2024
Transactions value $
-$318,699
Form type
4
Date filed
3/19/2024, 07:05 PM
Previous filing
Mar 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TARS Common Stock Options Exercise +28.3K +328.88% 36.9K Mar 15, 2024 Direct F1
transaction TARS Common Stock Sale -$319K -10.4K -28.25% $30.60 26.5K Mar 18, 2024 Direct F2
holding TARS Common Stock 830K Mar 15, 2024 By the Bobak Azamian Living Trust established April 16, 2018 F3

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 -11.3K -33.33% $0.00 22.6K Mar 15, 2024 Common Stock 11.3K Direct F4, F5
transaction TARS Restricted Stock Units Options Exercise $0 -17K -25% $0.00 50.9K Mar 15, 2024 Common Stock 17K Direct F4, 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 Reporting Person is the trustee of the Bobak Azamian Living Trust, established April 16, 2018 and has voting and dispositive power with respect to these shares.
F4 Each RSU represents a contingent right to receive one share of the Issuer's common stock.
F5 RSUs 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.
F6 RSUs granted on March 8, 2023, under the Tarsus Pharmaceuticals, Inc. 2020 Stock Plan. The RSUs will vest in equal installments on March 15, 2024, March 15, 2025, March 15, 2026 and March 15, 2027, subject to the Reporting Person's continuous service.