Bryan Wahl - 29 Nov 2022 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
29 Nov 2022
Net transactions value
-$39,016
Form type
4
Filing time
01 Dec 2022, 18:58:51 UTC
Previous filing
11 Mar 2022
Next filing
06 Dec 2022
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 $0 +10,251 +147% $0.000000 17,224 29 Nov 2022 Direct F1, F2
transaction TARS Common Stock Sale $19,520 -1,183 -6.9% $16.50 16,041 30 Nov 2022 Direct F3
transaction TARS Common Stock Sale $19,497 -1,164 -7.3% $16.75 14,877 01 Dec 2022 Direct 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 -10,251 -30% $0.000000 23,920 29 Nov 2022 Common Stock 10,251 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person received restricted stock units ("RSUs") which represent a contingent right to receive one share of Issuer's Common Stock for each RSU. This reported transaction represents the settlement of RSUs vested as of November 29, 2022.
F2 Includes 862 shares acquired under the Issuer's employee stock purchase plan on December 31, 2021, and includes 1,111 shares acquired under the Issuer's employee stock purchase plan on June 30, 2022.
F3 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.
F4 RSU granted under the Tarsus Pharmaceuticals, Inc. 2020 Stock Plan. The RSUs will vest 30% on November 29, 2022, and 70% on November 29, 2023, subject to the Reporting Person's continuous service.