After $3.8M sale, Tarsus (TARS) ex-officer plans more selling

Rhea-AI Filing Summary

Tarsus Pharmaceuticals, Inc. (TARS) received a Rule 144 notice that former officer Aziz A. Mottiwala plans to sell up to 81,332 shares of common stock, arising from a stock option exercise for cash dated August 25, 2026. The filing lists an aggregate market value of $5,843,886.98 for these shares and states that 43,882,996 shares of common stock are outstanding. The notice also reports that Mottiwala sold 53,043 shares of common stock in the prior three months for $3,842,690.85.

Key Figures

Shares to be sold under Rule 144: 81,332 shares Aggregate market value of shares to be sold: $5,843,886.98 Shares outstanding: 43,882,996 shares +3 more

6 metrics

Shares to be sold under Rule 144 81,332 shares Common stock proposed for sale by Aziz A. Mottiwala

Aggregate market value of shares to be sold $5,843,886.98 Value associated with 81,332 Tarsus common shares

Shares outstanding 43,882,996 shares Tarsus common stock outstanding as referenced in the notice

Shares sold in past 3 months 53,043 shares Common stock sold on August 19, 2026 by Aziz A. Mottiwala

Proceeds from past 3‑month sale $3,842,690.85 Total value for 53,043 shares sold on August 19, 2026

Planned sale date August 25, 2026 Date tied to the proposed sale and option exercise

Key Terms

Rule 144, stock option exercise, aggregate market value

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

stock option exercise financial

"Common | 08/25/2026 | Stock Option Exercise | Issuer"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

aggregate market value financial

"Common | Fidelity Brokerage Services LLC ... | 81332 | 5843886.98"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

What does the Form 144 filing disclose for TARS?

The filing discloses that former officer Aziz A. Mottiwala intends to sell up to 81,332 shares of Tarsus Pharmaceuticals, Inc. common stock under Rule 144, related to a stock option exercise for cash dated August 25, 2026, with an aggregate market value of $5,843,886.98.

How many TARS shares does Aziz A. Mottiwala plan to sell?

Aziz A. Mottiwala plans to sell up to 81,332 shares of Tarsus Pharmaceuticals, Inc. common stock. These shares are tied to a stock option exercise for cash dated August 25, 2026, as reported in the Form 144 notice.

What is the reported market value of the TARS shares to be sold?

The Form 144 reports an aggregate market value of $5,843,886.98 for the 81,332 shares of Tarsus Pharmaceuticals, Inc. common stock that are proposed to be sold under Rule 144.

How many TARS shares are outstanding according to this filing?

According to the filing, Tarsus Pharmaceuticals, Inc. has 43,882,996 shares of common stock outstanding. This figure is provided as context for the proposed Rule 144 sale and is not the amount being sold.

What TARS stock sales were reported over the past three months?

Over the past three months, the notice reports that Aziz A. Mottiwala sold 53,043 shares of Tarsus Pharmaceuticals, Inc. common stock on August 19, 2026, for total proceeds of $3,842,690.85.

Who is the broker involved in the planned TARS share sale?

The broker listed for the planned sale of Tarsus Pharmaceuticals, Inc. shares is Fidelity Brokerage Services LLC, located in Smithfield, Rhode Island, as stated in the Form 144 filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/25/2026 - 04:20 PM Accepted by SEC EDGAR 08/25/2026 - 04:19 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001788542
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Tarsus Pharmaceuticals, Inc.
SEC File Number	001-39614
Address of Issuer	15440 LAGUNA CANYON ROAD IRVINE CALIFORNIA 92618
Phone	(949) 409-9820
Name of Person for Whose Account the Securities are To Be Sold	Mottiwala Aziz
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Former Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	81332	5843886.98	43882996	08/25/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/25/2026	Stock Option Exercise	Issuer			81332	08/25/2026	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Aziz A. Mottiwala 17700 Laguna Canyon Road Floor 4 Irvine CA 92618	Common	08/19/2026	53043	3842690.85

144: Remarks and Signature

Remarks
Date of Notice	08/25/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Daniel Tucci, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Aziz Mottiwala
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)