TARS files Rule 144 to sell 27,116 Class A shares valued at $1.55M

Rhea-AI Filing Summary

Tarsus Pharmaceuticals (TARS) reported a Form 144 notice for a proposed sale of insider-held Class A shares. The filer notifies an intended sale of 27,116 Class A shares on Nasdaq, with an aggregate market value of $1,546,000 and approximately 42,214,106 shares outstanding, implying the proposed block represents about 0.064% of outstanding stock. The securities were acquired in a private placement on 12/13/2019 from William Link and were paid for in cash. The intended sale date listed is 09/08/2025. The filer states there are no sales in the past three months and affirms no undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Small insider sale disclosed; not likely material to valuation but worth noting for insider activity tracking.

The filing documents a routine Rule 144 sale notice for 27,116 Class A shares valued at $1.546 million, acquired in a 2019 private placement. Relative to the 42.2 million shares outstanding, the position is roughly 0.064%, indicating limited direct market impact. No sales in the prior three months are reported and the filer affirms no undisclosed material information. This is a standard compliance disclosure under Rule 144 rather than a strategic corporate action.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 requirements; provides transparency on insider-origin and payment method.

The notice identifies the original acquisition as a private placement from an individual (William Link) on 12/13/2019 with cash consideration, and specifies the broker and intended sale date. The attestation about lack of undisclosed material adverse information is standard. From a governance perspective, the filing fulfills required transparency obligations but does not by itself signal governance change or material action by management.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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
Class A	Merrill Lynch 520 Newport Center Dr Ste 20 Newport Beach CA 92660	27116	1546000.00	42214106	09/08/2025	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 *
Class A	12/13/2019	Private Placement	William Link			27116	12/13/2019	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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did TARS file in this Form 144?

The filing notifies an intended sale of 27,116 Class A shares on Nasdaq with an aggregate market value of $1,546,000.

When is the proposed sale date for the shares in the TARS Form 144?

The Form 144 lists the approximate sale date as 09/08/2025.

How and when were the securities being sold originally acquired?

The securities were acquired in a private placement on 12/13/2019 from William Link and paid for in cash.

What portion of TARS outstanding shares does this proposed sale represent?

The filing shows 42,214,106 shares outstanding; 27,116 shares represent about 0.064% of outstanding shares.

Were there any securities sold by the filer in the past three months?

The Form 144 indicates "Nothing to Report" for securities sold during the past three months.