Tax-driven stock sale by Tarsus (TARS) chief commercial officer

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Tarsus Pharmaceuticals Chief Commercial Officer Aziz Mottiwala reported mandated stock sales tied to tax withholding on vested Restricted Stock Units. Over March 17–19, he sold a total of 13,056 shares of common stock in open-market transactions at prices around $67–$69 per share. According to the footnote, these "sell to cover" trades were required by the company to satisfy tax obligations and were not discretionary investment decisions. After these sales, Mottiwala directly holds 61,480 shares of Tarsus Pharmaceuticals common stock.

Insider Trade Summary

Net Seller: 13,056 shares ($892,528)

Net Sell 3 txns

Insider Mottiwala Aziz

Role Chief Commercial Officer

Sold 13,056 shs ($893K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,440	$67.00	$297K
Sale	Common Stock	4,330	$68.71	$298K
Sale	Common Stock	4,286	$69.42	$298K

Holdings After Transaction: Common Stock — 61,480 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

03/19/2026 - 07:04 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Mottiwala Aziz

(Last)

(First)

(Middle)

C/O TARSUS PHARMACEUTICALS, INC.

15440 LAGUNA CANYON ROAD, SUITE 160

(Street)

IRVINE

CALIFORNIA

92618

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Tarsus Pharmaceuticals, Inc. [ TARS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Commercial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/17/2026		S⁽¹⁾		4,286	D	$69.42	70,250	D
Common Stock	03/18/2026		S⁽¹⁾		4,330	D	$68.71	65,920	D
Common Stock	03/19/2026		S⁽¹⁾		4,440	D	$67	61,480	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. 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 Restricted Stock Units. 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.

Remarks:

	/s/ Jeffrey Farrow, Attorney-in-Fact	03/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider stock transactions did Tarsus (TARS) report for Aziz Mottiwala?

Tarsus reported that Chief Commercial Officer Aziz Mottiwala sold 13,056 shares of common stock over March 17–19. These were open-market sales tied to tax withholding obligations from Restricted Stock Unit vesting, not discretionary investment trades.

Why did Tarsus CCO Aziz Mottiwala sell 13,056 TARS shares?

The sales were executed to cover tax withholding obligations from the vesting and settlement of Restricted Stock Units. The company elected a mandatory "sell to cover" approach, so these transactions did not represent voluntary investment decisions by Mottiwala.

At what prices were Aziz Mottiwala’s recent TARS stock sales executed?

The reported sales occurred at per-share prices of $69.42 on March 17, $68.71 on March 18, and $67.00 on March 19. All transactions involved Tarsus Pharmaceuticals common stock sold in the open market.

How many Tarsus (TARS) shares does Aziz Mottiwala hold after these transactions?

Following the March 19 transaction, Aziz Mottiwala directly holds 61,480 shares of Tarsus Pharmaceuticals common stock. This figure reflects his position after the 13,056 tax-related "sell to cover" shares were sold across the three reported days.

Are Aziz Mottiwala’s recent TARS stock sales considered discretionary trades?

No. The footnote states the sales were mandated by Tarsus Pharmaceuticals’ election to fund tax withholding through a "sell to cover" transaction. As a result, they are characterized as non-discretionary, tax-driven sales rather than active portfolio decisions.