Are the Tarsus (TARS) CEO’s share sales part of a broader options or derivative exercise?

The reported transactions involve only common stock sales associated with restricted stock unit vesting. The filing’s derivative summary shows no option or other derivative exercises, indicating the activity was limited to shares sold to satisfy tax withholding obligations.

Tarsus Pharmaceuticals (TARS) CEO sells 34,603 shares to cover taxes

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Tarsus Pharmaceuticals, Inc. President, CEO and Board Chair Bobak R. Azamian reported selling 34,603 shares of common stock in open-market transactions over three days at prices ranging from $67.00 to $69.42 per share. These sales were executed solely to cover tax withholding obligations tied to the vesting and settlement of restricted stock units under a mandated "sell to cover" arrangement, rather than as discretionary trades.

Following the transactions, he directly holds 33,421 common shares. He also serves as trustee of the Bobak Azamian Living Trust, which holds an additional 857,991 common shares over which he has voting and dispositive power.

Insider Trade Summary

Net Seller: 34,603 shares ($2,364,904)

Net Sell 4 txns

Insider Azamian Bobak R.

Role President/CEO and Board Chair

Sold 34,603 shs ($2.36M)

Type	Security	Shares	Price	Value
Sale	Common Stock	11,964	$67.00	$802K
Sale	Common Stock	11,667	$68.71	$802K
Sale	Common Stock	10,972	$69.42	$762K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 33,421 shares (Direct); Common Stock — 857,991 shares (Indirect, By the Bobak Azamian Living Trust established April 16, 2018)

Footnotes (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. 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.

Form 4 Insider Transactions: What Each Field Means →

03/19/2026 - 07:03 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^*

Azamian Bobak R.

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President/CEO and Board Chair

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⁾		10,972	D	$69.42	57,052	D
Common Stock	03/18/2026		S⁽¹⁾		11,667	D	$68.71	45,385	D
Common Stock	03/19/2026		S⁽¹⁾		11,964	D	$67	33,421	D
Common Stock								857,991	I	By the Bobak Azamian Living Trust established April 16, 2018⁽²⁾

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.

2. 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.

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 transaction did Tarsus Pharmaceuticals (TARS) disclose for its CEO?

Tarsus Pharmaceuticals reported that President and CEO Bobak R. Azamian sold 34,603 shares of common stock. The transactions were open-market sales used to fund tax withholding obligations triggered by vesting and settlement of restricted stock units under a mandated sell-to-cover arrangement.

At what prices did the Tarsus (TARS) CEO sell his common stock shares?

Bobak R. Azamian sold Tarsus common stock at prices between $67.00 and $69.42 per share. Individual trades included shares at $67.00, $68.71, and $69.42, reflecting market transactions executed over three consecutive trading days.

Why did the Tarsus (TARS) CEO sell 34,603 shares of common stock?

The CEO’s sales were made to cover tax withholding obligations from vesting and settlement of restricted stock units. The company required these obligations to be satisfied through a sell-to-cover transaction, so the sales did not represent discretionary trading decisions by the executive.

How many Tarsus (TARS) shares does the CEO hold after these transactions?

After the reported sales, Bobak R. Azamian directly owns 33,421 Tarsus common shares. In addition, as trustee of the Bobak Azamian Living Trust, he has voting and dispositive power over 857,991 more shares held indirectly through that trust.

How many total shares did the Tarsus (TARS) CEO sell in this Form 4 filing?

Across three open-market transactions, the CEO sold 34,603 Tarsus common shares. The trades occurred on separate days, with 10,972, 11,667, and 11,964 shares sold respectively, all tied to tax withholding from restricted stock unit vesting.