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  4. [Form 4] Tarsus Pharmaceuticals, Inc. Insider Trading Activity

Tarsus (TARS) CEO Azamian sells 10,000 shares via 10b5-1 trading plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Tarsus Pharmaceuticals President and CEO Bobak R. Azamian, through the Bobak Azamian Living Trust, sold a total of 10,000 shares of common stock in open-market transactions on June 17, 2026 under a pre-arranged Rule 10b5-1 trading plan. The trust continues to hold 847,991 shares indirectly, and Azamian also holds 33,421 shares directly, indicating these sales represent a small portion of his overall stake.

Positive

  • None.

Negative

  • None.
Insider Azamian Bobak R.
Role President/CEO and Board Chair
Sold 10,000 shs ($615K)
Type Security Shares Price Value
Sale Common Stock 4,582 $61.24 $281K
Sale Common Stock 5,418 $61.81 $335K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 853,409 shares (Indirect, By the Bobak Azamian Living Trust established April 16, 2018); Common Stock — 33,421 shares (Direct, null)
Footnotes (1)
  1. The sales reported in this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2025. The price reported in column 4 is a weighted average price. The shares were pooled and sold in multiple transactions at prices ranging from $60.51 to $61.50. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. 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. The price reported in column 4 is a weighted average price. The shares were pooled and sold in multiple transactions at prices ranging from $61.52 to $62.13. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Shares sold (tranche 1) 5,418 shares at $61.81 Open-market sale on June 17, 2026
Shares sold (tranche 2) 4,582 shares at $61.24 Open-market sale on June 17, 2026
Total shares sold 10,000 shares Net shares sold per transaction summary
Indirect holdings after sale 847,991 shares Held by Bobak Azamian Living Trust after transactions
Direct holdings after filing 33,421 shares Direct ownership line dated June 17, 2026
Net buy/sell direction 10,000 net shares sold Form 4 transaction summary netBuySellShares
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
voting and dispositive power financial
"The Reporting Person is the trustee of the Bobak Azamian Living Trust ... and has voting and dispositive power with respect to these shares."
open-market sale financial
"transaction_action: open-market sale"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
indirect ownership financial
"ownership_type: indirect; nature_of_ownership: By the Bobak Azamian Living Trust established April 16, 2018"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
X
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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President/CEO and Board Chair
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/17/2026S(1)4,582D$61.24(2)853,409IBy the Bobak Azamian Living Trust established April 16, 2018(3)
Common Stock06/17/2026S(1)5,418D$61.81(4)847,991IBy the Bobak Azamian Living Trust established April 16, 2018(3)
Common Stock33,421D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. The sales reported in this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2025.
2. The price reported in column 4 is a weighted average price. The shares were pooled and sold in multiple transactions at prices ranging from $60.51 to $61.50. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. 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.
4. The price reported in column 4 is a weighted average price. The shares were pooled and sold in multiple transactions at prices ranging from $61.52 to $62.13. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Remarks:
/s/ Jeffrey Farrow, Attorney-in-Fact06/22/2026
** Signature of Reporting PersonDate
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) report for Bobak Azamian?

Bobak R. Azamian reported selling 10,000 Tarsus Pharmaceuticals shares on June 17, 2026 through the Bobak Azamian Living Trust. These were open-market sales disclosed on a Form 4 insider filing.

At what prices did Bobak Azamian sell Tarsus Pharmaceuticals (TARS) shares?

Bobak Azamian’s trust sold 5,418 shares at $61.81 and 4,582 shares at $61.24 weighted average prices. Footnotes state each price reflects multiple trades within disclosed intraday ranges.

How many Tarsus Pharmaceuticals (TARS) shares does Bobak Azamian hold after the reported sales?

After the transactions, the Bobak Azamian Living Trust holds 847,991 Tarsus shares indirectly, while Azamian also holds 33,421 shares directly. This shows he retains a substantial equity position in the company following the 10,000-share sale.

Were Bobak Azamian’s Tarsus Pharmaceuticals (TARS) share sales pre-planned?

Yes. A footnote explains the sales were executed under an automatic Rule 10b5-1 trading plan adopted on December 9, 2025. Such plans schedule trades in advance to help avoid concerns about trading on nonpublic information.

Who controls the Tarsus Pharmaceuticals (TARS) shares held by the Bobak Azamian Living Trust?

The filing states Bobak Azamian is trustee of the Bobak Azamian Living Trust and has voting and dispositive power over those shares, meaning he directs how they are voted and when they are sold.

How significant is Bobak Azamian’s 10,000-share sale of Tarsus Pharmaceuticals (TARS)?

The Form 4 shows 10,000 shares sold while Azamian’s trust and direct holdings together remain much larger. Based on the disclosed post-transaction balances, the sale represents a relatively small portion of his total reported stake.