Tarsus (NASDAQ: TARS) CMO sells shares to cover RSU tax withholding

Rhea-AI Filing Summary

Tarsus Pharmaceuticals Chief Medical Officer Elizabeth Yeu reported mandated share sales to cover taxes from vesting restricted stock units. Over March 17–19, she sold a total of 1,144 shares of common stock in open-market transactions, including 390 shares at $67.0000 per share and 379 shares at $68.7100 per share.

According to the disclosure, these “sell to cover” trades were required under the company’s tax withholding election and were not discretionary. After the transactions, Yeu directly held 23,308 common shares, with additional indirect holdings of 6,360 shares through her spouse’s Roth IRA and 12,040 shares through a 401(k) plan.

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

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OMB Number:			3235-0287
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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^*

Lin Elizabeth Yeu

(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 Medical 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/17/2026		S(1)		375	D	$69.42	24,077	D
Common Stock	03/18/2026		S(1)		379	D	$68.71	23,698	D
Common Stock	03/19/2026		S(1)		390	D	$67	23,308	D
Common Stock								6,360	I	By Spouse's Roth IRA
Common Stock								12,040	I	By 401(k) Plan

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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)

FAQ

What insider transaction did Tarsus (TARS) report for CMO Elizabeth Yeu?

Tarsus reported that Chief Medical Officer Elizabeth Yeu sold 1,144 common shares. These open-market sales occurred over March 17–19 to fund tax withholding on newly vested restricted stock units under a mandated “sell to cover” arrangement.

Were Elizabeth Yeu’s TARS share sales discretionary or pre-mandated?

The sales were not discretionary. The filing explains they were mandated by Tarsus’s election to satisfy tax withholding obligations through a “sell to cover” transaction tied to restricted stock unit vesting and settlement, rather than elective selling by Yeu.

At what prices did Tarsus CMO Elizabeth Yeu sell TARS shares?

Elizabeth Yeu’s reported open-market sales included 390 Tarsus common shares at $67.0000 per share and 379 shares at $68.7100 per share. These sales formed part of the 1,144-share total used to cover tax withholding obligations on vested restricted stock units.

How many TARS shares does Elizabeth Yeu hold after the reported transactions?

After the reported tax-related sales, Elizabeth Yeu directly holds 23,308 Tarsus common shares. She also has indirect ownership of 6,360 shares through her spouse’s Roth IRA and 12,040 shares through a 401(k) plan, as disclosed in the Form 4 filing.

What type of equity award triggered Elizabeth Yeu’s TARS share sales?

The share sales were triggered by the vesting and settlement of restricted stock units. Tarsus elected to satisfy related tax withholding obligations via a mandated “sell to cover” transaction, leading to the 1,144 common shares sold in open-market trades.