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

Rhea-AI Filing Summary

Tarsus Pharmaceuticals (TARS) reporting person Bobak R. Azamian, who serves as President/CEO and Board Chair, disclosed insider transactions on a Form 4. On 09/24/2025 the reporting person sold 6,000 shares of common stock in automatic transactions under a Rule 10b5-1 trading plan adopted December 12, 2024, at a weighted average price of $55.37 (sales ranged from $55.19 to $55.93). After the reported transactions the filing shows 812,106 shares beneficially owned indirectly (held in the Bobak Azamian Living Trust, of which he is trustee with voting and dispositive power) and 53,635 shares shown as disposed on a separate line. The Form 4 is signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Transaction conducted under a Rule 10b5-1 plan, indicating preplanned sales and reducing concerns about opportunistic insider timing
• Clear disclosure of indirect ownership and trustee role for the Bobak Azamian Living Trust, including voting and dispositive power
• Weighted average sale price disclosed and seller offers to provide per-trade price details on request, supporting transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine, preplanned insider sale under a 10b5-1 plan; modest volume relative to reported holdings.

The Form 4 documents a sale of 6,000 shares executed pursuant to a Rule 10b5-1 plan adopted on December 12, 2024. The sale price is a weighted average of $55.37 with transactions between $55.19 and $55.93. These details indicate the trades were prearranged and not opportunistic market timing by the reporting person. The reporting person retains substantial indirect ownership (812,106 shares) through a living trust, and the filing discloses voting and dispositive power. From a market-impact perspective, the disclosed sale size appears small versus the reported indirect holdings.

Corporate Governance Expert

TL;DR: Disclosure follows standard governance practice; trustee status and 10b5-1 plan are clearly stated.

The Form 4 provides governance-relevant details: the reporting person is President/CEO and Board Chair and is the trustee of a living trust holding the majority of disclosed indirect shares. The filing explicitly states the sale was effected under a Rule 10b5-1 plan, and the filer offers to supply detailed price-by-price information upon request, which supports transparency. The signature by an attorney-in-fact is noted and dated 09/26/2025, consistent with procedural execution of SEC filing requirements.

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).

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 CA 92618

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

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

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

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

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	09/24/2025		S(1)		6,000	D	$55.37(2)	812,106	I	By the Bobak Azamian Living Trust established April 16, 2018(3)
Common Stock								53,635	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 12, 2024.

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 $55.19 to $55.93. 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.

Remarks:

	/s/ Jeffrey Farrow, Attorney-in-Fact	09/26/2025
	** 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.

FAQ

What insider transaction did Bobak R. Azamian report for TARS?

The Form 4 reports a sale of 6,000 shares of TARS common stock on 09/24/2025 effected under a Rule 10b5-1 trading plan.

At what price were the TARS shares sold in the Form 4?

The filing reports a weighted average price of $55.37 for the shares sold, with individual trade prices ranging from $55.19 to $55.93.

How many TARS shares does Azamian beneficially own after the reported transactions?

The Form 4 shows 812,106 shares beneficially owned indirectly through the Bobak Azamian Living Trust; a separate line lists 53,635 shares as disposed.

Was the sale discretionary or preplanned?

The sale was executed automatically under a Rule 10b5-1 trading plan adopted by the reporting person on December 12, 2024.

Who signed the Form 4 filing for Azamian?

The Form 4 is signed by Jeffrey Farrow, Attorney-in-Fact and dated 09/26/2025.