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

Rhea-AI Filing Summary

William J. Link, a director of Tarsus Pharmaceuticals, Inc. (TARS), filed a Form 4 reporting a transaction dated 09/16/2025. The Form shows a disposition of 2,000 shares of common stock (transaction code G) at a reported price of $0. After the reported transaction, the filing states Mr. Link beneficially owns 141,332 shares directly and 10,446 shares indirectly through Link Family Enterprise, LP, of which he may be the controlling member. The form was signed by an attorney-in-fact on 09/18/2025.

Positive

• Accurate disclosure of insider transaction and post-transaction holdings
• Indirect ownership through Link Family Enterprise, LP is explicitly reported

Negative

• Disposition reported at $0 without additional explanation in the filing
• Transaction code "G" is shown but the filing does not define the code within the document

Insights

Corporate Governance Expert

TL;DR: Director reported a small disposition and retains substantial direct and indirect holdings.

The filing documents a disposal of 2,000 common shares on 09/16/2025 recorded with transaction code "G" and a reported price of $0. It also discloses continuing beneficial ownership of 141,332 shares directly and 10,446 shares indirectly via Link Family Enterprise, LP, which the reporting person may control. From a governance perspective, the filing shows appropriate Section 16 disclosure of insider activity and identifies indirect ownership through an affiliated entity. The filing was executed by an attorney-in-fact on 09/18/2025.

Securities Analyst

TL;DR: Small, clearly disclosed insider disposal; reported holdings remain documented.

The Form 4 provides a concise record of insider activity: a disposition of 2,000 shares (code G) with a reported price of $0, followed by stated direct ownership of 141,332 shares and indirect ownership of 10,446 shares through Link Family Enterprise, LP. The report is limited to ownership and transaction mechanics; it contains no pricing explanation beyond the $0 entry. For investors monitoring insider activity, this filing updates the exact post-transaction share counts and the presence of an affiliated limited partnership holding.

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
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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).

1. Name and Address of Reporting Person^*

LINK WILLIAM J PHD

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		G		2,000	D	$0	141,332	D
Common Stock								10,446	I	By Link Family Enterprise, LP(1)

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 Reporting Person may be deemed to beneficially own the shares indirectly by reason of the Reporting Person as the controlling member of Link Family Enterprise, LP.

Remarks:

	/s/ Scott Sieckert, Attorney-in-Fact	09/18/2025
	** 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 transaction did William J. Link report on the Form 4 for TARS?

The Form 4 reports a disposition of 2,000 shares of common stock dated 09/16/2025 (transaction code G) at a reported price of $0.

How many TARS shares does William J. Link beneficially own after the reported transaction?

Following the reported transaction, the filing states 141,332 shares are beneficially owned directly and 10,446 shares indirectly via Link Family Enterprise, LP.

What is the relationship of the reporting person to Tarsus Pharmaceuticals (TARS)?

The Form 4 identifies William J. Link as a Director of Tarsus Pharmaceuticals, Inc.

When was the Form 4 signed and by whom?

The filing bears a signature by /s/ Scott Sieckert, Attorney-in-Fact dated 09/18/2025.

Does the Form 4 explain the nature of the indirect ownership?

The filing states the indirect ownership is through Link Family Enterprise, LP and notes the reporting person may be deemed to beneficially own those shares as the controlling member; no further details are provided.