Vanguard Realignment: Tarsus (NASDAQ: TARS) Ownership Reported as 0% by Parent

Rhea-AI Filing Summary

The Vanguard Group filed an Amendment No. 2 to a Schedule 13G/A reporting 0 shares beneficially owned of Tarsus Pharmaceuticals Inc common stock and 0% of the class. The filing explains an internal realignment that caused certain subsidiaries to report ownership separately and is signed on 03/27/2026.

Insights

Institutional Ownership Analyst

Large custodian disaggregated holdings; reported ownership becomes zero post-realignment.

The filing states Amount beneficially owned: 0 and Percent of class: 0% as of the signature date 03/27/2026. This reflects a reporting change where subsidiaries now report separately under SEC Release No. 34-39538.

Practical effect: subsequent filings from Vanguard affiliates may show holdings. Cash-flow treatment or trading intent is not stated; follow-up Schedule 13G/A entries from named subsidiaries will clarify actual custody-level positions.

Securities Compliance Attorney

The amendment documents a compliance-driven disaggregation under an SEC release.

The disclosure cites SEC Release No. 34-39538 and explains that certain Vanguard subsidiaries will report beneficial ownership separately. The filer affirms no beneficial ownership remains aggregated in The Vanguard Group for these shares.

Key compliance note: the statement aligns with disclosure practice for reorganizations; monitor filings by related Vanguard entities for reallocated positions and percent ownership figures.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Tarsus Pharmaceuticals Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87650L103

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 87650L103

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Tarsus Pharmaceuticals Inc
(b)	Address of issuer's principal executive offices: 15440 Laguna Canyon Road, Suite 160, Irvine, CA, 92618
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/27/2026

FAQ

What does The Vanguard Group report about TARS ownership?

The Vanguard Group reports holding 0 shares and 0% of Tarsus common stock. The amendment explains an internal realignment and disaggregation of subsidiaries, signed on 03/27/2026, with subsidiaries to report separately under SEC Release No. 34-39538.

Why does the filing say Vanguard has zero ownership of TARS?

Because of an internal realignment, Vanguard disaggregated certain subsidiaries' holdings. The amendment cites SEC Release No. 34-39538 and states those subsidiaries will report beneficial ownership separately from The Vanguard Group.

When was the Schedule 13G/A amendment signed?

The amendment is signed on 03/27/2026 by Ashley Grim, Head of Global Fund Administration. The signature date appears at the end of the filing and anchors the reported ownership figures.

Does this filing mean no Vanguard affiliate owns TARS shares?

No—the filing only states The Vanguard Group itself reports 0 shares. It also explains that subsidiaries will report separately; related affiliates may file their own Schedule 13G/A entries showing holdings.

Where can I find which Vanguard entity holds TARS shares?

Check subsequent Schedule 13G/A or Form 13F filings by Vanguard subsidiaries or managed accounts. The amendment says subsidiaries will report beneficial ownership separately under the cited SEC release.