Form 4: Tarsus CEO Sells Shares for Tax Obligations

Tarsus Pharmaceuticals CEO Bobak R. Azamian sold shares to cover tax withholding obligations related to RSU vesting, not a discretionary sale.

Summary

• Bobak R. Azamian, President/CEO and Board Chair of Tarsus Pharmaceuticals, Inc., reported sales of common stock.
• The sales occurred on March 17, 2026, March 18, 2026, and March 19, 2026.
• A total of 10,972 shares were sold at $69.42 on March 17, 2026.
• An additional 11,667 shares were sold at $68.71 on March 18, 2026.
• Finally, 11,964 shares were sold at $67.00 on March 19, 2026.
• These transactions were non-discretionary 'sell to cover' sales, mandated by the issuer to satisfy tax withholding obligations arising from the vesting and settlement of Restricted Stock Units.
• Following these transactions, Mr. Azamian directly beneficially owns 33,421 shares of common stock.
• Mr. Azamian also indirectly beneficially owns 857,991 shares through the Bobak Azamian Living Trust, established April 16, 2018, for which he is the trustee with voting and dispositive power.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. 'Sell to cover' transactions are routine for executives to manage tax liabilities on vested equity and do not typically reflect a change in sentiment towards the company's future performance.

Management Comments

• 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.

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions are a common and routine occurrence for executives receiving equity compensation. These sales are typically pre-scheduled and non-discretionary, designed solely to meet tax liabilities upon the vesting of restricted stock units or options, rather than signaling a change in management's outlook on the company's prospects.

Related Party Transactions

• Bobak R. Azamian indirectly beneficially owns 857,991 shares through the Bobak Azamian Living Trust, established April 16, 2018, for which he is the trustee and holds voting and dispositive power.

Stakeholder Impact

• Shareholders: Minimal direct impact as 'sell to cover' transactions are routine and non-discretionary, not signaling a change in company fundamentals or management's confidence.
• Employees: No direct impact indicated by this filing.

Key Dates

Keywords

Tarsus Pharmaceuticals, TARS, Form 4, Insider Transaction, Stock Sale, RSU, Tax Withholding, Bobak Azamian