PYOTT DAVID E I 4

What Happened
David E. Pyott, a non‑employee director of Tarsus Pharmaceuticals (TARS), was granted a mix of stock option(s) and restricted stock units (RSUs) on 2026-06-25. The awards consist of 3,837 option/award units, 2,417 RSUs, and 806 RSUs (total = 7,060 derivative units). Each grant is reported at $0.00 per unit (these are compensation awards, not open‑market purchases).

Key Details

• Transaction date: 2026-06-25; Filing date (Form 4): 2026-06-29. The filing was 4 days after the transaction (Form 4s are generally due within 2 business days), so this appears to be late.
• Reported amounts/prices: 3,837 units @ $0.00; 2,417 units @ $0.00; 806 units @ $0.00. Aggregate = 7,060 derivative units; reported acquisition value $0.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes/vesting:
  • F1: Annual option for non‑employee director; vests in full one year after grant (continuous service).
  • F2: Each RSU equals a contingent right to one common share.
  • F3: RSUs vest in full one year after grant (continuous service).
  • F4: RSUs vest in equal installments on 9/15/2026, 12/15/2026, 3/15/2027 and 6/15/2027 (continuous service).

Context
These are compensation awards for board service (derivative grants: options and RSUs). Such awards are routine for non‑employee directors and do not reflect an open‑market purchase or sale. The vesting schedules mean the shares (or option value) will only be realized if the director remains in service and any applicable vesting conditions are met.