LINK WILLIAM J PHD 4

What Happened

• William J. Link, PhD, a non‑employee director of Tarsus Pharmaceuticals (TARS), reported the settlement of 2,954 restricted stock units (RSUs) on June 12, 2026. The RSUs converted into 2,954 shares (reported as a conversion/exercise of a derivative security, code M). The filing shows no cash paid for these shares (exercise price reported as N/A/$0.00) — this was a compensation-related vesting event, not an open-market purchase or sale.

Key Details

• Transaction date: June 12, 2026. Filing date: June 16, 2026 (filed four days after the transaction; Form 4s are generally due within two business days).
• Reported transactions: conversion/exercise of derivative (M) — 2,954 shares acquired; the derivative instrument also shown as disposed at $0.00 in the filing (consistent with RSU settlement/cancellation).
• Share count after transaction: Not specified in the supplied filing excerpt.
• Footnotes: F1–F3 explain these were RSUs settling into shares. The RSUs were originally granted on June 12, 2025 in connection with director service and vested in full on the one‑year anniversary, subject to continuous service.
• No separate tax‑withholding or sale of shares is reported in the provided details.

Context

• This is a routine compensation vesting (RSU settlement) for a director — it reflects receipt of shares from prior award grants rather than a market purchase or disposition. Such events are standard for director compensation; they do not, by themselves, indicate a buy or sell signal. The filing date is later than the typical two-business-day Form 4 deadline, which can be material information for traders monitoring insider timeliness.