Tarsus (TARS) Director William Link Sells 12,500 Shares

What Happened
William J. Link (non-employee director) sold a total of 12,500 shares of Tarsus Pharmaceuticals on September 15, 2026 in three open‑market transactions, generating total proceeds of approximately $979,745. The sales were: 11,675 shares at a weighted average price of $78.33 (range $77.87–$78.86) for $914,503; 759 shares at a weighted average price of $79.00 (range $78.89–$79.10) for $59,961; and 66 shares at $80.01 for $5,281. The filing also reports 201 shares issued/converted from vested RSUs the same day (derivative conversion/settlement per the footnotes).

Key Details

• Transaction date: 2026-09-15; Form 4 filed 2026-09-17 (covers 9/15 transactions). No indication in the filing that this was late.
• Sales: 11,675 @ $78.33 (weighted avg; pooled multiple prices), 759 @ $79.00 (weighted avg), 66 @ $80.01. Total proceeds ≈ $979,745.
• RSU settlement: 201 shares issued upon settlement/conversion of vested RSUs (footnotes indicate each RSU = 1 share; RSUs granted as non‑employee director awards).
• Sales executed pursuant to an automatic Rule 10b5‑1 trading plan adopted by Link on September 8, 2025 (per footnote).
• The filing includes weighted‑average price ranges and an offer to provide per‑price breakdown on request (footnotes F3/F4).
• Shares owned after the transactions were not specified in the provided excerpt.

Context

• These were sales (not purchases); sales executed under a 10b5‑1 plan are often pre‑arranged and routine. The filing also shows RSUs converting to shares the same day (derivative/award settlement). Derivative entries (code M) reflect conversion/settlement of RSUs rather than a typical stock option cash exercise.