Avelar Rui 4

What Happened
Rui Avelar, Chief Medical Officer & Head of R&D at Evolus (EOLS), had 8,804 performance RSUs/PSUs vest and settle into common stock on March 16, 2026 (converted at $0.00). Under a Rule 10b5-1 plan, Avelar sold 29,996 shares in open-market trades on March 17, 2026, for total proceeds of about $146,629 (weighted average price $4.89). The sale was reported on a Form 4 filed March 18, 2026.

Key Details

• Transaction dates: PSUs vested/settled on 2026-03-16; open-market sales on 2026-03-17; Form 4 filed 2026-03-18 (appears timely).
• Shares issued on vesting (conversion): 8,804 shares at $0.00 (settlement of PSUs).
• Shares sold: 29,996 shares disposed at a weighted average price of $4.89; prices in trades ranged $4.8874–$4.945; proceeds ≈ $146,629.
• Reason for sale: Executed under a Rule 10b5-1 plan to cover tax-withholding obligations related to vesting/settlement of PSUs and RSUs (per filing).
• Remaining awards: Of the original 17,606 PSUs granted in Feb 2024, 8,802 PSUs remain outstanding and are scheduled to vest on Feb 7, 2027, subject to service.
• Shares owned after transaction: Not specified in the filing.

Context
The March 16 entry reflects settlement of performance-based restricted stock units (PSUs) rather than a cash purchase — the shares were issued at $0.00 upon vesting. The subsequent open-market sales were executed under a pre-established 10b5-1 plan and are described by the filer as transactions to satisfy tax withholding; such sales are common and do not necessarily indicate a change in insider sentiment.