MOATAZEDI DAVID 4

What Happened

• David Moatazedi, President & Chief Executive Officer of Evolus, had 67,489 performance shares vest and settle on March 16, 2026 (issued at $0 exercise price). He sold 116,720 shares in an open-market transaction on March 17, 2026 for a weighted average price of $4.89, generating approximately $570,562. The share issuance on March 16 resulted from the Certification of PSUs earned at 100% of target.

Key Details

• Transaction dates: March 16, 2026 (PSU settlement/exercise); March 17, 2026 (open-market sale). Form filed March 18, 2026 (timely).
• Sale price(s): weighted average $4.89; trade prices ranged $4.8874–$5.015 (multiple trades).
• Shares involved: 67,489 shares issued/received on settlement; 116,720 shares sold in the market.
• Proceeds: roughly $570,562 from the open-market sales.
• Shares owned after transaction: not specified in the provided excerpt; 67,488 of the originally granted 134,977 PSUs remain outstanding and are scheduled to vest Feb 7, 2027 (per footnote).
• Notable footnotes: (F1) 134,977 PSUs granted in Feb 2024, 50% vested/settled Mar 16, 2026; (F2) sales effected pursuant to a Rule 10b5‑1 plan to cover tax withholding from PSU/RSU vesting; (F3) seller offers to provide detailed trade-by-trade info on request.

Context

• This was not a market-timing purchase signal: shares were issued upon PSU vesting and many were sold under a pre-established 10b5‑1 plan to cover tax obligations. The filing appears timely (filed within the standard Form 4 window). For derivative/award activity: PSUs were certified and settled into common shares; the insider sold shares rather than a purchase indicating routine tax/liquidity management, not necessarily a view on company prospects.