Wahl Bryan 4

What Happened
Bryan Wahl, General Counsel of Tarsus Pharmaceuticals (TARS), reported three open-market sales totaling 12,440 shares between 2026-03-17 and 2026-03-19. The sales were: 4,084 shares @ $69.42 on 2026-03-17 ($283,511), 4,125 shares @ $68.71 on 2026-03-18 ($283,429), and 4,231 shares @ $67.00 on 2026-03-19 ($283,477). Total gross proceeds were approximately $850,417. These were disposals (S) and not purchases — routine sell-to-cover transactions rather than a market-timing buy signal.

Key Details

• Transaction dates and prices:
  • 2026-03-17: 4,084 shares @ $69.42 = $283,511
  • 2026-03-18: 4,125 shares @ $68.71 = $283,429
  • 2026-03-19: 4,231 shares @ $67.00 = $283,477
• Total: 12,440 shares sold for ~$850,417.
• Shares owned after transaction: not specified in the filing.
• Footnote (F1): Sales were mandated sell-to-cover to satisfy tax withholding on vested Restricted Stock Units (RSUs); not discretionary trades by the reporting person.
• Transaction code: S = Sale. Filing date: 2026-03-19 — transactions reported timely (within Form 4 reporting window).

Context
Sell-to-cover transactions are common when RSUs vest and the employer requires withholding by selling a portion of shares; they generally do not indicate the insider's view of the company's prospects. For retail investors, purchases generally carry more informational weight than mandated sales like these.