Tarsus Pharmaceuticals (NASDAQ:TARS) Chief Medical Officer Elizabeth Yeu Lin reported three separate sales of common stock executed between March 17 and March 19, 2026. The cumulative disposition totaled 1,144 shares, generating proceeds of $78,203 at transaction prices that ranged from $67.00 to $69.42 per share.
The individual transactions were disclosed as follows: on March 17, Lin sold 375 shares at $69.42 per share; on March 18, she sold 379 shares at $68.71 per share; and on March 19, she sold 390 shares at $67.00 per share. According to the report, the sales were conducted to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units (RSUs).
Following these sales, Lin's direct ownership in Tarsus stands at 23,308 shares. In addition to her direct holdings, the filing indicates indirect holdings of 6,360 shares through a Spouse's Roth IRA and 12,040 shares through a 401(k) Plan.
The company's common stock was trading at $66.75 at the time of the report, a level below the prices realized in Lin's March transactions. The stock is down 18% year-to-date, while it has gained 35% over the past 12 months.
Separately, Tarsus reported strong financial performance for the fourth quarter of 2025 and for the full year. Net product sales reached $151.7 million in the fourth quarter and $451.4 million for the full year. Company statements attribute this growth primarily to its flagship product, XDEMVY. Despite the reported sales strength, the stock experienced a minor decline in aftermarket trading following the results.
Context and note on the transactions
The Form 4 filing characterizes the share disposals as transactions to meet tax-withholding obligations tied to RSU vesting and settlement. The filing does not provide additional discretionary motives beyond the stated tax-related purpose.
Market commentary cited in the filing
The submission references an InvestingPro analysis that suggests the stock may be undervalued, and notes the availability of further insights in a Pro Research Report for TARS. The filing does not expand on that analysis within the disclosure.
Implications for investors
These insider transactions were limited in size relative to total reported holdings and were designated for tax obligations arising from equity compensation. The company’s recent financial results show notable product-driven revenue growth, while the share price sits below the levels at which the CMO sold and has shown mixed performance in recent trading.