Michael Ackermann, the Chairperson of the Board of Directors of Tarsus Pharmaceuticals, Inc. notified the Company of his resignation as the Chairperson and as a member of the Board and any committees of the Board, effective December 2, 2022. Dr. Ackermann will transition to a consulting role with the Company thereafter. The resignation is not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

On December 2, 2022, as part of the Transition, the Company entered into a Consulting Agreement with Dr. Ackermann under which Dr. Ackermann will serve as a consultant to the Company. Pursuant to the terms of the Consulting Agreement, Dr. Ackermann was granted 5,000 restricted stock units under the Company's 2020 Equity Incentive Plan which will vest in full on the one-year anniversary of the grant date, subject to his continuous service pursuant to the Consulting Agreement. Additionally, Dr. Ackermann will be eligible to continue to vest in his outstanding equity awards subject to his continuous service pursuant to the Consulting Agreement.

The Consulting Agreement is effective as of December 2, 2022 and has an initial term of 12 months unless terminated earlier pursuant to its terms. The Consulting Agreement contains standard confidentiality, indemnification and intellectual property assignment provisions in favor of the Company. Further, on December 1, 2022, based on the recommendation of the Board's Nominating and Corporate Governance Committee, the Board authorized and approved the appointment of Bobak Azamian, current member of the Board, as Chairperson of the Board, and Wendy Yarno, current member of the Board, as Lead Independent Director, each appointment effective as of December 2, 2022.