Avelar Rui 4
4 · Evolus, Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Evolus (EOLS) CMO Rui Avelar Sells Shares After PSU Vest
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.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-16+8,804→ 460,538 total - Sale
Common Stock
[F2][F3]2026-03-17$4.89/sh−29,996$146,629→ 430,542 total - Exercise/Conversion
Performance Restricted Stock Units
[F1]2026-03-16−8,804→ 8,802 total→ Common Stock (8,804 underlying)
Footnotes (3)
- [F1]As previously reported, on February 7, 2024, the Reporting Person was granted 17,606 performance restricted stock units ("PSUs") at target pursuant to the Evolus, Inc. 2017 Omnibus Incentive Plan. The PSUs were subject to performance conditions based on certain pre-specified revenue and defined non-GAAP operating profit measured over the Issuer's 2024 and 2025 fiscal years. The Compensation Committee certified achievement at 100% of target, resulting in 17,606 earned PSUs. Of the earned PSUs, 50% vested and settled on March 16, 2026, resulting in the issuance of 8,804 shares of the Issuer's common stock. The remaining 8,802 PSUs remain outstanding and are scheduled to vest on February 7, 2027, subject to continued service. The number of shares reported reflects rounding adjustments applied in accordance with the terms of the award and administrative procedures.
- [F2]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person and represent shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of multiple PSU and restricted stock unit awards.
- [F3]The shares were sold in multiple trades at prices ranging from $4.8874 to $4.945. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.