Parschauer Karah Herdman

Insider trading profile for Parschauer Karah Herdman spanning three Nasdaq life-sciences issuers: PRINCIPAL = Ultragenyx Pharmaceutical (RARE, 91 tx, 0 open-market buy, 141K SELL historically 2016-2024, FLIPPED 2024-2026 to A-code grants). Behavior transitioned at RARE in early 2024: the insider received a substantial 2024-03 RSU grant (50.6K), then 2025-03 59K, then 2026-04 78.8K (two tranches: 49.9K at $24.52 FMV + 28.9K at $0 vesting). A small Jun 2026 sell of 1,899 at $24.62 liquidates near the grant price. Historical RARE sells at elevated levels (2021 highs $85-$87 and 2023-2024 levels $53-$68) — the executive monetized at the top and held through the decline. Secondary: Evolus (EOLS, 14 tx): repeated A-code vesting + immediate S-code pattern (2024-02 A 15.8K then S 11.9K at $13.14; 2025-03 A 18.5K then S 12.9K at $13.00) — the insider monetizes near-vest, holds minority. Tenaya Therapeutics (TNYA, 7 tx): PURE 227K A-code accumulation with zero sells — 2024-10 (34K), 2025-05 (107K), 2026-05 (120K at $0.80 FMV). KEY SIGNAL: This is a behavioral transformation profile — historically aggressive monetizer at the primary employer (bullish read for the pre-2024 period is negative) that shifted in 2024 to 100% grant receipt with near-zero sell. Classification: MIXED. The 2024+ pattern change could reflect either (a) a new role with different comp structure, or (b) a personal decision to accumulate. TNYA $0.80 A-code at a distressed pre-revenue spel is unusual for anyone not affiliated with the company. EOLS small-cycle A/S is standard biotech vesting. Net: pattern is mixed because the historical bearish deep-sell is dispelled by the recent grant-only tenure.