Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Apellis Pharmaceuticals (Nasdaq: APLS) has announced the approval of equity inducement awards for three new employees, effective February 3, 2025. The grants, made outside the company's 2017 Stock Incentive Plan but under the 2020 Inducement Stock Incentive Plan, consist of 7,805 restricted stock units (RSUs). These equity awards were approved in compliance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over four years, with 25% vesting on the first anniversary of the grant date and an additional 25% vesting annually thereafter, contingent upon continued employment.

Positive

• Successful recruitment of three new employees with equity-based compensation alignment

Negative

• Potential dilution of existing shareholders through new RSU issuance

WALTHAM, Mass., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) announced today that the company approved the grant of equity awards to three new employees with a grant date of February 3, 2025, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2020 Inducement Stock Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received 7,805 restricted stock units (RSUs). Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date.

About Apellis
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that combines courageous science and compassion to develop life-changing therapies for some of the most challenging diseases patients face. We ushered in the first new class of complement medicine in 15 years and now have two approved medicines targeting C3. These include the first-ever therapy for geographic atrophy, a leading cause of blindness around the world. We believe we have only begun to unlock the potential of targeting C3 across many serious diseases. For more information, please visit http://apellis.com or follow us on Twitter and LinkedIn.

Apellis Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed in the “Risk Factors” section of Apellis’ Annual Report on Form 10-K with the Securities and Exchange Commission on February 27, 2024 and Quarterly Report on Form 10-Q filed on November 5, 2024 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Contact:
Lissa Pavluk 
media@apellis.com  
617.977.6764

Investor Contact:
Meredith Kaya
meredith.kaya@apellis.com
617.599.8178

FAQ

How many RSUs did Apellis Pharmaceuticals (APLS) grant in February 2025?

Apellis Pharmaceuticals granted 7,805 restricted stock units (RSUs) to three new employees in February 2025.

What is the vesting schedule for APLS's February 2025 RSU grants?

The RSUs vest 25% on the first anniversary of the grant date (February 3, 2025) and an additional 25% annually thereafter, over a four-year period.

Under which plan were the February 2025 APLS equity inducement awards granted?

The awards were granted under the 2020 Inducement Stock Incentive Plan, outside of the company's 2017 Stock Incentive Plan.

What Nasdaq rule did Apellis comply with for the February 2025 equity grants?

The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).