[144] Apellis Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Apellis Pharmaceuticals (APLS) Form 144: proposed sale of 20,000 common shares. The notice reports an intended sale of 20,000 shares through Morgan Stanley Smith Barney on 09/10/2025 on NASDAQ with an aggregate market value of $523,436. The filing shows the seller previously acquired the shares as performance stock units and exercised options across four acquisition dates: 09/18/2018, 01/27/2021, 01/28/2022 and 09/08/2025. The filer sold 15,000 shares in the past three months across three trades on 06/16/2025, 07/16/2025 and 08/18/2025 for gross proceeds of $93,850, $97,750 and $139,000 respectively. The notice includes the standard representation that the seller is unaware of any undisclosed material adverse information about the issuer.

Positive

• Full disclosure of planned sale including broker, date, market value and exchange
• Detailed acquisition history showing performance stock units and exercised options across multiple dates
• Prior recent sales disclosed with dates and gross proceeds, improving transparency

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale disclosed; size is immaterial relative to outstanding shares and reflects vesting or option activity.

The Form 144 documents a planned sale of 20,000 common shares via a broker on NASDAQ with an aggregate market value of $523,436. The filing identifies multiple acquisition dates including performance stock units and previously exercised options, consistent with routine liquidity by an insider or executive. Recent sales of 15,000 shares in the prior three months are disclosed with specific proceeds, supporting a pattern of periodic dispositions rather than a single large exit. Given the total outstanding shares of 126,289,910 shown in the filing, the amounts here represent a de minimis percent of the float and are unlikely to be material to company valuation.

Compliance and Governance Expert

TL;DR: Filing appears compliant and includes required representations; disclosure is timely and includes broker details.

The notice supplies broker identification, planned sale date, aggregate market value and the seller's recent transaction history, aligning with Rule 144 disclosure norms. The seller affirms no undisclosed material adverse information and the form warns against intentional misstatements, which is standard. The inclusion of acquisition method details (performance stock units and exercised options) aids auditability. No governance red flags or unexplained omissions are evident in the provided content, though the issuer name fields in the form text block are not populated in the tables provided here.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	20000	523436.00	126289910	09/10/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/18/2018	Performance Stock Units	Issuer			9042	09/18/2018	Not Applicable
Common	09/08/2025	Performance Stock Units	Issuer			482	09/08/2025	Not Applicable
Common	01/28/2022	Performance Stock Units	Issuer			1225	01/28/2022	Not Applicable
Common	01/27/2021	Previously Exercised Options	Issuer			9251	01/27/2021	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
David O. Watson 100 FIFTH AVENUE WALTHAM MA 02451	Common	08/18/2025	5000	139000.00
David O. Watson 100 FIFTH AVENUE WALTHAM MA 02451	Common	07/16/2025	5000	97750.00
David O. Watson 100 FIFTH AVENUE WALTHAM MA 02451	Common	06/16/2025	5000	93850.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Apellis (APLS) Form 144 disclose?

The Form 144 reports a proposed sale of 20,000 common shares through Morgan Stanley Smith Barney on 09/10/2025 on NASDAQ with aggregate market value $523,436.

How many shares has the seller sold recently according to the filing for APLS?

The seller sold 15,000 shares in the past three months: 5,000 on 06/16/2025 for $93,850, 5,000 on 07/16/2025 for $97,750, and 5,000 on 08/18/2025 for $139,000.

What were the acquisition dates and types for the shares to be sold in the APLS filing?

Acquisition entries shown are performance stock units on 09/18/2018, 01/28/2022, and 09/08/2025, and previously exercised options on 01/27/2021.

Through which broker will the APLS shares be sold?

The filing lists Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004 as the broker.

What is the number of shares outstanding reported in the Form 144?

The filing lists 126,289,910 shares outstanding.