[144] Apellis Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice discloses a proposed sale of 5,000 common shares to be executed approximately on 08/18/2025 through Fidelity Brokerage Services LLC on NASDAQ with an aggregate market value of $139,000. The filing lists 126,289,910 shares outstanding for the class. The shares were acquired in two restricted stock vesting events from the issuer on 01/21/2024 (4,031 shares) and 01/28/2024 (969 shares), paid as compensation. The filer previously sold 5,000 shares on 06/16/2025 for $93,850 and 5,000 shares on 07/16/2025 for $97,750. The form includes broker and seller name/address details but lacks a named issuer in the filing text.

Positive

• Acquisitions were disclosed as restricted stock vesting and paid as compensation, providing clear provenance of the shares
• Broker and transaction details are provided (Fidelity Brokerage Services LLC; NASDAQ; sale date approximate)

Negative

• Filing text does not state the issuer name within the provided content, limiting contextual assessment
• Recent insider sales recorded (5,000 shares in June and 5,000 shares in July 2025), which may raise questions about continued selling pressure
• No statement in the provided text about a 10b5-1 plan or filer’s relationship to the issuer, reducing clarity on whether sales follow a pre-established plan

Insights

Securities Analyst

TL;DR: Routine insider sale of a small block of vested restricted shares; disclosed clearly with recent prior sales noted.

The notice documents a proposed sale of 5,000 common shares with an aggregate market value of $139,000, originating from restricted stock vesting in January 2024 and characterized as compensation. Prior near-term sales of 5,000 shares in June and July 2025 are recorded with gross proceeds shown. For investors, this is a transparent, routine Rule 144 filing reflecting liquidity events from compensation; on its own it is unlikely to be material to company valuation given the share count disclosed. Absence of an explicit issuer name in the filing text limits contextual assessment of insider role and proportionate ownership.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144 requirements but provides limited context on insider ownership and plan status.

The form supplies acquisition dates, nature of acquisition (restricted stock vesting), broker details, and recent sale transactions, which supports regulatory transparency. However, the filing omits a clear issuer name within the provided content and does not state the filer’s relationship to the issuer or whether a 10b5-1 plan applies. Those omissions reduce the ability to evaluate governance implications or whether sales follow an established trading plan. As presented, the filing documents routine dispositions without explicit governance context.

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	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5000	139000.00	126289910	08/18/2025	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	01/21/2024	Restricted Stock Vesting	Issuer			4031	01/21/2024	Compensation
Common	01/28/2024	Restricted Stock Vesting	Issuer			969	01/28/2024	Compensation

* 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	06/16/2025	5000	93850.00
David O. Watson 100 Fifth Avenue Waltham MA 02451	Common	07/16/2025	5000	97750.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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 Form 144 for APLS disclose about the proposed sale?

The form discloses a proposed sale of 5,000 common shares to be sold approximately on 08/18/2025 through Fidelity on NASDAQ with an aggregate market value of $139,000.

How were the shares being sold on this Form 144 acquired?

The shares were acquired via restricted stock vesting from the issuer on 01/21/2024 (4,031 shares) and 01/28/2024 (969 shares) and were paid as compensation.

Has the filer sold other shares recently according to this filing?

Yes. The filing lists sales by David O. Watson of 5,000 shares on 06/16/2025 (gross proceeds $93,850) and 5,000 shares on 07/16/2025 (gross proceeds $97,750).

What exchange and broker are named for the proposed sale?

The proposed sale is to be executed on NASDAQ through Fidelity Brokerage Services LLC (900 Salem Street, Smithfield RI 02917).

Does the filing state the issuer’s total shares outstanding?

Yes. The filing lists 126,289,910 shares outstanding for the class associated with this sale.