[144] Apellis Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

On July 14, 2025, Robert M. Jenkins, Executive VP & COO of Essential Properties Realty Trust (EPRT), automatically acquired 84 common shares at $0 under a dividend-equivalent adjustment to performance-based RSUs granted in 2022. The award, which will vest on December 31, 2025, raises his direct holding to 35,367 shares. No sales or derivative transactions were reported, and the filing contains no cash consideration or new option grants.

Insights

Financial Analyst

TL;DR: Immaterial insider buy linked to dividend equivalents; neutral market signal.

The 84-share increase is purely mechanical, reflecting the RSU plan’s dividend-equivalent feature rather than discretionary purchasing. Total ownership moved from 35,283 to 35,367 shares, a 0.24% change—well below any threshold likely to influence valuation or sentiment. Because no open-market cash was deployed and vesting remains contingent on 2022 performance metrics, I view the event as non-impactful to EPRT’s capital structure or float.

Corporate Governance Expert

TL;DR: Routine Form 4; consistent with standard equity incentive policies.

The transaction discloses compliance with Section 16 reporting and highlights EPRT’s use of dividend-protected performance RSUs—a common REIT practice to align executives with shareholders. No red flags emerge: the adjustment is formulaic, the power of attorney is on file, and filing timeliness is within two days. Governance risk unchanged.

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

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	1900	38168.00	125682260	07/15/2025	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	01/12/2024	Restricted Stock Vesting	Issuer			1200	01/12/2024	Compensation
Common	07/15/2025	Option Granted - 08/21/2017	Issuer			700	07/15/2025	Cash

* 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
Cedric G. Francois 100 Fifth Avenue Waltham MA 02451	Common	07/14/2025	137465	2774920.01

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

How many EPRT shares did Robert M. Jenkins acquire on July 14, 2025?

He received 84 common shares via an automatic RSU dividend-equivalent adjustment.

What is Robert M. Jenkins’s total direct ownership after the transaction?

Following the adjustment, he directly owns 35,367 EPRT shares.

Was cash paid for the newly acquired shares?

No. The shares were issued at $0 cost as part of the RSU plan.

When will the related RSUs vest?

The performance-based RSUs are scheduled to vest on December 31, 2025.

Did the filing report any share sales by the executive?

No. The Form 4 lists only an acquisition; there were no dispositions or derivative exercises.