Apellis (APLS) CFO sells 2,892 shares to cover RSU taxes

Q: Who is the insider in this Apellis (APLS) Form 4 filing and what is their role?

The insider is Timothy Eugene Sullivan , who serves as Chief Financial Officer of Apellis Pharmaceuticals, Inc.

Q: How many Apellis (APLS) shares did the CFO sell and at what price?

On January 20, 2026 , the CFO sold 2,892 shares of Apellis common stock at an average price of $19.7929 per share.

Q: Why were Apellis (APLS) shares sold in this Form 4 transaction?

The filing states the 2,892 shares were sold to cover tax withholding on restricted stock units that were released on January 16, 2026 .

Q: How many Apellis (APLS) shares does the CFO own after this transaction?

After the reported sale, the CFO directly owns 104,188 shares of Apellis common stock.

Q: What is the indirect Apellis (APLS) ownership disclosed in the Form 4?

The Form 4 shows 60,396 shares held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023 , with a trustee other than the reporting person.

Q: Does the Apellis (APLS) CFO claim full beneficial ownership of the trust shares?

No. The filing states the CFO disclaims beneficial ownership of shares held by the trust except to the extent of his pecuniary interest.

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Apellis Pharmaceuticals Chief Financial Officer Timothy Eugene Sullivan reported a small sale of company stock primarily to cover taxes from equity compensation. On January 20, 2026, he sold 2,892 shares of common stock at an average price of $19.7929 per share, described as shares sold to cover tax withholding on restricted stock units that were released on January 16, 2026. After this transaction, he directly held 104,188 shares of Apellis common stock. In addition, 60,396 shares are held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023, for which a separate trustee, Patrick O. Collins, acts, and over which Sullivan disclaims beneficial ownership except to the extent of his pecuniary interest.

Insights

Small, routine sale tied to RSU tax withholding; neutral signal.

The transaction involves Apellis Pharmaceuticals’ Chief Financial Officer, who sold 2,892 shares of common stock on January 20, 2026 at an average price of $19.7929. The footnote explains these shares were sold to cover tax withholding on restricted stock units that vested a few days earlier, which is a common administrative step for equity compensation.

Following the sale, he still directly owns 104,188 shares, indicating his overall exposure to the stock remains substantial. An additional 60,396 shares are held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023, with a separate trustee and a disclaimer of beneficial ownership beyond his pecuniary interest. Overall, this appears as a routine, compensation-related sale rather than a discretionary reduction in ownership.

Insider Trade Summary

Net Seller: 2,892 shares ($57,241)

Net Sell 2 txns

Insider Sullivan Timothy Eugene

Role Chief Financial Officer

Sold 2,892 shs ($57K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,892	$19.7929	$57K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 104,188 shares (Direct); Common Stock — 60,396 shares (Indirect, The Timothy E Sullivan Irrevocable Trust of 2023)

Footnotes (1)

This represents shares sold to cover tax withholding on the Restricted Stock Units released on January 16, 2026. The securities are held by The Timothy E Sullivan Irrevocable Trust of 2023. Patrick O. Collins is the trustee of The Timothy E Sullivan Irrevocable Trust of 2023. The reporting person disclaims beneficial ownership over the shares held by The Timothy E Sullivan Irrevocable Trust of 2023 except to the extent of his pecuniary interest therein.

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Form 4 Insider Transactions: What Each Field Means →

01/21/2026 - 04:10 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sullivan Timothy Eugene

(Last)

(First)

(Middle)

C/O APELLIS PHARMACEUTICALS, INC.

100 FIFTH AVENUE, 3RD FLOOR

(Street)

WALTHAM

02451

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Apellis Pharmaceuticals, Inc. [ APLS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/20/2026		S⁽¹⁾		2,892	D	$19.7929	104,188	D
Common Stock								60,396	I⁽²⁾	The Timothy E Sullivan Irrevocable Trust of 2023

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This represents shares sold to cover tax withholding on the Restricted Stock Units released on January 16, 2026.

2. The securities are held by The Timothy E Sullivan Irrevocable Trust of 2023. Patrick O. Collins is the trustee of The Timothy E Sullivan Irrevocable Trust of 2023. The reporting person disclaims beneficial ownership over the shares held by The Timothy E Sullivan Irrevocable Trust of 2023 except to the extent of his pecuniary interest therein.

	/s/ David Watson, attorney-in-fact for Timothy Sullivan	01/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

Who is the insider in this Apellis (APLS) Form 4 filing and what is their role?

The insider is Timothy Eugene Sullivan, who serves as Chief Financial Officer of Apellis Pharmaceuticals, Inc.

How many Apellis (APLS) shares did the CFO sell and at what price?

On January 20, 2026, the CFO sold 2,892 shares of Apellis common stock at an average price of $19.7929 per share.

Why were Apellis (APLS) shares sold in this Form 4 transaction?

The filing states the 2,892 shares were sold to cover tax withholding on restricted stock units that were released on January 16, 2026.

How many Apellis (APLS) shares does the CFO own after this transaction?

After the reported sale, the CFO directly owns 104,188 shares of Apellis common stock.

What is the indirect Apellis (APLS) ownership disclosed in the Form 4?

The Form 4 shows 60,396 shares held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023, with a trustee other than the reporting person.

Does the Apellis (APLS) CFO claim full beneficial ownership of the trust shares?

No. The filing states the CFO disclaims beneficial ownership of shares held by the trust except to the extent of his pecuniary interest.