Apellis (APLS) CEO Cedric Francois sells shares to cover RSU tax

Rhea-AI Filing Summary

Apellis Pharmaceuticals, Inc. insider activity: Chief Executive Officer and director Cedric Francois reported selling 27,192 shares of Apellis common stock on January 22, 2026 at a price of $21.7654 per share. The filing explains that this sale was made to cover tax withholding on restricted stock units that were released on January 21, 2026. After this transaction, Francois directly held 286,045 Apellis shares.

In addition to his direct holdings, the filing lists indirect holdings in several trusts, including 307,946 shares held by The Cedric Francois Irrevocable Trust of 2023 - 2, 472,065 shares held by The Cedric Francois Irrevocable Trust of 2023, 300,000 shares held by The Francois Grossi Trust, and 234,411 shares held by The Francois-DuBois Educational Trust. These shares are held by the respective trusts, and Francois disclaims beneficial ownership except to the extent of any pecuniary interest.

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

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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^*

Francois Cedric

(Last) (First) (Middle)

C/O APELLIS PHARMACEUTICALS, INC.

100 FIFTH AVENUE, 3RD FLOOR

(Street)

WALTHAM MA 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/22/2026		S(1)		27,192	D	$21.7654	286,045	D
Common Stock								307,946	I(2)	Indirect Owner (The Cedric Francois Irrevocable Trust of 2023 - 2)
Common Stock								472,065	I(3)	Indirect Owner (The Cedric Francois Irrevocable Trust of 2023)
Common Stock								300,000	I(4)	Indirect Owner (The Francois Grossi Trust)
Common Stock								234,411	I(5)	Indirect Owner (The Francois-DuBois Educational Trust)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This represents shares sold to cover tax withholding on the Restricted Stock Units released on January 21, 2026.

2. The securities are held by The Cedric Francois Irrevocable Trust of 2023 - 2. William V. A. Zorn is the trustee of The Cedric Francois Irrevocable Trust of 2023 - 2. The reporting person disclaims beneficial ownership over the shares held by The Cedric Francois Irrevocable Trust of 2023 - 2 except to the extent of his pecuniary interest therein.

3. The securities are held by The Cedric Francois Irrevocable Trust of 2023. William V. A. Zorn is the trustee of The Cedric Francois Irrevocable Trust of 2023. The reporting person disclaims beneficial ownership over the shares held by The Cedric Francois Irrevocable Trust of 2023 except to the extent of his pecuniary interest therein.

4. The securities are held by The Francois Grossi Trust, for which Juliana Grossi, the spouse of the reporting person, serves as trustee. The reporting person disclaims beneficial ownership over the shares held by the Francois Grossi Trust except to the extent of his pecuniary interest therein.

5. The securities are held by The Francois-DuBois Educational Trust, for which the Fiduciary Trust Company of New England serves as trustee. The reporting person disclaims beneficial ownership over the shares held by The Francois-DuBois Educational Trust except to the extent of his pecuniary interest therein.

	/s/ David Watson, attorney-in-fact for Cedric Francois	01/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Apellis (APLS) report for Cedric Francois on January 22, 2026?

Apellis reported that Chief Executive Officer and director Cedric Francois sold 27,192 shares of Apellis common stock on January 22, 2026 at $21.7654 per share, coded as an "S" transaction.

Why did Cedric Francois sell 27,192 Apellis (APLS) shares?

The filing states that the 27,192 shares were sold to cover tax withholding obligations on restricted stock units that were released on January 21, 2026.

How many Apellis (APLS) shares does Cedric Francois hold directly after this Form 4 transaction?

Following the reported sale, Cedric Francois directly held 286,045 shares of Apellis common stock.

What indirect Apellis (APLS) share holdings are associated with trusts linked to Cedric Francois?

The filing lists indirect holdings of 307,946 shares held by The Cedric Francois Irrevocable Trust of 2023 - 2, 472,065 shares held by The Cedric Francois Irrevocable Trust of 2023, 300,000 shares held by The Francois Grossi Trust, and 234,411 shares held by The Francois-DuBois Educational Trust.

Does Cedric Francois claim full beneficial ownership of Apellis (APLS) shares held in the related trusts?

No. For each trust—The Cedric Francois Irrevocable Trust of 2023 - 2, The Cedric Francois Irrevocable Trust of 2023, The Francois Grossi Trust, and The Francois-DuBois Educational Trust—the filing states that Cedric Francois disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest.

What roles does Cedric Francois hold at Apellis (APLS) according to this Form 4?

Cedric Francois is identified as both a director and the Chief Executive Officer of Apellis Pharmaceuticals, Inc.