Apellis CFO awarded 58,140 restricted stock units

Rhea-AI Filing Summary

Apellis Pharmaceuticals’ chief financial officer, Timothy E. Sullivan, reported receiving an award of 58,140 shares of common stock on January 28, 2026 at a price of $0 per share, representing a restricted stock unit grant that vests 25% annually over four years, subject to continued service.

Following the award, he reports 152,041 shares of Apellis common stock held directly. An additional 60,396 shares are reported as indirectly held through The Timothy E Sullivan Irrevocable Trust of 2023, for which he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Grant/Award: 58,140 shares

Grant/Award 2 txns

Insider Sullivan Timothy Eugene

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	58,140	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 152,041 shares (Direct); Common Stock — 60,396 shares (Indirect, The Timothy E Sullivan Irrevocable Trust of 2023)

Footnotes (2)

1. F1. This represents a Restricted Stock Unit award granted on January 28, 2026 that vest 25% annually over four years from grant date subject to continued service.
2. F2. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Apellis (APLS) CFO Timothy Sullivan report in this Form 4 filing?

The filing reports that Apellis CFO Timothy E. Sullivan received an award of 58,140 shares of common stock on January 28, 2026 at $0 per share. This award is structured as restricted stock units, reflecting equity-based executive compensation.

How do Timothy Sullivan’s new Apellis restricted stock units vest?

The 58,140-share award is a restricted stock unit grant that vests 25% annually over four years from the January 28, 2026 grant date. Each vesting tranche requires continued service, linking the compensation to Sullivan’s ongoing role with Apellis Pharmaceuticals.

How many Apellis shares does Timothy Sullivan own directly after this transaction?

After the reported award, Timothy Sullivan is listed as directly beneficially owning 152,041 shares of Apellis common stock. This figure reflects his direct holdings only and excludes additional shares reported as indirectly held through a separate irrevocable trust structure.

What Apellis shares are reported as indirectly held through The Timothy E Sullivan Irrevocable Trust of 2023?

The filing shows 60,396 Apellis common shares as indirectly held through The Timothy E Sullivan Irrevocable Trust of 2023. The footnote states Sullivan disclaims beneficial ownership of those shares except to the extent of his pecuniary interest, with Patrick O. Collins serving as trustee.

Did Apellis CFO Timothy Sullivan pay cash for the 58,140-share award reported?

No cash was paid for the award; the 58,140 shares of Apellis common stock are reported with a transaction price of $0 per share. The filing explains this grant represents a restricted stock unit award rather than an open-market stock purchase.

What is Timothy Sullivan’s role at Apellis Pharmaceuticals referenced in the Form 4?

In this filing, Timothy E. Sullivan is identified as an officer of Apellis Pharmaceuticals, serving as Chief Financial Officer. The Form 4 reflects equity compensation and holdings associated with his executive position rather than ordinary trading activity in Apellis stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/30/2026 - 04:07 PM EST Learn about SEC filing dates

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 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

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	01/28/2026		A		58,140(1)	A	$0	152,041	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This represents a Restricted Stock Unit award granted on January 28, 2026 that vest 25% annually over four years from grant date subject to continued service.

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	01/30/2026
	** 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.