Apellis Pharmaceuticals (APLS) CMO sells shares for tax withholding

Rhea-AI Filing Summary

Apellis Pharmaceuticals Chief Medical Officer Caroline Baumal reported a routine share sale related to tax withholding. On January 20, 2026, she sold 1,882 shares of Apellis common stock at a price of $19.7929 per share. According to the footnote, this sale was made to cover tax withholding on Restricted Stock Units that were released on January 16, 2026.

After this transaction, Baumal beneficially owned 89,324 shares of Apellis common stock in direct ownership form. The filing indicates this was a single non-derivative transaction coded as a sale, tied specifically to the vesting of equity compensation rather than an open-market discretionary sale.

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

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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^*

Baumal Caroline

(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 Medical 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/20/2026		S(1)		1,882	D	$19.7929	89,324	D

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 16, 2026.

	/s/ David Watson, attorney-in-fact for Caroline Baumal	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.

FAQ

What insider transaction did Apellis Pharmaceuticals (APLS) report?

The filing reports that Chief Medical Officer Caroline Baumal sold 1,882 shares of Apellis common stock on January 20, 2026 at $19.7929 per share.

Why did Caroline Baumal sell Apellis (APLS) shares in this Form 4?

The footnote explains that the sale represents shares sold to cover tax withholding on Restricted Stock Units that were released on January 16, 2026.

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

Following the reported sale, Caroline Baumal beneficially owned 89,324 shares of Apellis common stock in direct ownership.

What was the transaction code used for the Apellis (APLS) insider trade?

The transaction is reported with code "S", indicating a sale of common stock, with the footnote clarifying it was to satisfy tax withholding obligations.

Is this Apellis (APLS) insider transaction related to stock options or RSUs?

Yes. The footnote states the sale covered taxes on Restricted Stock Units that were released on January 16, 2026, linking the sale to equity compensation vesting.

What is Caroline Baumal’s role at Apellis Pharmaceuticals (APLS)?

The reporting person, Caroline Baumal, is identified as an officer of Apellis Pharmaceuticals with the title Chief Medical Officer.