Apellis (APLS) CFO Sullivan sells 10,287 shares to cover RSU taxes

Rhea-AI Filing Summary

Apellis Pharmaceuticals, Inc. Chief Financial Officer Timothy Eugene Sullivan reported a sale of 10,287 shares of common stock on January 22, 2026. The shares were sold at a price of $21.7654 per share and 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 tax‑related sale, Sullivan directly beneficially owned 93,901 shares of Apellis common stock. In addition, 60,396 shares are held indirectly through The Timothy E Sullivan Irrevocable Trust of 2023. The filing notes that the securities in the trust are held by that trust with Patrick O. Collins as trustee, and Sullivan disclaims beneficial ownership of those trust shares except to the extent of his pecuniary interest in them.

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^*

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)
01/22/2026

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)		10,287	D	$21.7654	93,901	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 shares sold to cover tax withholding on the Restricted Stock Units released on January 21, 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	01/23/2026
	** 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 Pharmaceuticals (APLS) disclose for its CFO?

The filing shows that Chief Financial Officer Timothy Eugene Sullivan reported selling 10,287 shares of Apellis common stock on January 22, 2026 at a price of $21.7654 per share.

Why did Apellis CFO Timothy Sullivan sell 10,287 APLS shares?

According to the filing, the 10,287 shares were sold to cover tax withholding on Restricted Stock Units that were released on January 21, 2026.

How many Apellis (APLS) shares does the CFO hold after the reported sale?

Following the reported sale, Timothy Eugene Sullivan directly beneficially owned 93,901 shares of Apellis common stock, as reported in the Form 4.

What is the role of The Timothy E Sullivan Irrevocable Trust of 2023 in this Apellis (APLS) Form 4?

The Form 4 reports that 60,396 shares of Apellis common stock are held indirectly through The Timothy E Sullivan Irrevocable Trust of 2023, with Patrick O. Collins as trustee.

Does Apellis CFO Timothy Sullivan claim full beneficial ownership of the shares held in the trust?

No. The filing states that Sullivan disclaims beneficial ownership of the shares held by The Timothy E Sullivan Irrevocable Trust of 2023, except to the extent of his pecuniary interest in those shares.

What position does Timothy Eugene Sullivan hold at Apellis Pharmaceuticals (APLS)?

Timothy Eugene Sullivan is identified in the filing as the Chief Financial Officer of Apellis Pharmaceuticals, Inc.