[Form 4] Apellis Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Apellis Pharmaceuticals (APLS) reported an insider transaction by CFO Timothy Sullivan. On October 21, 2025, he exercised stock options for 10,000 shares at $10.03 and sold 10,000 shares at $28.03 under a Rule 10b5-1 trading plan.

After these transactions, he held 110,936 shares directly and 60,396 shares indirectly through The Timothy E Sullivan Irrevocable Trust of 2023. He also reported 232,903 derivative securities (stock options) beneficially owned following the transactions.

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).

X

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)
10/21/2025

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	10/21/2025		M(1)		10,000	A	$10.03	120,936	D
Common Stock	10/21/2025		S(1)		10,000	D	$28.03	110,936	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
Stock Option (Right to Buy)	$10.03	10/21/2025		M(1)			10,000	(3)	10/18/2027	Common Stock	10,000	$0	232,903	D

Explanation of Responses:

1. This is a scheduled exercise & sale from 10b5-1 trading plan dated June 9, 2025.

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.

3. This option was granted on October 18, 2017 and fully vested.

	/s/ David Watson, attorney-in-fact for Timothy Sullivan	10/23/2025
	** 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 activity did APLS disclose?

The CFO exercised options for 10,000 shares at $10.03 and sold 10,000 shares at $28.03 on October 21, 2025 under a Rule 10b5-1 plan.

Who conducted the transaction at Apellis (APLS)?

Chief Financial Officer Timothy Sullivan reported the transactions.

How many APLS shares does the CFO hold after the transaction?

He held 110,936 shares directly and 60,396 indirectly via The Timothy E Sullivan Irrevocable Trust of 2023.

What derivative holdings were reported for APLS?

Following the transactions, 232,903 stock options were beneficially owned.

Was the APLS trade under a Rule 10b5-1 plan?

Yes. It was a scheduled exercise and sale pursuant to a Rule 10b5-1 plan dated June 9, 2025.

What were the prices for the APLS option exercise and sale?

The option was exercised at $10.03 per share and the shares were sold at $28.03 per share.