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

Rhea-AI Filing Summary

Apellis Pharmaceuticals insider Leslie Meltzer received equity awards on August 26, 2025. The filing shows a grant of 61,804 restricted stock units (RSUs) that vest 25% annually over four years subject to continued service, and a stock option to purchase 92,592 shares with an exercise price of $16.20 that vests over four years (25% after one year, then monthly thereafter) and expires August 26, 2035. After the transactions, Meltzer beneficially owns 61,804 shares from the RSUs and 92,592 underlying the option, reported as direct ownership. The form was signed by an attorney-in-fact on behalf of Meltzer on September 2, 2025.

Positive

• Retention-focused vesting: RSUs and options vest over four years, aligning officer incentives with long-term performance.
• Clear disclosure: Form 4 reports grant details including amounts, vesting schedules, and exercise price, complying with Section 16 requirements.

Negative

• Potential dilution: The 92,592-share option and 61,804 RSUs increase potential outstanding shares, but the filing does not state total share base to quantify dilution.
• No company-wide context: Filing lacks information on total shares outstanding or option pool size, limiting assessment of materiality to shareholders.

Insights

Compensation Analyst

TL;DR: Equity grants align senior R&D leadership with long-term shareholder value through multi-year vesting.

The RSU and option package is structured to retain and incentivize continued service, with standard four-year vesting and a market-based exercise price of $16.20. The combination of immediate RSU value and long-duration option gives balanced near-term and long-term incentive exposure. From a compensation design perspective this is a routine, retention-focused award rather than a one-time exceptional payout. The grant size (61,804 RSUs and 92,592 option shares) is significant in nominal share count but its materiality relative to total diluted shares is not stated in the filing.

Corporate Governance Expert

TL;DR: Filing documents a standard officer equity grant; disclosure is timely and conforms to Section 16 reporting.

The Form 4 properly reports non-derivative and derivative awards granted August 26, 2025, including vesting schedules and exercise price. The filing shows direct beneficial ownership and includes required signature by attorney-in-fact. Governance considerations include potential dilution from the option pool; however, the filing does not provide overall share count or percentage dilution, limiting assessment of shareholder impact. Procedurally this is a routine insider award disclosure.

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
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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^*

MELTZER LESLIE

(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 Research and Development

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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	08/26/2025		A(1)		61,804	A	$0	61,804	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
Stock Option (Right to Buy)	$16.2	08/26/2025		A		92,592		(2)	08/26/2035	Common Stock	92,592	$0	92,592	D

Explanation of Responses:

1. This restricted stock unit was granted on August 26, 2025. The restricted stock unit will vest 25% annually over four years from grant date, subject to her continued service as an officer, or upon later termination of her service.

2. This represents a stock option award granted August 26, 2025 that vests over a four-year period. 25% vests one year from grant date and the remaining 75% vests monthly thereafter subject to continued service.

	/s/ David Watson, attorney-in-fact for Leslie Meltzer	09/02/2025
	** 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 equity awards did Leslie Meltzer receive according to the APLS Form 4?

The filing reports a grant of 61,804 restricted stock units (RSUs) and a stock option for 92,592 shares with an exercise price of $16.20.

When do Meltzer's RSUs and options vest?

The RSUs vest 25% annually over four years. The option vests 25% after one year and the remaining 75% monthly thereafter, both subject to continued service.

What is the expiration date of the stock option reported on the Form 4?

The stock option has an expiration date of August 26, 2035.

How many shares does Meltzer beneficially own after the reported transactions?

The Form 4 reports 61,804 shares from the RSUs and 92,592 underlying the option as beneficially owned following the transactions.

Does the Form 4 disclose the exercise price for the option?

Yes, the option exercise price is reported as $16.20.