Apellis (APLS) counsel sells shares to cover RSU tax withholding

Rhea-AI Filing Summary

Apellis Pharmaceuticals’ general counsel, David O. Watson, reported selling 2,475 shares of common stock on January 20, 2026 at $19.7929 per share. According to the filing, these shares were sold to cover tax withholding on restricted stock units that were released on January 16, 2026.

After this transaction, Watson beneficially owned 96,363 common shares directly. He also reported indirect holdings, including 10,000 shares in a custodial account for the sole benefit of his minor children, and 50,136 shares held by The David O. Watson Irrevocable Trust of 2023, for which he disclaims beneficial ownership except for any pecuniary interest. The Watson Education Trust reported holding no shares following the reported transactions, with similar beneficial ownership disclaimers.

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^*

Watson David O.

(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)
	General Counsel

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)		2,475	D	$19.7929	96,363	D
Common Stock								10,000	I(2)	Indirect Owner (Custodial Account for minor children)
Common Stock								50,136	I(3)	Indirect Owner (The David O. Watson Irrevocable Trust of 2023)
Common Stock								0	I(4)	Indirect Owner (The Watson Education Trust)

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.

2. This represents a custodial account held by the reporting person for the sole benefit of his minor children.

3. The securities are held by The David O. Watson Irrevocable Trust of 2023. William Zorn is the trustee of The David O. Watson Irrevocable Trust of 2023. The reporting person disclaims beneficial ownership over the shares held by The David O. Watson Irrevocable Trust of 2023 except to the extent of his pecuniary interest therein.

4. The securities are held by The Watson Education Trust (the "Trust"), for which the reporting person serves as trustee. The reporting person disclaims beneficial ownership over the shares held by the Trust except to the extent of his pecuniary interest therein.

	David Watson	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).
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FAQ

What insider transaction did Apellis (APLS) report for David O. Watson?

The filing shows that David O. Watson, general counsel of Apellis Pharmaceuticals, Inc., sold 2,475 shares of common stock on January 20, 2026.

At what price were the Apellis (APLS) shares sold by David O. Watson?

The 2,475 Apellis common shares were sold at a price of $19.7929 per share, as reported in the Form 4.

Why did Apellis’ general counsel sell 2,475 shares on January 20, 2026?

The filing explains that the 2,475 shares were sold to cover tax withholding on restricted stock units that were released on January 16, 2026.

How many Apellis (APLS) shares does David O. Watson own after this transaction?

Following the sale, David O. Watson directly beneficially owned 96,363 Apellis common shares, according to the reported holdings.

What indirect Apellis holdings are associated with David O. Watson?

Indirect interests reported include 10,000 shares in a custodial account for his minor children and 50,136 shares held by The David O. Watson Irrevocable Trust of 2023, over which he disclaims beneficial ownership except for any pecuniary interest.

What is the Watson Education Trust’s Apellis share position in this Form 4?

The Watson Education Trust is shown with 0 shares of Apellis common stock following the reported transactions, and the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.