APLS insider Kelley Boucher receives RSUs and options at $28.17 exercise price

Rhea-AI Filing Summary

Apellis Pharmaceuticals insider Kelley Boucher received equity awards on 09/02/2025. The filing shows a grant of 30,476 restricted stock units that vest 25% annually over four years, subject to continued service or termination provisions. Following the grant, Ms. Boucher beneficially owns 97,658 shares of common stock.

The filing also reports a stock option award for 45,766 shares with an exercise price of $28.17, exercisable beginning 09/02/2026 under a four-year vesting schedule and expiring 09/02/2035. The Form 4 was signed by an attorney-in-fact on 09/03/2025.

Positive

• 30,476 restricted stock units granted on 09/02/2025 with clear 25% annual vesting over four years
• 45,766 stock options granted on 09/02/2025 exercisable through 09/02/2035 at a $28.17 exercise price
• Beneficial ownership increased to 97,658 shares following the reported transactions

Negative

• None.

Insights

Corporate Governance Expert

Routine executive compensation grants to align officer incentives with long-term service.

The Form 4 documents standard equity-based awards to the Chief People Officer on 09/02/2025: a time-based restricted stock unit grant of 30,476 RSUs vesting 25% annually and a stock option for 45,766 shares at a $28.17 exercise price with a ten-year term. These vesting schedules are typical for retention and long-term alignment. The disclosure is clear on ownership post-grant and exercise terms; no unusual acceleration or single-trigger change-in-control clauses are reported in the filing text.

Compensation Analyst

Equity awards follow common market structures: RSUs plus long-dated options with phased vesting.

The package combines immediate equity exposure via RSUs and upside via options exercisable through 2035 at $28.17. The RSU vesting of 25% per year and option vesting with 25% after one year then monthly thereafter are conventional and indicate a multi-year retention focus. The filing specifies post-transaction beneficial ownership of 97,658 shares and confirms standard service conditions for vesting.

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^*

Boucher Kelley

(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 People Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		A(1)		30,476	A	$0	97,658	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)	$28.17	09/02/2025		A		45,766		(2)	09/02/2035	Common Stock	45,766	$0	45,766	D

Explanation of Responses:

1. This restricted stock unit was granted on September 2, 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 September 2, 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 Kelley Boucher	09/03/2025
	** 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 Kelley Boucher (APLS) receive on 09/02/2025?

The filing shows a grant of 30,476 restricted stock units and a stock option for 45,766 shares with a $28.17 exercise price.

How do the RSUs granted to Kelley Boucher vest?

The RSUs vest 25% annually over four years, subject to continued service as an officer or specified termination provisions.

When can Kelley Boucher exercise the stock options and when do they expire?

The option vests over four years (25% after one year then monthly thereafter) and the option expires on 09/02/2035.

What was Kelley Boucher's beneficial ownership after the transactions?

Following the reported transactions, Kelley Boucher beneficially owned 97,658 shares of common stock.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by an attorney-in-fact, David Watson, on 09/03/2025.