Apellis CFO gifts 22,192 company shares
Apellis Pharmaceuticals Chief Financial Officer Timothy Eugene Sullivan reported two bona fide gift transfers of common stock.
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Form Type
4
Rhea-AI Filing Summary
Apellis Pharmaceuticals Chief Financial Officer Timothy Eugene Sullivan reported two bona fide gift transfers of common stock. On April 17, 2026, he gifted a total of 22,192 shares, including 11,096 shares transferred to The Timothy E Sullivan Irrevocable Trust of 2023.
After these gifts, the filing shows 71,492 shares held indirectly through the irrevocable trust and 140,945 shares held directly. The footnote states he disclaims beneficial ownership of shares held by the trust except to the extent of his pecuniary interest.
Insider Trade Summary
22,192 shares gifted
Gift
2 txns
Insider
Sullivan Timothy Eugene
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 11,096 | $0.00 | $0.00 |
| Gift | Common Stock | 11,096 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 140,945 shares (Direct);
Common Stock — 71,492 shares (Indirect, Indirect Owner (The Timothy E Sullivan Irrevocable Trust of 2023))
Footnotes (1)
- F1. On April 17, 2026, the reporting person transferred 11,096 shares to 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.
Key Figures
Gifted shares (total): 22,192 shares
Gifted shares per transaction: 11,096 shares
Direct holdings after transactions: 140,945 shares
+2 more
5 metrics
Gifted shares (total)
22,192 shares
Bona fide gifts of common stock on April 17, 2026
Gifted shares per transaction
11,096 shares
Each of two bona fide gift transfers
Direct holdings after transactions
140,945 shares
Common stock held directly by CFO after gifts
Indirect holdings after transactions
71,492 shares
Common stock held through The Timothy E Sullivan Irrevocable Trust of 2023
Gift transaction count
2 transactions
Both coded as bona fide gifts (Code G)
Key Terms
bona fide gift, irrevocable trust, beneficial ownership, indirect ownership, +1 more
5 terms
bona fide gift financial
"Both transactions are described with the code G and the label "Bona fide gift"."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
irrevocable trust financial
"Shares were transferred to The Timothy E Sullivan Irrevocable Trust of 2023."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
beneficial ownership financial
"The reporting person disclaims beneficial ownership over the shares held by the trust."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
indirect ownership financial
"Nature of ownership is listed as Indirect Owner for the trust-held shares."
pecuniary interest financial
"He disclaims beneficial ownership except to the extent of his pecuniary interest therein."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Apellis (APLS) report for its CFO?
Apellis reported that CFO Timothy Eugene Sullivan made two bona fide gift transfers of common stock totaling 22,192 shares. These are non-market gifts, not open-market purchases or sales, and therefore do not directly reflect trading activity in Apellis shares.
Was the Apellis (APLS) CFO’s Form 4 transaction a stock sale?
No. Both reported transactions are coded as bona fide gifts, meaning shares were transferred without sale proceeds. This distinguishes the moves from open-market sales and suggests estate, family, or other non-market transfers rather than a decision to sell shares for cash.
What is The Timothy E Sullivan Irrevocable Trust of 2023 in relation to Apellis (APLS)?
The trust is an entity that now holds 71,492 Apellis shares after receiving 11,096 gifted shares from the CFO. A trustee, Patrick O. Collins, oversees it, and Sullivan disclaims beneficial ownership of those shares except for any pecuniary interest he may have.
Does the Apellis (APLS) CFO’s Form 4 mention beneficial ownership disclaimers?
Yes. The footnote explains that Timothy Eugene Sullivan disclaims beneficial ownership of shares held by The Timothy E Sullivan Irrevocable Trust of 2023, except to the extent of his pecuniary interest. This clarifies how those indirectly held shares are treated for reporting purposes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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