Apellis Pharmaceuticals (APLS) CFO reports 3,856-share tax withholding sale

Rhea-AI Filing Summary

Apellis Pharmaceuticals Chief Financial Officer Timothy Sullivan reported a sale of company common stock. On January 13, 2026, he sold 3,856 shares at a price of $22.1872 per share, a transaction code "S". According to the footnotes, these shares were sold solely to cover tax withholding related to restricted stock units that were released on January 12, 2026, rather than as a discretionary open-market sale.

After this transaction, Sullivan directly held 107,080 shares of Apellis common stock. In addition, 60,396 shares are held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023. A separate footnote explains that Patrick O. Collins is the trustee of this trust and that Sullivan disclaims beneficial ownership of those trust-held shares except to the extent of his pecuniary interest in them.

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^*

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)
01/13/2026

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	01/13/2026		S(1)		3,856	D	$22.1872	107,080	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

Explanation of Responses:

1. This represents shares sold to cover tax withholding on the Restricted Stock Units released on January 12, 2026.

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.

	/s/ David Watson, attorney-in-fact for Timothy Sullivan	01/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Apellis (APLS) report for Timothy Sullivan?

Apellis Pharmaceuticals reported that Chief Financial Officer Timothy Sullivan sold 3,856 shares of common stock on January 13, 2026, coded as an "S" transaction.

Why did the Apellis CFO sell 3,856 shares of common stock?

A footnote states that the 3,856 shares were sold to cover tax withholding on restricted stock units that were released on January 12, 2026.

At what price were the Apellis shares sold in this Form 4 filing?

The reported sale price was $22.1872 per share for the 3,856 shares of Apellis Pharmaceuticals common stock sold by Timothy Sullivan.

How many Apellis shares does Timothy Sullivan hold after this transaction?

Following the reported sale, Timothy Sullivan directly owned 107,080 shares of Apellis Pharmaceuticals common stock, as shown in the filing.

What Apellis shares are held through The Timothy E Sullivan Irrevocable Trust of 2023?

The filing shows 60,396 shares of Apellis common stock held indirectly by The Timothy E Sullivan Irrevocable Trust of 2023. The footnote explains that Timothy Sullivan disclaims beneficial ownership of these shares except for his pecuniary interest.

Does the Form 4 indicate any derivative securities for Apellis (APLS)?

The Form 4 includes a section for derivative securities, but in this excerpt there are no derivative transactions reported; only common stock holdings and the tax-withholding sale are shown.