Form 4: Apellis CEO Sells Shares for Tax Obligations

Apellis Pharmaceuticals CEO Cedric Francois sold 8,182 shares of common stock to cover tax withholding on recently released Restricted Stock Units.

Summary

• Cedric Francois, CEO and Director of Apellis Pharmaceuticals, Inc., sold 8,182 shares of common stock.
• The transaction occurred on January 20, 2026, at a price of $19.7929 per share.
• The sale was executed to cover tax withholding obligations related to Restricted Stock Units that vested on January 16, 2026.
• Following this transaction, Cedric Francois directly owns 313,237 shares and indirectly owns 1,314,422 shares through various trusts.

Sentiment

Score: 5

Explanation: The transaction is a routine sale to cover tax obligations on vested equity, which is a neutral event. It does not indicate a change in management's confidence in the company's future prospects.

Positives

• The sale is a routine transaction for tax purposes, indicating the vesting of Restricted Stock Units which is a form of compensation.

Negatives

• No specific negative aspects are identified as the sale is for tax withholding purposes.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

N/A

Industry Context

This is a routine insider transaction for tax purposes and does not provide specific insights into broader industry trends or competitive landscape.

Comparison to Industry Standards

• N/A

Related Party Transactions

• Cedric Francois disclaims beneficial ownership over shares held by The Cedric Francois Irrevocable Trust of 2023 2, The Cedric Francois Irrevocable Trust of 2023, The Francois Grossi Trust, and The Francois-DuBois Educational Trust, except to the extent of his pecuniary interest therein. These trusts are considered related parties due to his relationship with them or their trustees (e.g., spouse).

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine, relatively small sale for tax purposes by an insider.
• Indicates the vesting of equity compensation for the CEO, which is a positive for the executive.

Key Dates

Keywords

Apellis Pharmaceuticals, APLS, Cedric Francois, Form 4, Insider Trading, Stock Sale, Tax Withholding, Restricted Stock Units, CEO, Director