Form 4: Apellis CFO Sells Shares for Tax Withholding
Insider Transaction Report
Apellis Pharmaceuticals' CFO, Timothy Sullivan, sold 3,856 shares of common stock to cover tax obligations related to vested restricted stock units.
Summary
- Timothy Eugene Sullivan, Chief Financial Officer of Apellis Pharmaceuticals, Inc. (APLS), reported a transaction involving the company's common stock.
- On January 13, 2026, Sullivan sold 3,856 shares of common stock at a price of $22.1872 per share.
- The sale was conducted to cover tax withholding obligations associated with Restricted Stock Units (RSUs) that were released on January 12, 2026.
- Following this transaction, Sullivan directly beneficially owns 107,080 shares of common stock.
- Additionally, 60,396 shares are indirectly beneficially owned through The Timothy E Sullivan Irrevocable Trust of 2023, for which Patrick O. Collins serves as trustee.
Sentiment
Score: 5
Explanation: The transaction is a routine, non-discretionary sale to cover tax obligations on vested restricted stock units, which is a standard practice for executive compensation and does not reflect a change in management's outlook on the company's performance or future prospects.
Future Outlook
NA
Management Comments
- The shares were sold to cover tax withholding on the Restricted Stock Units released on January 12, 2026.
Industry Context
NA
Stakeholder Impact
- The transaction is a routine tax-related sale by a corporate officer and is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/12/2026 | Restricted Stock Units (RSUs) were released. |
| 01/13/2026 | Common stock was sold to cover tax withholding on released RSUs. |
| 01/15/2026 | Form 4 was signed by David Watson, attorney-in-fact for Timothy Sullivan. |
Recommendation
holdThe reported transaction is a non-discretionary sale of shares by the CFO solely to cover tax withholding obligations on vested restricted stock units. This is a common and routine event for executive compensation and does not reflect a change in the company's fundamentals or the CFO's confidence in the company. Therefore, it does not warrant a change in investment recommendation based on this filing alone.
Keywords
Apellis Pharmaceuticals, APLS, Timothy Sullivan, CFO, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Restricted Stock Units
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