Form 4: Apellis GC Sells Shares for Tax Obligations

Apellis Pharmaceuticals' General Counsel, David O. Watson, sold 2,475 shares of common stock at $19.7929 per share to cover tax withholding on restricted stock units.

Summary

• David O. Watson, General Counsel of Apellis Pharmaceuticals, Inc. (APLS), reported a transaction involving company common stock.
• On January 20, 2026, Watson sold 2,475 shares of Apellis common stock at a price of $19.7929 per share.
• This sale was conducted to cover tax withholding obligations associated with Restricted Stock Units (RSUs) that vested on January 16, 2026.
• Following the transaction, Watson directly beneficially owns 96,363 shares of common stock.
• Additionally, Watson indirectly beneficially owns 10,000 shares through a custodial account for minor children and 50,136 shares through The David O. Watson Irrevocable Trust of 2023.
• The transaction was made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax purposes, which is neutral in sentiment and does not indicate positive or negative company performance or prospects.

Positives

• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned sale not based on new material non-public information.

Negatives

• No specific negative aspects are indicated by this routine tax-related sale.

Risks

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

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is a routine event for executives managing their equity compensation and tax obligations, and it does not inherently reflect broader industry trends or competitive positioning for Apellis Pharmaceuticals.

Comparison to Industry Standards

• This is a standard insider transaction (Form 4) for tax withholding purposes, common across all industries for executives receiving equity compensation. It does not provide specific data for comparison to industry-specific benchmarks or projects.

Related Party Transactions

• Indirect beneficial ownership of 10,000 shares in a custodial account for minor children.
• Indirect beneficial ownership of 50,136 shares in The David O. Watson Irrevocable Trust of 2023, for which William Zorn is trustee. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.
• Indirect beneficial ownership of 0 shares in The Watson Education Trust, for which the reporting person serves as trustee. The reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, pre-planned sale for tax purposes and does not signal a change in management's confidence or company fundamentals.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific insider transaction.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing.

Key Dates

Keywords

Apellis Pharmaceuticals, APLS, Insider Trading, Form 4, Stock Sale, General Counsel, David O. Watson, Restricted Stock Units, Tax Withholding, Rule 10b5-1