Form 4: Apellis General Counsel Sells Shares Under Pre-Arranged Trading Plan

Apellis Pharmaceuticals' General Counsel, David O. Watson, sold 5,000 shares of common stock for $19.55 per share as part of a pre-scheduled 10b5-1 trading plan.

Summary

• David O. Watson, General Counsel of Apellis Pharmaceuticals, Inc. (APLS), disposed of 5,000 shares of common stock.
• The transaction occurred on July 16, 2025, at a price of $19.55 per share.
• This sale was executed pursuant to a Rule 10b5-1 trading plan established on March 3, 2025.
• Following the transaction, Mr. Watson directly owns 128,730 shares.
• Additionally, 10,000 shares are held indirectly in a custodial account for his minor children, and 70,136 shares are held indirectly by The David O. Watson Irrevocable Trust of 2023.

Sentiment

Score: 5

Explanation: The transaction is a pre-scheduled sale under a 10b5-1 plan, which is generally considered neutral as it does not reflect new discretionary selling intent.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not a discretionary sale based on new information, which typically reduces negative signaling.

Negatives

• A reduction in direct beneficial ownership by a key executive, though pre-planned, still represents a decrease in their direct stake in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, but mitigated by the pre-planned nature of the sale.

Key Dates

Keywords

Apellis Pharmaceuticals, APLS, SEC Form 4, insider trading, stock sale, 10b5-1 plan, David O. Watson, General Counsel