Form 4: Apellis Pharmaceuticals CEO Cedric Francois Sells Shares to Cover Tax Withholding

CEO Cedric Francois sold 13,551 shares of Apellis Pharmaceuticals to cover tax obligations related to released Restricted Stock Units.

Summary

• On January 22, 2025, Cedric Francois, CEO of Apellis Pharmaceuticals, sold 13,551 shares of common stock at a price of $30.4255 per share.
• The sale was executed to cover tax withholding obligations related to Restricted Stock Units released on January 21, 2025.
• Following the transaction, Francois directly owns 418,519 shares.
• Francois also indirectly owns shares through several trusts, including The Cedric Francois Irrevocable Trust of 2023 2 (532,946 shares), The Cedric Francois Irrevocable Trust of 2023 (472,065 shares), The Francois Grossi Trust (300,000 shares), and The Francois-DuBois Educational Trust (234,411 shares).
• Francois disclaims beneficial ownership of the shares held by these trusts except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a stock sale for tax purposes, which is a neutral event.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. It is important to consider the context of the sale, such as the reason for the sale and the amount of shares sold, in relation to the executive's total holdings.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact given the context.

Key Dates

Keywords

Apellis Pharmaceuticals, Cedric Francois, stock sale, Form 4, beneficial ownership, Restricted Stock Units, tax withholding, trusts