Form 4: Apellis Pharmaceuticals CEO Sells Shares to Cover Tax Obligations

Apellis Pharmaceuticals CEO, Cedric Francois, sold 6,247 shares of common stock to cover tax obligations related to released Restricted Stock Units.

Summary

• Cedric Francois, CEO of Apellis Pharmaceuticals, sold 6,247 shares of common stock at a price of $28.7021 per share on January 13, 2025.
• This sale was to cover tax withholding obligations related to Restricted Stock Units that were released on January 10, 2025.
• Following the transaction, Mr. Francois directly owns 307,415 shares of Apellis common stock.
• He also has indirect ownership of 532,946 shares through The Cedric Francois Irrevocable Trust of 2023 2, 472,065 shares through The Cedric Francois Irrevocable Trust of 2023, 300,000 shares through The Francois Grossi Trust, and 234,411 shares through The Francois-DuBois Educational Trust.
• Mr. Francois disclaims beneficial ownership of the shares held by the various trusts except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the pharmaceutical industry.
• Many executives at comparable companies such as Regeneron, Vertex, and BioMarin also regularly sell shares for similar reasons.

Stakeholder Impact

• The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant.

Key Dates

Keywords

Apellis Pharmaceuticals, Cedric Francois, stock sale, insider trading, Form 4, restricted stock units, tax obligations, beneficial ownership