Form 4: Apellis Pharmaceuticals CFO Exercises and Sells Shares Under 10b5-1 Plan

Timothy Eugene Sullivan, CFO of Apellis Pharmaceuticals, executed a pre-planned transaction involving the exercise of stock options and sale of common stock on April 1, 2024.

Summary

• On April 1, 2024, Timothy Eugene Sullivan, the Chief Financial Officer of Apellis Pharmaceuticals, exercised stock options to acquire 4,000 shares of common stock at a price of $10.03 per share.
• Simultaneously, Sullivan sold 4,000 shares of common stock at a price of $58.66 per share.
• These transactions were executed under a pre-arranged 10b5-1 trading plan established on December 1, 2023.
• Following these transactions, Sullivan directly owns 93,338 shares of Apellis Pharmaceuticals common stock.
• Sullivan also has indirect ownership of 56,232 shares held by The Timothy E Sullivan Irrevocable Trust of 2023.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a pre-planned transaction. The use of a 10b5-1 plan suggests no particular bullish or bearish sentiment.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like the CFO, trade their company's stock. These filings are closely watched by investors for insights into management's perspective on the company's value and future prospects. The use of a 10b5-1 trading plan suggests the transactions were pre-planned and not based on any recent non-public information.

Stakeholder Impact

• The transaction may have a minor impact on shareholders as it involves the sale of shares by a key executive.
• However, the pre-planned nature of the sale mitigates concerns about insider trading or a negative outlook by the CFO.

Key Dates