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

Timothy Eugene Sullivan, CFO of Apellis Pharmaceuticals, sold 3,088 shares of common stock on January 22, 2025, to cover tax withholding obligations related to released Restricted Stock Units.

Summary

• On January 22, 2025, Timothy Eugene Sullivan, the Chief Financial Officer of Apellis Pharmaceuticals, sold 3,088 shares of the company's common stock.
• The sale was executed at a price of $30.4255 per share.
• This transaction was conducted to cover tax withholding obligations associated with Restricted Stock Units that were released on January 21, 2025.
• Following the transaction, Sullivan directly owns 129,211 shares of Apellis Pharmaceuticals.
• Sullivan also indirectly owns 70,396 shares through The Timothy E Sullivan Irrevocable Trust of 2023.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction to cover tax obligations, not indicative of a major shift in the company's prospects or management's confidence.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. This sale appears to be related to tax obligations, which is a common reason for such transactions.

Stakeholder Impact

• The sale of shares by an executive could create short term negative sentiment from shareholders.

Key Dates

Keywords

Apellis Pharmaceuticals, APLS, Timothy Sullivan, CFO, Form 4, Stock Sale, Insider Trading, Restricted Stock Units, Tax Withholding