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

Apellis Pharmaceuticals' Chief Financial Officer, Timothy Eugene Sullivan, sold 546 shares of common stock to cover tax obligations related to restricted stock units.

Summary

• Timothy Eugene Sullivan, the Chief Financial Officer of Apellis Pharmaceuticals, sold 546 shares of common stock on January 29, 2025.
• The sale was executed at a price of $29.5236 per share.
• This transaction was to cover tax withholding obligations related to restricted stock units that vested on January 28, 2025.
• Following the transaction, Sullivan directly owns 128,665 shares of Apellis common stock.
• Sullivan also has indirect ownership of 70,396 shares held by The Timothy E Sullivan Irrevocable Trust of 2023.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's performance.

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.
• Similar transactions are regularly reported by executives at companies like Regeneron, Vertex, and Biogen.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Apellis Pharmaceuticals, APLS, insider trading, stock sale, CFO, Timothy Eugene Sullivan, restricted stock units, tax withholding