Form 4: Apellis Pharmaceuticals' Chief Scientific Officer Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Pascal Deschatelets, Chief Scientific Officer of Apellis Pharmaceuticals, exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan on April 8, 2024.
Summary
- On April 8, 2024, Pascal Deschatelets, the Chief Scientific Officer of Apellis Pharmaceuticals, exercised stock options to acquire 69,107 shares of common stock at a price of $3.76 per share.
- Simultaneously, Deschatelets sold 64,379 shares at a weighted average price of $54.1165 and 4,728 shares at a weighted average price of $54.9152.
- These transactions were executed under a pre-arranged 10b5-1 trading plan established on December 8, 2023.
- Following these transactions, Deschatelets beneficially owns 1,115,983 shares of Apellis Pharmaceuticals' common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.
Positives
- The transactions were executed under a pre-arranged 10b5-1 trading plan, which can mitigate concerns about insider trading.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. The use of a 10b5-1 plan is a common method for executives to sell shares without raising concerns about insider trading.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current insider information.
Key Dates
| Date | Description |
|---|---|
| 02/08/2016 | Date the stock option was granted. |
| 12/08/2023 | Date of the 10b5-1 trading plan. |
| 02/07/2026 | Expiration date of the stock option. |
| 04/08/2024 | Date of the stock option exercise and share sales. |
| 04/09/2024 | Date of the Form 4 filing. |
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