Form 4: Apellis Pharmaceuticals Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Adam J. Townsend, Chief Commercial Officer of Apellis Pharmaceuticals, sold 2,685 shares of common stock to cover tax withholding on restricted stock units.
Summary
- On January 13, 2025, Adam J. Townsend, Chief Commercial Officer of Apellis Pharmaceuticals, sold 2,685 shares of the company's common stock.
- The sale was executed at a price of $28.7021 per share.
- This transaction was to cover tax withholding obligations related to the release of restricted stock units on January 10, 2025.
- Following the transaction, Townsend directly owns 90,269 shares of Apellis Pharmaceuticals, which includes 501 shares acquired through the Employee Stock Purchase Plan (ESPP) on April 30, 2024.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (sale of shares for tax purposes) and doesn't inherently indicate positive or negative sentiment regarding the company's prospects.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor management's perspective on the company's stock.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| April 30, 2024 | Townsend acquired 501 shares through the Employee Stock Purchase Plan (ESPP). |
| January 10, 2025 | Restricted Stock Units released, triggering tax withholding. |
| January 13, 2025 | Townsend sold 2,685 shares to cover tax withholding obligations. |
| January 14, 2025 | Date of signature for the Form 4 filing. |
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