Form 4: Apellis Pharmaceuticals' General Counsel, David Watson, Reports Changes in Beneficial Ownership

David Watson, General Counsel of Apellis Pharmaceuticals, reports the sale of shares to cover tax withholding and details indirect ownership through custodial and trust accounts.

Summary

• On January 22, 2025, David Watson, General Counsel of Apellis Pharmaceuticals, reported changes in his beneficial ownership of the company's common stock.
• He sold 3,323 shares at a price of $30.4255 per share to cover tax withholding on restricted stock units.
• Following the transaction, Watson directly owns 144,994 shares of Apellis Pharmaceuticals.
• He also has indirect ownership of 3,333 shares through a custodial account for his son, 70,136 shares through The David O. Watson Irrevocable Trust of 2023, and 6,667 shares through The Watson Education Trust.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to stock transactions by a company insider. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates activity by the General Counsel of Apellis Pharmaceuticals.

Stakeholder Impact

• The sale of shares by a company insider could be perceived negatively by some shareholders, although in this case, it is explicitly stated to cover tax obligations.
• The disclosure of indirect ownership through trusts provides transparency to stakeholders.

Key Dates

Keywords

Apellis Pharmaceuticals, David Watson, beneficial ownership, Form 4, stock sale, restricted stock units, indirect ownership, trust, custodial account