Form 4: Apellis Pharmaceuticals' General Counsel, David Watson, Reports Stock Sale to Cover Tax Withholding

David Watson, General Counsel of Apellis Pharmaceuticals, reports the sale of 4,965 shares of common stock to cover tax withholding related to restricted stock units.

Summary

• David Watson, General Counsel of Apellis Pharmaceuticals, filed a Form 4 detailing changes in beneficial ownership.
• On January 13, 2025, Watson sold 4,965 shares of Apellis Pharmaceuticals common stock at a price of $28.7021 per share.
• This sale was to cover tax withholding obligations related to restricted stock units released on January 10, 2025.
• Following the transaction, Watson directly owns 107,756 shares of common stock.
• Watson also indirectly owns shares through a custodial account for his son (3,333 shares), The David O. Watson Irrevocable Trust of 2023 (70,136 shares), and The Watson Education Trust (6,667 shares).
• Watson disclaims beneficial ownership of the shares held by The David O. Watson Irrevocable Trust of 2023 and The Watson Education Trust, except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: This is a routine transaction related to tax obligations, and does not necessarily reflect a positive or negative outlook on the company's performance.

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 a sale of shares to cover tax obligations, which is a common practice.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although in this case it is for tax purposes.

Key Dates