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

James Chopas, VP and Chief Accounting Officer of Apellis Pharmaceuticals, sold 783 shares of common stock to cover tax withholding obligations.

Summary

• James Chopas, the VP and Chief Accounting Officer at Apellis Pharmaceuticals, sold 783 shares of the company's common stock on January 13, 2025.
• The sale was executed at a price of $28.7021 per share.
• This transaction was to cover tax withholding obligations related to Restricted Stock Units that were released on January 10, 2025.
• Following the transaction, Mr. Chopas directly owns 37,358 shares of Apellis Pharmaceuticals stock.

Sentiment

Score: 5

Explanation: This is a neutral transaction related to tax obligations and does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for company executives to manage their tax obligations related to stock-based compensation. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across the pharmaceutical industry.
• Many companies use restricted stock units as part of their compensation packages, leading to similar tax-related sales by executives.
• The volume of shares sold is relatively small compared to the total shares held by the executive, which is typical for these types of transactions.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is generally not considered a significant event.

Key Dates

Keywords

Apellis Pharmaceuticals, insider trading, stock sale, James Chopas, tax withholding, restricted stock units, APLS