Sullivan Timothy Eugene 4

What Happened

• Timothy E. Sullivan, Chief Financial Officer of Apellis Pharmaceuticals (APLS), sold 10,287 shares on January 22, 2026 at $21.77 per share, generating proceeds of $223,901. The filing indicates the sale was to cover tax withholding on restricted stock units (RSUs) released Jan 21, 2026.

Key Details

• Transaction date and price: 2026-01-22 at $21.77 per share.
• Shares sold and proceeds: 10,287 shares; total proceeds $223,901.
• Reason/footnote: Sale was to cover tax withholding on RSUs released Jan 21, 2026 (Footnote F1).
• Ownership/holding note: The securities are held by The Timothy E Sullivan Irrevocable Trust of 2023; Patrick O. Collins is trustee and Mr. Sullivan disclaims beneficial ownership except to the extent of his pecuniary interest (Footnote F2).
• Filing timeliness: Form filed 2026-01-23 for a 2026-01-22 transaction — appears timely.

Context

• This was a sale to satisfy tax withholding obligations on RSUs, a routine administrative transaction (not necessarily a signal of changed insider sentiment). For retail investors, purchases are generally more informative about confidence than routine sales tied to taxes or vesting.