Cedric Francois - Feb 21, 2023 Form 4 Insider Report for Apellis Pharmaceuticals, Inc. (APLS)

Role: Chief Executive Officer
Signature: /s/ David Watson, attorney-in-fact for Cedric Francois
Stock symbol: APLS
Transactions as of: Feb 21, 2023
Transactions value $: -$93,717
Form type: 4
Date filed: 2/22/2023, 05:40 AM
Previous filing: Feb 14, 2023
Next filing: Mar 1, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APLS	Common Stock	Award	$0	+13.9K	+1.35%	$0.00	1.05M	Feb 21, 2023	Direct	F1
transaction	APLS	Common Stock	Tax liability	-$93.7K	-1.6K	-0.15%	$58.50	1.04M	Feb 21, 2023	Direct	F2
holding	APLS	Common Stock						300K	Feb 21, 2023	Indirect Owner (The Francois Grossi Trust)	F3
holding	APLS	Common Stock						234K	Feb 21, 2023	Indirect Owner (The Francois-DuBois Educational Trust)	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	APLS	Stock Option (Right to Buy)	Award	$0	+19.7K		$0.00	19.7K	Feb 21, 2023	Common Stock	19.7K	$35.46	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person was granted performance-based restricted stock units ("PRSUs") on January 21, 2022, the vesting of which was subject to the attainment of each of the following events: (i) the submission of a new drug application ("NDA") for intravitreal pegcetacoplan with the U.S. Food and Drug Administration ("FDA") for the treatment of geographic atrophy secondary to age-related macular degeneration in the second quarter of 2022; (ii) the acceptance of such NDA with priority review by the FDA; and (iii) receipt of approval of the NDA by the FDA by March 15, 2023 (collectively, the "2022 Performance Condition"). On February 21, 2023, the Compensation Committee determined that the 2022 Performance Condition had been achieved, resulting in the vesting of 3,477 shares of common stock, representing 25% of the shares underlying the PRSUs. The remaining shares underlying the PRSUs vest as to 25% on each anniversary of the grant date thereafter, subject to continued service.
F2	Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of PRSUs.
F3	The securities are held by The Francois Grossi Trust, for which Juliana Grossi, the spouse of the Reporting Person, serves as trustee. The Reporting Person disclaims beneficial ownership over the shares held by the Francois Grossi Trust except to the extent of his pecuniary interest therein.
F4	The securities are held by The Francois-DuBois Educational Trust, for which the Fiduciary Trust Company of New England serves as trustee. The Reporting Person disclaims beneficial ownership over the shares held by The Francois-DuBois Educational Trust except to the extent of his pecuniary interest therein.
F5	The Reporting Person was granted performance-based stock options on January 21, 2022, the vesting of which was subject to the attainment of the 2022 Performance Condition. On February 21, 2023, the Compensation Committee determined that the 2022 Performance Condition had been achieved, resulting in the vesting of 25% of the shares underlying the option. The remaining shares underlying the option vest in equal monthly installments thereafter through the fourth anniversary of the grant date, subject to continued service.