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

Role: Chief People Officer
Signature: /s/ David Watson, attorney-in-fact for Karen Lewis
Stock symbol: APLS
Transactions as of: Feb 21, 2023
Transactions value $: -$32,351
Form type: 4
Date filed: 2/22/2023, 05:50 AM
Previous filing: Jan 31, 2023
Next filing: Feb 27, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APLS	Common Stock	Award	$0	+6.63K	+18.18%	$0.00	43.1K	Feb 21, 2023	Direct	F1
transaction	APLS	Common Stock	Tax liability	-$32.4K	-553	-1.28%	$58.50	42.5K	Feb 21, 2023	Direct	F2

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	+9.4K		$0.00	9.4K	Feb 21, 2023	Common Stock	9.4K	$35.46	Direct	F3

* 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 1,657 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 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.