Apellis Pharmaceuticals, Inc. 4

CFO Timothy Eugene Sullivan’s Apellis common stock, RSUs, and stock options were fully cashed out or cancelled in connection with Biogen’s $41.00‑per‑share plus CVR acquisition of Apellis, leaving him with no remaining Apellis share ownership.

On May 14, 2026, Apellis Pharmaceuticals’ CFO, Timothy Eugene Sullivan, reported the cash‑out and cancellation of his equity holdings in connection with Biogen’s acquisition of Apellis. All 140,945 shares of common stock held directly by Sullivan and 71,492 shares held indirectly through The Timothy E Sullivan Irrevocable Trust of 2023 were converted into the right to receive $41.00 in cash plus one contingent value right (CVR) per share under the merger agreement, after which his beneficial ownership in those shares went to zero. In addition, multiple restricted stock unit awards and performance‑based RSUs (reported in aggregated blocks of 41,250, 30,620, 29,070, and 58,140 shares, among others) were automatically cancelled and converted into contingent cash and CVR entitlements tied to the merger consideration, subject to continued service and time‑based vesting rather than future performance hurdles. Concurrently, Sullivan’s outstanding stock options with exercise prices ranging from $10.03 to $66.30 per share, representing blocks such as 232,903, 84,946, 23,958, 82,500, 60,242, 70,125, 45,000, 43,183 and 34,533 underlying common shares, were terminated: in‑the‑money and certain at‑the‑money options were cashed out for the spread over $41.00 plus CVRs per underlying share, while deeply out‑of‑the‑money options at or above $45.00 were cancelled without consideration. As a result of these merger‑driven conversions, Sullivan no longer directly or indirectly holds Apellis common stock or stock options, and his economic interest is now solely through the cash consideration received and his ongoing rights under the CVRs and converted RSU arrangements.

Filing Facts

CIK

1492422

Ticker

APLS

Form

4

Source Type

sec

Accession

0001193125-26-224615

Alert Tier

5