Apellis Pharmaceuticals, Inc. 4

Chief Medical Officer Caroline Baumal tendered and effectively disposed of 86,525 shares of Apellis Pharmaceuticals common stock and had her RSUs and stock options cashed out or cancelled for cash plus CVRs in connection with Biogen’s acquisition, leaving her with no remaining direct share ownership.

On May 14, 2026, in connection with the closing of Biogen Inc.’s acquisition of Apellis Pharmaceuticals, Inc., Chief Medical Officer Caroline Baumal’s equity in Apellis was fully cashed out and her derivative awards were cancelled or converted under the merger terms. A total of 86,525 shares of Apellis common stock previously held directly were tendered and exchanged for $41.00 in cash plus one non‑transferable contingent value right (CVR) per share, resulting in no remaining direct common stock ownership. In addition, multiple restricted stock unit awards (including time‑based and performance‑based RSUs granted in January 2026 with a certified 200% of target payout) were cancelled and converted into cash‑and‑CVR contingent rights that will vest on the same service‑based schedule as the prior RSUs, removing performance conditions but not accelerating vesting. Several blocks of common stock associated with RSU settlements (41,250 shares and 26,396 shares, among others) were reported as acquired and then disposed of or converted in full as part of the transaction, likewise resulting in zero residual holdings for those awards. Separately, vested or transaction‑vested stock options with exercise prices below $41.00 (notably tranches for 82,500 shares at $19.39, 49,000 shares at $50.28, and 37,000 shares at $66.30, as reported in the derivatives table) were cancelled in exchange for cash equal to the in‑the‑money value (for those below $41) plus CVRs, while underwater options at or above $45.00 were cancelled without consideration. After giving effect to the tender offer and merger, Baumal no longer directly owns Apellis common stock, and her remaining economic exposure is via the cash and CVR rights tied to previously granted equity awards rather than ongoing equity ownership in a publicly traded issuer.

Filing Facts

CIK

1492422

Ticker

APLS

Form

4

Source Type

sec

Accession

0001193125-26-224577

Alert Tier

6