Apellis Pharmaceuticals, Inc. 4

David O. Watson, General Counsel of Apellis Pharmaceuticals, Inc., had all of his Apellis common shares and stock options cashed out or cancelled and converted into cash and contingent value rights in connection with Biogen’s acquisition of the company.

On May 14, 2026, David O. Watson, General Counsel of Apellis Pharmaceuticals, Inc., reported the automatic cash-out and cancellation of his equity positions in connection with the closing of Biogen Inc.’s tender offer and merger. All directly and indirectly held common shares (including 144,517 directly held shares, 10,000 shares in a custodial account for his minor children, and 50,136 shares held in The David O. Watson Irrevocable Trust of 2023) were converted into the right to receive $41.00 in cash plus one contingent value right (CVR) per share, and his various restricted stock unit (RSU) awards were similarly converted into contingent rights to receive cash based on the $41.00 per share cash amount plus CVRs, subject to continued service and original vesting schedules. In addition, multiple tranches of vested stock options with exercise prices ranging from $14.95 to $66.30 per share were cancelled: in-the-money options (exercise prices below $41.00) were converted into cash equal to the spread over $41.00 plus CVRs per underlying share, options with exercise prices between $41.00 and $45.00 were converted into CVRs only (with any CVR payout reduced by the excess exercise price over $41.00), and deeply out-of-the-money options (exercise price at or above $45.00) were cancelled for no consideration. As a result of these merger-driven conversions and cancellations, Watson’s reported ownership of Apellis common stock and options is shown as zero shares directly and indirectly, with his economic interest now represented solely by cash and CVR entitlements under the merger agreement.

Filing Facts

CIK

1492422

Ticker

APLS

Form

4

Source Type

sec

Accession

0001193125-26-224583

Alert Tier

5