Apellis Pharmaceuticals, Inc. 4

Keli Walbert’s Apellis common shares, RSU-based equity, and in-the-money stock options were all cashed out or canceled for cash and CVRs at the $41.00-per-share merger price in connection with Biogen’s acquisition of Apellis.

On May 14, 2026, in connection with the closing of Biogen Inc.’s acquisition of Apellis Pharmaceuticals, Inc., reporting person Keli Walbert had all remaining equity interests in Apellis effectively cashed out or canceled pursuant to the merger agreement. A total of 17,051 shares of common stock previously held directly were exchanged for $41.00 per share in cash plus one contingent value right (CVR) per share and are now shown as disposed of in the Form 4. In addition, several blocks of restricted stock units or similar equity-based holdings corresponding to 8,332, 664, and 7,297 shares of common stock were canceled and converted into the right to receive cash based on the $41.00 cash amount and CVRs, subject to vesting and continued service conditions as specified in the merger agreement. Two tranches of vested, in-the-money stock options—14,684 options with a $25.12 exercise price and 15,388 options with a $33.00 exercise price—were also canceled and converted into cash equal to the intrinsic value of the options (the spread between $41.00 and the exercise price, multiplied by the number of options) plus one CVR per underlying share. Following these transactions, Walbert no longer holds Apellis common stock or options, as Apellis became a wholly owned subsidiary of Biogen.

Filing Facts

CIK

1492422

Ticker

APLS

Form

4

Source Type

sec

Accession

0001193125-26-224601

Alert Tier

6