Apellis Pharmaceuticals, Inc. 4

Gerald Chan tendered and cashed out all of his Apellis Pharmaceuticals common stock and in‑the‑money stock options in the Biogen merger, receiving $41.00 per share plus CVRs for stock and intrinsic value plus CVRs for options, with all remaining options cancelled.

On May 14, 2026, Gerald Chan reported the cash‑out and cancellation of his equity holdings in Apellis Pharmaceuticals, Inc. in connection with the closing of its merger with Biogen Inc. Under the merger terms, 25,666 shares of Apellis common stock held directly by Chan, along with several smaller direct positions (3,062; 5,744; 7,961; 3,877; and 3,544 shares), were exchanged for $41.00 per share in cash plus one contingent value right (CVR) per share, with no continuing common stock ownership reported after the transaction. In addition, multiple vested stock options with exercise prices below $41.00 (covering 17,580; 121,894; 14,684; 27,600; and 11,199 shares) were automatically cancelled and converted into cash payments equal to the intrinsic value of each option (Cash Amount minus exercise price) plus one CVR per underlying share, while certain higher‑strike options (including tranches with exercise prices of $47.28, $51.71, $57.20, and $59.86 per share) were cancelled without consideration. These actions reflect the comprehensive clean‑up of Chan’s equity and derivative positions as Apellis became a wholly owned subsidiary of Biogen following completion of the tender offer and merger, leaving him with no remaining Apellis common stock or options reported on the Form 4.

Filing Facts

CIK

1492422

Ticker

APLS

Form

4

Source Type

sec

Accession

0001193125-26-224606

Alert Tier

6