Apellis Pharmaceuticals (APLS) Form 4 Apellis Pharmaceuticals / Cedric Francois ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Francois Cedric

(Last) (First) (Middle)

C/O APELLIS PHARMACEUTICALS, INC.

100 FIFTH AVENUE.

(Street)

WALTHAM MA 02451

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Apellis Pharmaceuticals, Inc. [ APLS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/21/2023		A		13,908(1)	A	$0.00	1,046,193	D
Common Stock	02/21/2023		F		1,602(2)	D	$58.5	1,044,591	D
Common Stock								300,000	I(3)	Indirect Owner (The Francois Grossi Trust)
Common Stock								234,411	I(4)	Indirect Owner (The Francois-DuBois Educational Trust)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$35.46	02/21/2023		A		19,728		(5)	01/20/2032	Common Stock	19,728	$0.00	19,728	D

Explanation of Responses:

1. The Reporting Person was granted performance-based restricted stock units ("PRSUs") on January 21, 2022, the vesting of which was subject to the attainment of each of the following events: (i) the submission of a new drug application ("NDA") for intravitreal pegcetacoplan with the U.S. Food and Drug Administration ("FDA") for the treatment of geographic atrophy secondary to age-related macular degeneration in the second quarter of 2022; (ii) the acceptance of such NDA with priority review by the FDA; and (iii) receipt of approval of the NDA by the FDA by March 15, 2023 (collectively, the "2022 Performance Condition"). On February 21, 2023, the Compensation Committee determined that the 2022 Performance Condition had been achieved, resulting in the vesting of 3,477 shares of common stock, representing 25% of the shares underlying the PRSUs. The remaining shares underlying the PRSUs vest as to 25% on each anniversary of the grant date thereafter, subject to continued service.

2. Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the vesting of PRSUs.

3. The securities are held by The Francois Grossi Trust, for which Juliana Grossi, the spouse of the Reporting Person, serves as trustee. The Reporting Person disclaims beneficial ownership over the shares held by the Francois Grossi Trust except to the extent of his pecuniary interest therein.

4. The securities are held by The Francois-DuBois Educational Trust, for which the Fiduciary Trust Company of New England serves as trustee. The Reporting Person disclaims beneficial ownership over the shares held by The Francois-DuBois Educational Trust except to the extent of his pecuniary interest therein.

5. The Reporting Person was granted performance-based stock options on January 21, 2022, the vesting of which was subject to the attainment of the 2022 Performance Condition. On February 21, 2023, the Compensation Committee determined that the 2022 Performance Condition had been achieved, resulting in the vesting of 25% of the shares underlying the option. The remaining shares underlying the option vest in equal monthly installments thereafter through the fourth anniversary of the grant date, subject to continued service.

Remarks:

	/s/ David Watson, attorney-in-fact for Cedric Francois	02/21/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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