Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Apellis Pharmaceuticals (Nasdaq: APLS) has granted equity inducement awards to four new employees effective December 2, 2024. The awards, approved under Nasdaq Listing Rule 5635(c)(4), include:

- Options to purchase 27,445 shares at $35.42 per share (closing price on grant date)
- 28,630 restricted stock units (RSUs)

The stock options will vest 25% after one year, followed by monthly vesting of 1/48th of shares over four years. RSUs will vest 25% annually over four years. All vestings are subject to continued employment.

WALTHAM Mass., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced that the company approved the grant of equity awards to four new employees with a grant date of December 2, 2024, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2020 Inducement Stock Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received options to purchase 27,445 shares of Apellis’ common stock and 28,630 restricted stock units (RSUs). The options have an exercise price of $35.42, which is equal to the closing price of Apellis’ common stock on December 2, 2024, the grant date of the options. One-fourth of the shares underlying the employee options will vest on the one-year anniversary of the grant date and thereafter 1/48th of the shares underlying the employee options will vest monthly, such that the shares underlying the options granted to the employees will be fully vested on the fourth anniversary of the grant date, subject to the employees’ continued employment with Apellis on such vesting dates. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date.

About Apellis
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that combines courageous science and compassion to develop life-changing therapies for some of the most challenging diseases patients face. We ushered in the first new class of complement medicine in 15 years and now have two approved medicines targeting C3. These include the first-ever therapy for geographic atrophy, a leading cause of blindness around the world. We believe we have only begun to unlock the potential of targeting C3 across serious retinal, rare, and neurological diseases. For more information, please visit http://apellis.com or follow us on Twitter and LinkedIn.

Apellis Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding plans to submit applications for regulatory approval for the treatment of patients with C3G and IC-MPGN. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including whether systemic pegcetacoplan will receive approval for those indications from the FDA or equivalent foreign regulatory agencies when expected or at all; and any other factors discussed in the “Risk Factors” section of Apellis’ Annual Report on Form 10-K with the Securities and Exchange Commission on February 27, 2024 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Contact:
Tracy Vineis
media@apellis.com
617-420-4839

Investor Contact:
Meredith Kaya
meredith.kaya@apellis.com
617.599.8178

FAQ

How many shares were granted in Apellis Pharmaceuticals' (APLS) December 2024 inducement awards?

Apellis granted options to purchase 27,445 shares and 28,630 restricted stock units (RSUs) to four new employees.

What is the exercise price for Apellis Pharmaceuticals' (APLS) December 2024 stock options?

The stock options have an exercise price of $35.42, equal to the closing price of Apellis' common stock on December 2, 2024.

What are the vesting terms for Apellis Pharmaceuticals' (APLS) December 2024 inducement grants?

Stock options vest 25% after one year, then 1/48th monthly over four years. RSUs vest 25% annually over four years, subject to continued employment.