Apellis amends executive severance plan to accelerate vesting upon change of control in Biogen merger

Apellis Pharmaceuticals, Inc.

Compensation committee approved amendment to Executive Separation Benefits Plan on April 28, 2026, in connection with Biogen merger.
Unvested converted options and RSU awards will accelerate upon termination without cause or for good reason after closing.
'Good Reason' definition modified for C-Level Officers to include changes in scope due to becoming a subsidiary.
Amendment effective upon closing of the merger; applies to each named executive officer.

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