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On July 14, 2025, Robert M. Jenkins, Executive VP & COO of Essential Properties AGÕæÈ˹ٷ½ty Trust (EPRT), automatically acquired 84 common shares at $0 under a dividend-equivalent adjustment to performance-based RSUs granted in 2022. The award, which will vest on December 31, 2025, raises his direct holding to 35,367 shares. No sales or derivative transactions were reported, and the filing contains no cash consideration or new option grants.

Form 4 filing for Antero Midstream Corp. (AM) discloses that director Brooks J. Klimley acquired 2,042 shares of AM common stock on 07 July 2025. The shares were received at a stated price of $0.00, implying a grant rather than an open-market purchase. Following the transaction, Klimley’s direct beneficial ownership increased to 75,687 shares. No derivative securities were reported.

The filing is routine in nature, reflecting a modest change in insider ownership and does not provide additional financial or strategic information about Antero Midstream.

On 1 July 2025, Apellis Pharmaceuticals (NASDAQ: APLS) filed an 8-K announcing a Royalty Buy-Down Agreement with Swedish Orphan Biovitrum (Sobi).

• Up-front consideration: Sobi will pay Apellis $275 million in cash within five business days of closing.
• Milestone: Up to $25 million becomes payable upon European Medicines Agency (EMA) approval of Aspaveli for C3G and IC-MPGN.
• Royalty reduction: In exchange, Apellis will reduce Sobi’s royalty obligations under their October 2020 collaboration by 90 %, effective immediately.
• Royalty cap: The discount lasts until cumulative reduced royalties equal 1.45× the total amounts paid under the new agreement; thereafter, the original royalty rates resume.
• Lender consent: Sixth Street Lending Partners consented to the deal. As a condition, Apellis extended by one year the period during which prepayment premiums apply on its May 13 2024 credit facility.

The transaction delivers up to $300 million in non-dilutive liquidity, strengthening Apellisâ€� near-term cash position while delaying—but not eliminating—future royalty income from Aspaveli in Sobi territories. The 1.45× cap preserves long-term upside once Sobi recovers its investment. Investors should weigh immediate balance-sheet relief against the temporary 90 % royalty haircut and the extended prepayment-premium window on existing debt.

Apellis Pharmaceuticals, Inc. (APLS) filed a Form 4 disclosing that its Vice President & Chief Accounting Officer, James George Chopas, received a grant of 6,250 shares of common stock in the form of restricted stock units (RSUs) on 18 June 2025. The transaction was coded “A(1),â€� indicating an award under the company’s equity compensation plan at no cash cost to the executive (reported price $0). Following the grant, Chopasâ€� total beneficial ownership increased to 54,205 shares held directly.

The RSUs vest over a two-year period: 50 % on the first anniversary of the grant date and the remaining 50 % on the second anniversary, contingent upon continued employment. No derivative securities were acquired or disposed of, and the filing does not reference any Rule 10b5-1 trading plan. The filing was signed on 20 June 2025 by attorney-in-fact David Watson.

From an investor perspective, this is a routine executive equity award intended to align management incentives with shareholder interests. It does not change the company’s capital structure in a material way and is unlikely to affect near-term financial performance or valuation.