Maizel Ari 4

What Happened
Ari Maizel, Chief Commercial Officer of Axsome Therapeutics, exercised 7,500 stock options on Jan 21, 2026 at $70.73 per share (total cost $530,475) and promptly sold those 7,500 shares in the open market for a weighted average price of $184.44 per share, generating gross proceeds of $1,383,300. The exercise and subsequent sale were carried out under a pre‑approved 10b5‑1 trading plan.

Key Details

• Transaction date: 2026-01-21.
• Exercise: 7,500 shares exercised at $70.73 each (total $530,475).
• Sale: 7,500 shares sold at a weighted average price of $184.44 (total $1,383,300). Reported sale prices ranged from $183.70 to $184.81.
• Derivative reporting: a separate line shows the derivative conversion (0.00 value) related to the exercised options; the underlying shares were then sold.
• Plan/footnotes: Transaction executed pursuant to a pre‑approved 10b5‑1 plan (F1). Sale represents disposition of shares from the exercise (F2); weighted average sale price across multiple trades noted (F3).
• Shares owned after transaction: not specified in the Form 4 provided.
• Filing timeliness: Report filed on 2026-01-23 for a 2026-01-21 transaction (no late‑filing indication).

Context
This sequence—exercising options and immediately selling the resulting shares—is a common, routine insider action (often described as a cashless exercise) and typically reflects liquidity needs or plan mechanics rather than a directional view on the stock. The 10b5‑1 plan indicates the trades were pre‑arranged according to an established schedule.