TABUTEAU HERRIOT 4

What Happened
TABUTEAU HERRIOT, CEO of Axsome Therapeutics (AXSM), exercised stock options and immediately sold the resulting 32,410 shares on Feb 2, 2026. The options were exercised at $8.02 per share (total exercise cost $259,928) and the shares were sold in the open market at a weighted average price of $185.60, generating gross proceeds of $6,015,296 (approximate net proceeds before taxes/fees ≈ $5,755,368). The exercise was necessary because the options were at their 10‑year expiration.

Key Details

• Date of transactions: February 2, 2026.
• Option exercise: 32,410 shares exercised at $8.02 per share (code M).
• Sale: 32,410 shares sold in open market at weighted average $185.60 (range $183.85–$186.89) for $6,015,296 (code S).
• Additional derivative line: the filing shows the conversion/disposition of the derivative instrument associated with the exercised options (code M, $0.00).
• Plan/authorization: Transaction was executed pursuant to a pre‑approved 10b5‑1 trading plan and was completed. The exercise was compelled by the options reaching their 10‑year expiration.
• Shares owned after transaction: Not specified in the provided Form 4 details.
• Filing timeliness: Reported on Feb 2, 2026 (same day), indicating timely filing.
• Indirect holdings: Some shares are held by an entity the reporting person controls, making them an indirect beneficial owner (footnote).

Context
This was a routine cashless exercise and sale: the CEO exercised expiring options and sold the resulting shares immediately under a pre‑approved plan. Such sales under 10b5‑1 plans are pre‑scheduled and do not by themselves indicate a change in insider sentiment.