Coleman Mark 4

What Happened

• Mark Coleman, a director of Axsome Therapeutics (AXSM), exercised stock options on Feb 20, 2026 to acquire 12,485 shares at $4.95 per share, for a total cash cost of $61,801. The filing shows a related derivative conversion entry at $0 (reflecting conversion of the option into the underlying shares).
• This was an exercise (transaction code M) resulting in acquisition/holding of the underlying shares rather than an immediate sale.

Key Details

• Transaction date: 2026-02-20
• Exercise price / cash paid: $4.95 per share; total $61,801
• Shares acquired: 12,485 shares (no immediate sale reported)
• Filing date: 2026-02-23 (filed within the standard SEC Form 4 window)
• Notable footnotes:
  • F1: The entry represents exercise of stock options prior to expiration, with cash payment and holding of the underlying shares.
  • F2: The acquired shares are held by an entity of which Mr. Coleman has voting and dispositive power; he is deemed an indirect beneficial owner.

Context

• For retail investors: option exercises that result in holding shares are simply conversions of derivatives into stock and are different from purchases funded on the open market; they do show an insider choosing to retain equity exposure.
• The filing does not report immediate sales, and ownership after the transaction is reported as indirect via an entity (per F2).