Jacobson Mark L. 4

What Happened
Mark L. Jacobson, Chief Operating Officer of Axsome Therapeutics (AXSM), exercised 35,378 stock options (exercise price $2.85) and immediately sold those 35,378 shares in the open market. The exercise cost was $100,827 and the shares were sold at a weighted average price of $161.88 for total proceeds of approximately $5,726,991.

Key Details

• Transaction date: February 26, 2026; Form 4 filed February 27, 2026 (timely).
• Exercise (code M): 35,378 shares acquired at $2.85 each — total outlay $100,827.
• Sale (code S): 35,378 shares sold at a weighted avg price of $161.88 — proceeds ~$5,726,991. Sale prices ranged between $160.10 and $163.42.
• Additional derivative entry (code M @ $0.00) reflects the underlying shares from the option exercise that were subsequently disposed.
• Footnotes: F1 — exercise was necessary because options reached their 10‑year expiration; F2 — sale executed under a pre‑approved 10b5‑1 plan; F3 — sale represents the subsequent sale of the shares from the exercise; F4 — sale price is a weighted average of multiple trades.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context
This was an option exercise followed by an immediate sale (a cashless/offsetting transaction): the insider exercised options and then sold the resulting shares under a pre‑arranged 10b5‑1 plan. Such transactions are commonly planned for tax or option‑expiration reasons and do not necessarily indicate a change in personal conviction about the company.