TABUTEAU HERRIOT 4

What Happened Tabuteau Herriot, CEO of Axsome Therapeutics (AXSM), received a grant of 24,081 performance stock units (PSUs) reported on Form 4 for the 2026-04-21 transaction date. The award is recorded at $0.00 per unit (no cash exchanged at grant); PSUs are derivative awards that can convert into common shares if performance and service conditions are met.

Key Details

• Transaction date: 2026-04-21; Form 4 filed: 2026-04-23 (timely — within the standard two business days).
• Transaction type: Award/Grant (code A), 24,081 PSUs; reported dollar value at grant: $0.00.
• Each PSU represents a contingent right to one share if vesting conditions are satisfied (Footnote F1).
• Vesting conditions: PSUs vest upon achievement of specified sales and commercial launch milestones and require the reporting person’s continued service at each vesting date (Footnote F2).
• Shares owned after transaction: not disclosed in the provided summary of the filing.

Context This is a performance-based equity award (a derivative grant) rather than an open-market purchase or sale. PSUs have no immediate cash value until and unless the performance and service conditions are met and the units convert into shares. Such awards are common for executive compensation and align pay with company milestones; they do not by themselves indicate an immediate change in insider buying/selling activity.