TABUTEAU HERRIOT 4

What Happened Tabuteau Herriot, Chief Executive Officer of Axsome Therapeutics (AXSM), exercised stock options and immediately sold the resulting 49,670 shares. He paid $4.95 per share to exercise (total cost $245,867) and sold the shares in the open market at a weighted average price of $241.01, generating gross proceeds of approximately $11,970,967. The option exercise was necessary due to the options reaching their 10‑year expiration.

Key Details

• Transaction date: 2026-06-09
• Exercise: 49,670 shares at $4.95/share (total $245,867) — code M (exercise)
• Sale: 49,670 shares sold at a weighted average $241.01/share (proceeds ≈ $11,970,967) — code S
• Sale price range reported: $236.11 to $244.13 (weighted average $241.01)
• Plan/authorization: Sale executed pursuant to a pre‑approved 10b5‑1 plan
• Notes: Exercise described as necessary because options were reaching their 10‑year expiration (F1); the derivative (option) was converted/cancelled in the process (F3)
• Shares owned after transaction: not specified in the provided filing excerpt
• Filing timeliness: Reported with transaction date 2026-06-09 (no late‑filing indication in provided data)

Context This was an exercise-and-sell (a common cashless exercise) where the insider exercised near-expiring options and immediately sold the shares under a 10b5‑1 plan, turning an initial outlay (~$246k) into roughly $12M in gross proceeds. Footnotes indicate some shares may be held indirectly by an entity controlled by the reporting person (F5). Such routine, plan-driven sales are not uncommon and are procedural rather than an explicit statement of the insider’s view on the stock.