TABUTEAU HERRIOT 4
4 · Axsome Therapeutics, Inc. · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
Axsome (AXSM) CEO Tabuteau Sells 49,666 Shares
What Happened
Tabuteau Herriot, CEO of Axsome Therapeutics (AXSM), exercised 49,666 stock options (exercise price $4.95) and immediately sold the 49,666 underlying shares in an open‑market transaction. The exercise cost was $245,847 (49,666 × $4.95) and the sale generated gross proceeds of $11,932,257 (49,666 × weighted average $240.25). The filing also reports the related derivative disposition tied to the option conversion.
Key Details
- Transaction date: 2026-07-01.
- Exercise: 49,666 shares acquired at $4.95 each for $245,847 (code M).
- Sale: 49,666 shares sold at a weighted average $240.25 for $11,932,257 (code S). Sale prices ranged $237.64–$244.71 per footnote.
- Derivative disposition: 49,666 option units reported disposed (code M) reflecting conversion of the options.
- Sale executed pursuant to a pre‑approved 10b5‑1 plan (footnote).
- Exercise was done because the options were reaching their 10‑year expiration (footnote).
- Indirect ownership note: some shares are held by an entity the reporting person controls (footnote).
- Shares owned after the transaction: not specified in this filing.
- Filing date matches transaction date (filed 2026-07-01); no late filing indicated.
Context
This was effectively a cashless exercise followed by an immediate sale: options were exercised (small cash outlay) and the resulting shares were sold under a pre‑arranged 10b5‑1 plan. Such transactions are commonly done to capture remaining option value or to satisfy expiration rules and do not, by themselves, indicate the insider’s ongoing view of the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-07-01$4.95/sh+49,666$245,847→ 56,895 total - Sale
Common Stock
[F2][F3][F4]2026-07-01$240.25/sh−49,666$11,932,257→ 7,229 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F2]2026-07-01−49,666→ 49,664 totalExercise: $240.25From: 2018-03-15Exp: 2027-03-15→ Common Stock (49,666 underlying)
- 7,344,500(indirect: See Footnote)
Common Stock
[F5]
Footnotes (5)
- [F1]Necessary exercise of stock options set to expire due to attainment of the 10-year expiration date of such options.
- [F2]Such transaction was pursuant to a pre-approved 10b5-1 plan.
- [F3]Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options.
- [F4]Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $237.64 and $244.71.
- [F5]Such shares are held by an entity, of which the reporting person has voting and dispositive power, and therefore, the reporting person is deemed to be the indirect beneficial owner of such shares.