Axsome (AXSM) COO Mark Jacobson Exercises Options, Sells Shares

What Happened

• Mark L. Jacobson, Chief Operating Officer of Axsome Therapeutics (AXSM), exercised 10,000 stock options on Sep 3, 2026 at an exercise price of $12.95 per share (cost $129,500) and the underlying 10,000 shares were subsequently sold in the open market for a weighted-average price of $208.65, generating approximately $2,086,500 in proceeds. The filing also shows a $0 disposition entry for the derivative instrument reflecting conversion of the options into shares.

Key Details

• Transaction date: 2026-09-03.
• Option exercise: 10,000 shares at $12.95 each; total cost $129,500 (footnote: options were held ~7 years and exercised prior to their 10‑year expiration).
• Sale: 10,000 shares disposed at a weighted-average price of $208.65 for total proceeds of ~$2,086,500 (sale prices ranged $206.41–$210.34).
• Sale was executed pursuant to a pre‑approved 10b5‑1 trading plan.
• The $0 disposition of the derivative reflects conversion/exercise of the option instrument into underlying shares.
• Filing timing: report filed on 2026-09-03 (same day as the transactions), indicating timely reporting in this filing. The filing did not disclose total shares owned by the insider after these transactions.

Context

• This is an exercise of long-held options followed by an immediate open‑market sale of the underlying shares (effectively a same‑day exercise and sale). Such transactions are often planned for tax or liquidity reasons and, in this case, were executed under a pre-approved 10b5‑1 plan. The sale does not necessarily indicate management sentiment about the company; it documents conversion of options into cash.