LEVIN JEREMY M 4

What Happened

• Jeremy M. Levin, Executive Chairman and Director of Ovid Therapeutics (OVID), reported exercising a derivative (Series A warrant/option) to acquire 47,333 shares on 2026-03-23, paying $1.40 per share for a cash outlay of $66,266. The filing also shows a corresponding derivative conversion/disposition of 47,333 units at $0.00. No open-market sale of the newly issued shares is reported.

Key Details

• Transaction date: 2026-03-23; Form 4 filed 2026-03-25.
• Acquisition: 47,333 shares at $1.40 each, total $66,266 (transaction code M = exercise/conversion of derivative).
• Disposition entry: 47,333 units at $0.00 reported (derivative conversion/disposition).
• Ownership after transaction: Securities are reported as owned directly by Divo Holdings, LLC. The reporting person disclaims beneficial ownership of those shares.
• Footnotes:
  • F1: Divo Holdings, LLC owns the reportable securities; Levin disclaims beneficial ownership; Levin's spouse is manager of Divo.
  • F2: Each Series A Warrant became immediately exercisable following stockholder approval on December 11, 2025.
• Filing timeliness: Form filed two days after the transaction date; filing does not indicate a late report.

Context

• Code M indicates an exercise or conversion of a derivative (here, Series A warrants that became exercisable in December 2025). Levin paid cash to exercise the warrants; there is no indication in the filing that the shares were sold in the open market (no sale proceeds reported).
• Note the disclaimed beneficial ownership and that the shares are held by an entity managed by Levin’s spouse; that relationship can affect how the trade is interpreted by investors.