Friedman Bart 4

What Happened Bart Friedman, a director of Ovid Therapeutics (NASDAQ: OVID), was granted 8,789 restricted stock units (RSUs) on April 7, 2026. The award is reported at an acquisition price of $2.56 per share for a total value of $22,500. This was an award (compensation) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-07; filing date: 2026-04-09 (timely filed within the Form 4 window).
• Instrument: Restricted stock units (RSUs) recorded as an acquisition (code A).
• Shares/Value: 8,789 RSUs at $2.56 each; aggregate reported value $22,500.
• Vesting: 25% vested upon grant, then 25% on each of June 30, 2026; Sept 30, 2026; and Dec 31, 2026, subject to continued board service (per filing footnote).
• Purpose: RSUs were issued in lieu of 50% of the director’s annual cash retainer under the issuer’s Non-Employee Director Compensation Policy (per footnote).
• Shares owned after transaction: not specified in the Form 4.

Context RSU grants to directors are common as part of board compensation and do not necessarily signal a personal market bet. Because 25% vested immediately, a portion of the award became the director’s shareholding on grant; the remainder vests in scheduled installments contingent on continued service. This was compensation (not a purchase or sale), so interpret accordingly when assessing insider activity.