Minerva (NERV) Director Inderjit Kaul Receives 12,147-Share Award

What Happened Inderjit Kaul, a director of Minerva Neurosciences (NERV), was granted a derivative award on 2026-08-03 covering 12,147 shares (reported at $0.00 per share, total reported value $0). The filing identifies this as a Consultant Option — not an immediate purchase or sale — so no shares were sold and no cash changed hands at grant.

Key Details

• Transaction date: 2026-08-03; reported price: $0.00; amount: 12,147 derivative shares (Consultant Option).
• Shares owned after transaction: not specified in the filed Form 4.
• Vesting (per footnote): 25% vests November 14, 2026; 45% vests 10 days after the company publicly announces a statistically significant primary endpoint for its Phase 3 roluperidone trial at 12 weeks; remaining 30% vests 10 days after public announcement of safety data from the 40-week relapse assessment. All vesting is subject to Kaul providing services under a consulting agreement dated November 14, 2025.
• Filing timeliness: reported on 2026-08-03 for a transaction on 2026-08-03 (no late filing indicated).
• No tax-withholding, 10b5-1 plan, or immediate cashless exercise/sale noted in the filing.

Context This was a grant of a time- and milestone-conditioned derivative (consultant) option rather than an open-market purchase or sale. The award vests partly by date and partly upon clinical trial and safety milestones tied to Minerva’s roluperidone program; such milestones can be material for a biotech, but the grant itself does not change Kaul’s current cash exposure or immediately increase outstanding common shares until options vest/exercised.