Axsome CCO sells 7,500 shares after option exercise

Axsome Therapeutics’ Chief Commercial Officer Ari Maizel reported an exercise-and-sell transaction involving 7,500 shares of common stock.

Rhea-AI Filing Summary

Axsome Therapeutics’ Chief Commercial Officer Ari Maizel reported an exercise-and-sell transaction involving 7,500 shares of common stock. He exercised stock options to acquire 7,500 shares at $70.73 per share, then sold the same 7,500 shares in open-market trades at a weighted average price of $182.42 per share.

The filing notes these sales were made under a pre-approved Rule 10b5-1 trading plan, indicating they were pre-scheduled rather than timed discretionarily. Following the transactions, Maizel reported no directly held common shares and 23,710 stock options (right to buy) remaining outstanding.

Insider Trade Summary 10b5-1

Exercise and Sale: 7,500 shares ($838K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Maizel Ari

Role Chief Commercial Officer

Sold 7,500 shs ($1.37M)

Approx. gross sale proceeds $1.37M

Approx. exercise cost $530K

Approx. pre-tax spread $838K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	7,500	$0.00	$0.00
Exercise	Common Stock	7,500	$70.73	$530K
Sale	Common Stock	7,500	$182.42	$1.37M

Holdings After Transaction: Stock Option (Right to Buy) — 23,710 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (3)

1. F1. Such transaction was pursuant to a pre-approved 10b5-1 plan.
2. F2. Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options.
3. F3. Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $181.01 and $184.28.

Key Figures

Shares sold: 7,500 shares Weighted average sale price: $182.42 per share Option exercise price: $70.73 per share +3 more

6 metrics

Shares sold 7,500 shares Common stock sold in open market on April 22, 2026

Weighted average sale price $182.42 per share Open-market sales, prices from $181.01 to $184.28

Option exercise price $70.73 per share Stock option (right to buy) for 7,500 shares

Options exercised 7,500 options Stock options converted into common shares on April 22, 2026

Options remaining 23,710 options Stock Option (Right to Buy) outstanding after exercise

Option expiration date September 25, 2033 Expiration for Stock Option (Right to Buy)

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy), open market transactions, weighted average sale price

4 terms

Rule 10b5-1 trading plan regulatory

"Such transaction was pursuant to a pre-approved 10b5-1 plan."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

open market transactions financial

"series of open market transactions with sale prices ranging"

Open market transactions are the buying and selling of a company’s shares or other securities conducted on public exchanges or through the wider market rather than through private deals or negotiated placements. They matter to investors because these trades change supply and demand in real time—like shoppers affecting a store’s inventory—and so can move prices, signal management or investor sentiment, affect liquidity, and alter ownership stakes that influence future returns and risk.

weighted average sale price financial

"Represents the weighted average sale price of a series"

FAQ

What insider transaction did Axsome (AXSM) report for Ari Maizel?

Axsome reported that Chief Commercial Officer Ari Maizel exercised options for 7,500 shares, then sold those 7,500 common shares in open-market trades. The activity reflects an exercise-and-sell pattern rather than an open-market purchase of additional shares.

How many Axsome (AXSM) shares did Ari Maizel sell and at what price?

Ari Maizel sold 7,500 shares of Axsome common stock in open-market transactions at a weighted average sale price of $182.42 per share, with individual sale prices ranging from $181.01 to $184.28 according to the Form 4 footnotes.

What stock options did Ari Maizel exercise in this Axsome (AXSM) Form 4?

Maizel exercised stock options (right to buy) covering 7,500 shares of Axsome common stock at an exercise price of $70.73 per share. These options were part of a grant expiring on September 25, 2033, with 23,710 options remaining after the exercise.

Was Ari Maizel’s Axsome (AXSM) share sale under a Rule 10b5-1 plan?

Yes. The Form 4 footnotes state the sale transaction was conducted pursuant to a pre-approved Rule 10b5-1 trading plan. Such plans schedule trades in advance, so the timing of these sales is pre-arranged rather than based on short-term market developments.

What are Ari Maizel’s remaining Axsome (AXSM) holdings after this Form 4?

After these transactions, Maizel reported no directly held Axsome common shares and 23,710 stock options (right to buy) remaining. These options give him the right to purchase Axsome common stock at specified exercise terms through their stated expiration date.

What does the combination of M and S codes mean in this Axsome (AXSM) Form 4?

The M code shows Maizel exercised derivative securities (stock options) to acquire 7,500 shares, while the S code shows he sold 7,500 common shares. Together they indicate an exercise-and-sell sequence, converting options into cash while not increasing direct share ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/23/2026 - 09:01 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Maizel Ari

(Last) (First) (Middle)

C/O AXSOME THERAPEUTICS, INC.

ONE WORLD TRADE CENTER, 29TH FLOOR

(Street)

NEW YORK NEW YORK 10007

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Axsome Therapeutics, Inc. [ AXSM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/22/2026		M(1)		7,500	A	$70.73	7,500	D
Common Stock	04/22/2026		S(1)(2)		7,500	D	$182.42(3)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$70.73	04/22/2026		M(1)			7,500	09/25/2024	09/25/2033	Common Stock	7,500	$0.00	23,710	D

Explanation of Responses:

1. Such transaction was pursuant to a pre-approved 10b5-1 plan.

2. Represents the subsequent sale of the underlying shares of the aforementioned exercise of stock options.

3. Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $181.01 and $184.28.

	/s/ Ari Maizel	04/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)