Axsome Therapeutics (AXSM) CCO exercises options and sells 7,500 shares under 10b5-1

Rhea-AI Filing Summary

Axsome Therapeutics Chief Commercial Officer Ari Maizel reports an option exercise and share sale. On January 21, 2026, he exercised a stock option for 7,500 shares of common stock at an exercise price of $70.73 per share. The same day, he sold 7,500 shares of common stock in open-market transactions at a weighted average price of $184.44 per share, fully disposing of the acquired shares.

The filing notes that these transactions were made under a pre-approved Rule 10b5-1 trading plan, which is designed to allow preset trading of shares. Following the option transaction, Maizel beneficially owns 31,210 stock options directly, with no common shares reported as directly owned after the sale.

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

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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 NY 10007

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/21/2026

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

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

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

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	01/21/2026		M(1)		7,500	A	$70.73	7,500	D
Common Stock	01/21/2026		S(1)(2)		7,500	D	$184.44(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	01/21/2026		M(1)			7,500	09/25/2024	09/25/2033	Common Stock	7,500	$0.00	31,210	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 $183.70 and $184.81.

	/s/ Ari Maizel	01/23/2026
	** 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).
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FAQ

What insider transaction did AXSM Chief Commercial Officer Ari Maizel report?

Ari Maizel reported exercising a stock option for 7,500 shares of Axsome Therapeutics common stock at an exercise price of $70.73 per share and then selling 7,500 shares of common stock in the open market.

At what prices did Ari Maizel exercise and sell Axsome Therapeutics (AXSM) shares?

He exercised options at an exercise price of $70.73 per share and sold the resulting 7,500 shares at a weighted average price of $184.44 per share.

Were the AXSM insider transactions by Ari Maizel under a 10b5-1 trading plan?

Yes. The filing states the transactions were made pursuant to a pre-approved Rule 10b5-1 plan, indicating the trades were scheduled in advance.

How many Axsome Therapeutics shares did Ari Maizel own after the reported sale?

After selling 7,500 shares of common stock, the filing shows 0 shares of common stock directly owned, while he continues to hold 31,210 stock options directly.

What stock option position does Ari Maizel hold in Axsome Therapeutics (AXSM)?

Maizel holds a stock option originally covering 7,500 shares of Axsome Therapeutics common stock with an exercise price of $70.73, exercisable from September 25, 2024 until September 25, 2033, and reports 31,210 derivative securities (stock options) directly owned after the transaction.

What does the weighted average sale price of $184.44 mean in the AXSM Form 4?

The filing explains that the $184.44 figure is a weighted average sale price across multiple open-market trades, with individual sale prices ranging from $183.70 to $184.81 per share.