Axsome General Counsel Sells $1.3M in Shares After Options Exercise

Rhea-AI Filing Summary

Hunter R. Murdock, General Counsel of Axsome Therapeutics (AXSM), executed multiple stock option exercises and sales under a pre-approved 10b5-1 plan:

• On June 20, 2025: Exercised 7,500 stock options at $29.91 and immediately sold the shares at an average price of $102.47, realizing approximately $544,200 in gross proceeds
• On June 23, 2025: Exercised 6,014 stock options at $29.91 and sold at an average price of $100.12, generating approximately $421,700 in gross proceeds

Following these transactions, Murdock retains 16,369 stock options exercisable until March 4, 2032. The trades were executed through a completed 10b5-1 trading plan, which provides a safe harbor from insider trading allegations by pre-scheduling trades. The significant spread between exercise price ($29.91) and sale prices ($100-103) indicates substantial share price appreciation since the option grant date.

Insider Trade Summary

Exercise and Sale: 13,514 shares ($966K approx. pre-tax spread)

Exercise and Sale 6 txns

Insider Murdock Hunter R.

Role General Counsel

Sold 13,514 shs ($1.37M)

Approx. gross sale proceeds $1.37M

Approx. exercise cost $404K

Approx. pre-tax spread $966K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	6,014	$0.00	$0.00
Exercise	Common Stock	6,014	$29.91	$180K
Sale	Common Stock	6,014	$100.12	$602K
Exercise	Stock Option (Right to Buy)	7,500	$0.00	$0.00
Exercise	Common Stock	7,500	$29.91	$224K
Sale	Common Stock	7,500	$102.47	$769K

Holdings After Transaction: Stock Option (Right to Buy) — 16,369 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (4)

1. F1. Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed.
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 $101.84 and $103.07
4. F4. Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $100.00 and $100.67.

FAQ

What insider transactions occurred at AXSM on June 20, 2025?

On June 20, 2025, AXSM's General Counsel Hunter Murdock exercised 7,500 stock options at $29.91 per share and subsequently sold all 7,500 shares at an average price of $102.47 per share through a pre-approved 10b5-1 plan.

How many AXSM shares did Hunter Murdock sell on June 23, 2025?

On June 23, 2025, Hunter Murdock exercised 6,014 stock options at $29.91 per share and immediately sold all 6,014 shares at an average price of $100.12 per share through a pre-approved 10b5-1 plan.

What is the exercise price of AXSM stock options held by Hunter Murdock?

The stock options (Right to Buy) held by Hunter Murdock have an exercise price of $29.91 per share, with an expiration date of March 4, 2032.

How many stock options does Hunter Murdock still own in AXSM after these transactions?

After these transactions, Hunter Murdock still owns 16,369 stock options (Right to Buy) in AXSM, down from the original 22,383 options before the exercises.

What was the price range of AXSM shares sold by Hunter Murdock?

On June 20, 2025, shares were sold between $101.84 and $103.07, and on June 23, 2025, shares were sold between $100.00 and $100.67.

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

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Accepted by SEC EDGAR 06/23/2025 - 07:42 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^*

Murdock Hunter R.

(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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

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	06/20/2025		M(1)		7,500	A	$29.91	7,500	D
Common Stock	06/20/2025		S(1)(2)		7,500	D	$102.47(3)	0	D
Common Stock	06/23/2025		M(1)		6,014	A	$29.91	6,014	D
Common Stock	06/23/2025		S(1)(2)		6,014	D	$100.12(4)	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)	$29.91	06/20/2025		M(1)			7,500	03/04/2023	03/04/2032	Common Stock	7,500	$0.00	22,383	D
Stock Option (Right to Buy)	$29.91	06/23/2025		M(1)			6,014	03/04/2023	03/04/2032	Common Stock	6,014	$0.00	16,369	D

Explanation of Responses:

1. Such transaction was pursuant to a pre-approved 10b5-1 plan which has now been completed.

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 $101.84 and $103.07

4. Represents the weighted average sale price of a series of open market transactions with sale prices ranging between $100.00 and $100.67.

	/s/ Hunter Murdock	06/23/2025
	** 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.