MindMed (MNMD) insider plans sale of 11,278 vested shares via Morgan Stanley

Rhea-AI Filing Summary

Mind Medicine (MNMD) Form 144 notice discloses a proposed sale of 11,278 common shares by an insider through Morgan Stanley Smith Barney, with an aggregate market value of $110,216.51. The filer indicates the shares were acquired on 09/25/2025 as restricted stock vesting under a registered plan and the intended method of payment is compensation. The sale is listed with an approximate sale date of 09/25/2025 on NASDAQ. The filing also reports a prior sale by Mark Sullivan of 11,491 shares on 06/25/2025 for $78,169.83. The notice includes the standard insider representation about lack of undisclosed material information.

Insights

Securities Analyst

TL;DR: Insider filing shows a routine disposition of vested restricted shares through a broker, with prior recent sale by a named insider.

The Form 144 details a planned sale of 11,278 shares valued at $110,216.51, acquired via restricted stock vesting on the same date and to be sold through Morgan Stanley Smith Barney on NASDAQ. The transaction appears administrative—monetizing vested compensation rather than indicating external financing or distress. The filing also discloses a prior sale by Mark Sullivan on 06/25/2025 of 11,491 shares for $78,169.83, which may reflect ongoing insider liquidity activity. No financial performance metrics, material corporate actions, or disclosures of nonpublic adverse information are present in the filing text.

Corporate Governance Specialist

TL;DR: This is a standard Rule 144 notice for sale of vested shares, complying with disclosure and representation requirements.

The document identifies the nature of acquisition as restricted stock vesting under a registered plan and records that payment is compensation-related. The filer makes the customary representation regarding lack of undisclosed material adverse information, and the form lists broker details and sale timing. From a governance perspective, the filing documents compliance with resale notification rules but does not disclose motive, ownership percentage changes, or other governance events.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	11278	110216.51	76087943	09/25/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/25/2025	Restricted stock vesting under a registered plan	Issuer			11278	09/25/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MARK SULLIVAN One World Trade Center, Suite 8500 New York NY 10007	Common	06/25/2025	11491	78169.83

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the MNMD Form 144 disclose about the proposed sale?

The filing shows a proposed sale of 11,278 common shares through Morgan Stanley Smith Barney with an aggregate market value of $110,216.51, planned for 09/25/2025 on NASDAQ.

How were the shares being sold acquired according to the filing?

The shares were acquired on 09/25/2025 as restricted stock vesting under a registered plan, and payment is listed as compensation.

Does the Form 144 report any recent insider sales for MNMD?

Yes. The filing reports that Mark Sullivan sold 11,491 shares on 06/25/2025 for $78,169.83.

Which broker is handling the proposed sale listed in the filing?

The broker named is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, New York, NY.

Does the filing state there is any undisclosed material adverse information?

The signer represents that they do not know any material adverse information about the issuer that has not been publicly disclosed.