[Form 4] Minerva Neurosciences, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Minerva Neurosciences director Inderjit Kaul received a stock option grant for 12,169 shares of Common Stock at an exercise price of $6.03 per share. The option expires on March 30, 2036 and is structured as performance- and time-based compensation, not an open-market share purchase or sale.

According to the vesting terms, 25% of the option vests on November 14, 2026. An additional 45% vests on the tenth day after Minerva publicly announces that its Phase 3 confirmatory trial of roluperidone in schizophrenia has achieved the primary endpoint at the 12-week timepoint on a statistically significant basis. The remaining 30% vests on the tenth day after Minerva publicly announces safety data from the 40-week relapse assessment phase, provided Kaul is providing services under a consulting agreement dated November 14, 2025 on each vesting date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kaul Inderjit

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	12,169	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 12,169 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Option grant size: 12,169 shares Exercise price: $6.03 per share Post-grant derivative holdings: 12,169 options +4 more

7 metrics

Option grant size 12,169 shares Stock Option (right to buy) underlying Common Stock

Exercise price $6.03 per share Conversion or exercise price of the stock option

Post-grant derivative holdings 12,169 options Total derivative shares following transaction

Option expiration March 30, 2036 Expiration date of stock option award

Time-based vesting tranche 25% of options Vests on November 14, 2026

Primary endpoint vesting tranche 45% of options Vests after Phase 3 primary endpoint at 12 weeks

Safety data vesting tranche 30% of options Vests after 40-week relapse safety data announcement

Key Terms

Stock Option (right to buy), Phase 3 confirmatory trial, primary endpoint, 40-week relapse assessment phase, +1 more

5 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

Phase 3 confirmatory trial medical

"Phase 3 confirmatory trial of roluperidone in schizophrenia"

primary endpoint medical

"achieved, on a statistically significant basis, the primary endpoint"

The primary endpoint is the single main result a clinical study is designed to measure to decide if a treatment works, like the finish line in a race that tells you who won. Investors care because meeting or missing this goal drives regulatory decisions, future sales expectations and stock value — it turns trial data into a clear yes-or-no signal about a drug’s commercial prospects.

40-week relapse assessment phase medical

"public announcement of safety data from the 40-week relapse assessment phase"

consulting agreement financial

"providing services pursuant to that certain consulting agreement dated November 14, 2025"

Form 4 Insider Transactions: What Each Field Means →

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).

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^*

Kaul Inderjit

(Last) (First) (Middle)

C/O MINERVA NEUROSCIENCES, INC.

1500 DISTRICT AVENUE

(Street)

BURLINGTON MASSACHUSETTS 01803

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Minerva Neurosciences, Inc. [ NERV ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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)	$6.03	03/31/2026		A		12,169		(1)	03/30/2036	Common Stock	12,169	$0	12,169	D

Explanation of Responses:

1. 25% of the option shall vest on November 14, 2026; an additional 45% of the option shall vest on the tenth day following the date of the Issuer's public announcement that it has achieved, on a statistically significant basis, the primary endpoint of its Phase 3 confirmatory trial of roluperidone in schizophrenia at the 12-week timepoint; and the remaining 30% of the option shall vest on the tenth day following the date of the Issuer's public announcement of safety data from the 40-week relapse assessment phase; provided, however, in each case, that the Reporting Person is providing services pursuant to that certain consulting agreement dated November 14, 2025 on each such vesting date.

	/s/ Frederick Ahlholm, Attorney-in-Fact	04/01/2026
	** 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)