Minerva Neurosciences awards Kaul 2,328 options

The award’s vesting schedule links portions of the options to consulting service and public disclosures of clinical-trial milestones.

Available on EDGAR 11/03/2026 - 06:06 PM EST Accepted by SEC EDGAR 11/03/2026 - 06:05 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Minerva Neurosciences, Inc. (NERV) director Inderjit Kaul acquired a direct award of 2,328 stock options on November 2, 2026, exercisable at $2.345 per share and expiring November 2, 2036. Twenty-five percent vest on November 14, 2026. Another 45% vest on the tenth day after a public announcement that roluperidone achieved the statistically significant primary endpoint at the 12-week point in its Phase 3 confirmatory schizophrenia trial; the remaining 30% vest on the tenth day after a public announcement of safety data from the 40-week relapse assessment phase. Each vesting is conditioned on continued services under the consulting agreement dated November 14, 2025.

Insider Trade Summary

Grant/Award: 2,328 shares

Grant/Award 1 txn

Insider Kaul Inderjit

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy) F1	2,328	$0.00	$0.00

Holdings After Transaction: Stock Option (right to buy) — 2,328 contracts (Direct)

Footnotes (1)

1. F1. 25% of the option shall vest on November 14, 2026; an additional 45% of the Consultant Option shall vest on the tenth day following the date of the Company'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 Consultant Option shall vest on the tenth day following the date of the Company'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.

Key Figures

Stock options awarded: 2,328 options Exercise price: $2.345 per share Expiration date: November 2, 2036 +3 more

6 metrics

Stock options awarded 2,328 options Awarded November 2, 2026

Exercise price $2.345 per share Stock option award

Expiration date November 2, 2036 Stock option award

Initial vesting 25% Vests November 14, 2026, subject to continued services

Milestone vesting 45% Vests after the specified public announcement, subject to continued services

Safety-data vesting 30% Vests after the specified public announcement, subject to continued services

Key Terms

Consultant Option, primary endpoint, statistically significant basis, relapse assessment phase

4 terms

Consultant Option financial

"an additional 45% of the Consultant Option shall vest"

primary endpoint medical

"the primary endpoint of its Phase 3 confirmatory trial"

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.

statistically significant basis medical

"achieved, on a statistically significant basis"

relapse assessment phase medical

"safety data from the 40-week relapse assessment phase"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many stock options did NERV director Inderjit Kaul receive?

Director Inderjit Kaul received an award of 2,328 stock options with an exercise price of $2.345 per share. The options expire November 2, 2036.

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

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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)
11/02/2026

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)	$2.345	11/02/2026		A		2,328		(1)	11/02/2036	Common Stock	2,328	$0	2,328	D

Explanation of Responses:

1. 25% of the option shall vest on November 14, 2026; an additional 45% of the Consultant Option shall vest on the tenth day following the date of the Company'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 Consultant Option shall vest on the tenth day following the date of the Company'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	11/03/2026
	** 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)