Form 4: Axsome Therapeutics Director Sells Shares Under Pre-Arranged 10b5-1 Plan

Mark Coleman, a Director at Axsome Therapeutics, sold a total of 7,500 shares of common stock over two days in late May, pursuant to a pre-approved 10b5-1 trading plan.

Summary

• Mark Coleman, a Director of Axsome Therapeutics, Inc. (AXSM), reported the sale of common stock.
• On May 27, 2025, Mr. Coleman sold 3,750 shares of common stock at a weighted average price of $105.47 per share. The sale prices ranged from $104.75 to $106.50.
• On May 28, 2025, an additional 3,750 shares of common stock were sold at a weighted average price of $103.43 per share. The sale prices ranged from $102.71 to $104.38.
• Both transactions were sales of underlying shares from previously exercised stock options and were conducted pursuant to a pre-approved Rule 10b5-1 trading plan.
• Following these transactions, Mr. Coleman directly beneficially owns 46,637 shares of common stock.
• Additionally, Mr. Coleman indirectly beneficially owns 403,856 shares held by an entity where he has voting and dispositive power.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, the fact that these sales were conducted under a pre-approved 10b5-1 plan suggests a structured and anticipated liquidation of shares, rather than a reactive sale based on new, adverse company developments. This mitigates any strong negative interpretation.

Positives

• The sales were executed under a pre-approved Rule 10b5-1 plan, indicating a structured and pre-scheduled transaction rather than a reactive sale based on new, negative information.

Negatives

• Insider selling, even if planned, can sometimes be perceived by the market as a lack of confidence, although the 10b5-1 plan mitigates this to some extent.

Future Outlook

This Form 4 filing is a report of insider transactions and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a routine disclosure of insider stock transactions and does not provide information relevant to broader industry trends or competitive analysis. It reflects an individual director's pre-planned stock sales.

Stakeholder Impact

• Shareholders may note the director's sale of shares, but the context of a 10b5-1 plan suggests these were pre-scheduled and not necessarily indicative of a change in the director's view on the company's prospects.

Key Dates

Keywords

Axsome Therapeutics, AXSM, Form 4, insider trading, stock sale, 10b5-1 plan, Mark Coleman, director, beneficial ownership