Form 4: Axsome Therapeutics General Counsel Executes Pre-Planned Stock Option Exercises and Sales

Axsome Therapeutics' General Counsel, Hunter R. Murdock, reported the exercise of stock options and subsequent sale of common stock totaling 22,500 shares over three days in June 2025, all conducted under a pre-approved 10b5-1 trading plan.

Summary

• Hunter R. Murdock, General Counsel of Axsome Therapeutics, Inc. (AXSM), reported a series of stock option exercises and subsequent sales of common stock.
• On June 16, 2025, Mr. Murdock exercised options to acquire 7,500 shares of common stock at an exercise price of $29.91 per share and subsequently sold these 7,500 shares at a weighted average price of $102.42 per share, with sale prices ranging from $101.01 to $104.09.
• On June 17, 2025, Mr. Murdock exercised options to acquire another 7,500 shares of common stock at $29.91 per share and subsequently sold these 7,500 shares at a weighted average price of $100.26 per share, with sale prices ranging from $100.00 to $101.53.
• On June 18, 2025, Mr. Murdock exercised options to acquire a final 7,500 shares of common stock at $29.91 per share and subsequently sold these 7,500 shares at a weighted average price of $100.90 per share, with sale prices ranging from $100.00 to $101.96.
• All transactions were conducted pursuant to a pre-approved Rule 10b5-1 trading plan.
• Following these transactions, Mr. Murdock's beneficial ownership of derivative securities (stock options) decreased from 44,883 to 29,883.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it involves insider selling, the fact that it's an exercise-and-sell under a pre-approved 10b5-1 plan makes it a routine and expected event, rather than a signal of negative sentiment. The insider also realized significant profit, which is a positive for the individual.

Positives

• The General Counsel realized significant profits from the exercise of stock options and the subsequent sale of shares, indicating a substantial increase in the company's stock value since the options were granted.
• The transactions were conducted under a pre-approved 10b5-1 plan, demonstrating adherence to corporate governance best practices for insider trading.

Negatives

• The transactions represent insider selling, which, while pre-planned, reduces the insider's direct equity stake in the company's common stock.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Management Comments

• Hunter R. Murdock, General Counsel, stated that 'Such transaction was pursuant to a pre-approved 10b5-1 plan.'

Industry Context

This filing reports routine insider trading activity (exercise and sale of stock options) and does not provide broader industry context or trends. Such transactions are common for executives receiving equity compensation.

Corporate Governance

Stakeholder Impact

• Shareholders: The transactions represent a routine, pre-planned reduction in a key executive's direct common stock holdings, which is generally not a significant concern when conducted under a 10b5-1 plan. The profit realized by the executive reflects the company's stock appreciation.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

Axsome Therapeutics, AXSM, Form 4, Insider Trading, Stock Options, Share Sale, 10b5-1 Plan, General Counsel, Beneficial Ownership