AXSM Axsome Therapeutics, Inc. Insider Trading

AXSM CEO sold 49,666 shares at $240.25 on 2026-07-01 via 10b5-1 plan; retains 7,229 shares plus 49,664 stock options

Herriot Tabuteau sold 49.7K shares for $11.9M through a scheduled 10b5-1 trading plan, reducing his direct non-derivative holdings by 87.3% to 7.2K shares. This is the second scheduled sale in as many months (prior sale on 2026-06-09), consistent with a pre-arranged divestment calendar rather than a discretionary decision point. Critically, the insider retains substantial upside exposure through 49,664 stock options, meaning his overall position remains leveraged to Axsome's performance despite the significant reduction in vested shares. The company trades at $240.66 (near the 52-week high of $260.19) with strong recent momentum (+42.8% over 90 days) but is unprofitable, generating -$64.5M net income on $191.2M quarterly revenue, though annual growth is robust at +65.6%.

AXSM CEO Herriot Tabuteau sold 49.7K shares ($12.0M) at $241.01; retains 7.2K shares plus 99,330 stock options

CEO Herriot Tabuteau executed a pre-arranged 10b5-1 trading plan sale on 2026-06-09, disposing of 49,670 shares valued at $11,970,966.70 while retaining 7,229 non-derivative shares and derivative holdings of 99,330 shares via stock options. The sale occurred at $241.01, near the 52-week high of $242.41 and against a backdrop of 13.0% gains over 30 days and 54.0% gains over 90 days. Axsome remains unprofitable (full-year net income: $-64,542,000.00) despite strong revenue growth of 65.6% year-over-year. His prior five trades at this ticker show mixed post-sale performance (30-day range -11.6% to +20.6%, 90-day range -1.6% to +11.3%), with no consistent directional pattern, making this scheduled sale a neutral data point on conviction rather than a discretionary signal.

CFO Nick Pizzie sold 33,000 AXSM shares at $240.09 (total $7.9M) under 10b5-1 plan; holds 42,867 shares post-sale plus 72,000 stock options.

CFO Nick Pizzie sold 33,000 shares (33.0K shares) of Axsome for $7,922,970.00 (total value), reducing his non-derivative holdings from 75,867 to 42,867 shares, a reduction of -43.5%. This transaction was executed under a pre-arranged 10b5-1 trading plan and therefore was scheduled, not discretionary. Notably, prior sales by this insider at AXSM show mixed near-term outcomes: his January 2026 sale returned -2.2% at 30 days, while his two February 2025 sales returned -7.0% and -6.1% at 30 days respectively. The company remains unprofitable (net income of $-64,542,000.00 for the latest quarter) despite strong revenue growth of +65.6% year-over-year, which presents a context of expansion without current profitability. The insider retains substantial derivative holdings of 72,000 stock options, indicating continued equity exposure to the company.

Director Mark Coleman sold 17,537 shares over 3 days (May 29–Jun 2) for $4,019,470.43 via scheduled 10b5-1 plan at AXSM

Mark Coleman, a Director at Axsome Therapeutics, executed 3 separate sales totaling 17,537 shares for $4,019,470.43 between May 29 and June 2, 2026, reducing his holdings by 37.2% to 29,603 shares post-transaction. This disposition was effected through a pre-arranged 10b5-1 trading plan—a scheduled, non-discretionary mechanism—so the timing and execution reflect contractual commitment rather than a discretionary market timing decision. The company remains unprofitable with a full-year net income of $-64,542,000.00, though it is growing revenue at an annual rate of +65.6%. Across his prior 3 sales at this ticker, Coleman's average 90-day return was +45.6%, indicating that his prior open-market dispositions at AXSM were followed by stock appreciation; however, the current stock price of $245.64 is only 1.3% above its 52-week high of $242.41, and this scheduled 10b5-1 execution carries no forward-looking signal independent of the plan's predetermined terms.

COO Mark L. Jacobson sells 4,750 shares for $1.1M at AXSM via scheduled 10b5-1 plan; retains 230,141 option shares

Mark L. Jacobson, Chief Operating Officer, executed 2 separate sales totaling 4,750 shares for $1,082,770.92 under a pre-arranged 10b5-1 trading plan, reducing his non-derivative holdings to zero while retaining 230,141 shares through stock option positions. The sales occurred at a blended average price of $227.95, below the current price of $255.17 and well below the 52-week high of $257.92. Jacobson's prior trades at AXSM show mixed 30-day outcomes (ranging from -3.4% to +11.9%) but consistently positive 90-day returns (ranging from +13.3% to +44.9%), suggesting the stock has tended to appreciate meaningfully in the months following his historical sales at this ticker. The company remains unprofitable despite strong revenue growth of +65.6% year-over-year and a substantial market cap of $13.1B, reflecting a high-growth but pre-profitability profile typical of biotech/therapeutics firms.

CCO Maizel Ari sells 7,500 shares of AXSM at $182.42 (total $1.4M); complete liquidation under 10b5-1 plan.

Maizel Ari, Chief Commercial Officer of Axsome Therapeutics, sold 7,500 shares on 2026-04-22 at $182.42 per share for total proceeds of $1,368,150.00, reducing his holdings to 0 shares. The sale is executed under a pre-arranged 10b5-1 trading plan, meaning the transaction was scheduled and automatic rather than discretionary. This represents a complete liquidation of his previously held 7,500 shares. Since the transaction is governed by a pre-established plan, the timing reflects scheduled execution rather than opportunistic decision-making. The material fact for investors is the complete elimination of the CCO's equity stake in the company.

COO Jacobson Mark L. sells entire 35,378-share holding of AXSM for $5.7M under 10b5-1 plan on 2026-02-26

Chief Operating Officer Jacobson Mark L. liquidated his complete equity stake in Axsome Therapeutics, selling 35,378 shares at $161.88 for total proceeds of $5,726,990.64 on 2026-02-26. The transaction was executed under a pre-arranged 10b5-1 trading plan, meaning it was scheduled rather than discretionary. This represents a 100.0% reduction in his shareholding, reducing post-transaction holdings to 0 shares from 35,378 shares pre-transaction. While complete insider stake liquidations warrant investor attention, the scheduled nature of the 10b5-1 plan indicates this sale follows a predetermined execution structure unrelated to current market or company conditions.

Director Coleman Mark sold 25,000 AXSM shares at $161.11 (2026-02-26) via 10b5-1 plan; retains 47,140 shares

Coleman Mark, a director of Axsome Therapeutics, sold 25,000 shares at $161.11 per share for a total value of $4,027,750.00 under a pre-arranged 10b5-1 trading plan, reducing his holdings by 34.7% from 72,140 to 47,140 shares. The scheduled nature of the transaction means this sale was not made on a discretionary basis, limiting inferences about current sentiment toward the company. The director's continued retention of 47,140 shares indicates an ongoing equity stake in the business, though the magnitude of the reduction should be noted in the context of his overall holdings profile.

CEO TABUTEAU HERRIOT sells 32,410 shares of AXSM at $185.60 (−81.8% of holdings) via 10b5-1 plan; $6.0M transaction.

TABUTEAU HERRIOT, Chief Executive Officer of Axsome Therapeutics, executed a sale of 32,410 shares at $185.60 on 2026-02-02, reducing his post-transaction holdings to 7,229 shares from a pre-transaction position of 39,639 shares. This transaction is part of a pre-arranged 10b5-1 trading plan, meaning it was scheduled in advance rather than a discretionary trade made in response to current market conditions. The scale of the transaction—reducing his ownership stake by 81.8%—represents a substantial reduction in the CEO's direct equity participation in the company. Because this sale was contractually scheduled through a 10b5-1 plan, it does not signal a discretionary timing decision by the executive; however, the magnitude of the reduction materially changes his equity alignment with shareholders and may warrant investor attention regarding executive retention, incentive structure, or forward strategic positioning.

CCO Maizel Ari sells entire 7,500-share position in AXSM at $184.44; $1.4M via 10b5-1 plan

Chief Commercial Officer Maizel Ari executed a complete liquidation of his Axsome holdings, selling 7,500 shares for a total value of $1,383,300.00 at $184.44 per share. The transaction was executed pursuant to a pre-arranged 10b5-1 trading plan, meaning it was scheduled and not a discretionary decision made at this specific time. The disposition of a company's entire position—reducing holdings from 7,500 shares to 0 shares (-100.0% vs pre-transaction holdings)—represents a material change in insider stake, particularly given his role in commercial strategy. As this was a scheduled plan transaction, no timing-related inferences should be drawn from the execution date.