Steven M. Paul - Nov 9, 2021 Form 4 Insider Report for Sage Therapeutics, Inc. (SAGE)

Role: Director
Signature: /s/ Jennifer Fitzpatrick, as Attorney-in-Fact for Steven M. Paul
Stock symbol: SAGE
Transactions as of: Nov 9, 2021
Transactions value $: $43
Form type: 4
Date filed: 11/12/2021, 03:53 PM
Previous filing: Aug 18, 2021
Next filing: Jan 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAGE	Common Stock	Other	$43.40	+1		$43.36	1	Nov 9, 2021	See footnote	F1, F2
holding	SAGE	Common Stock						127K	Nov 9, 2021	See footnote	F3
holding	SAGE	Common Stock						146K	Nov 9, 2021	See footnote	F4
holding	SAGE	Common Stock						30.6K	Nov 9, 2021	See footnote	F5
holding	SAGE	Common Stock						30.6K	Nov 9, 2021	See footnote	F6
holding	SAGE	Common Stock						30.6K	Nov 9, 2021	See footnote	F7
holding	SAGE	Common Stock						30.6K	Nov 9, 2021	See footnote	F8
holding	SAGE	Common Stock						119K	Nov 9, 2021	See footnote	F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On November 9, 2021, the Steven Paul Revocable Trust, a family trust of which the reporting person is a trustee (the "Revocable Trust"), withdrew one share of common stock from the Steven M. Paul GRAT VII, a grantor retained annuity trust established for the benefit of the reporting person and his adult children ("GRAT VII"). In exchange for the one share, the Revocable Trust contributed to the GRAT VII $43.36 in cash, which was the closing price of one share of the registrant's common stock on November 9, 2021. The reporting person believes that the withdrawal of the share from GRAT VII constitutes a change in form of beneficial ownership of the share, exempted by Rule 16a-13 under the Securities Exchange Act of 1934, as amended.
F2	Shares held directly by the Revocable Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in the Revocable Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F3	Shares held directly by the GRAT VII.
F4	Shares held directly by the Steven M. Paul GRAT VIII.
F5	Shares held directly by the Steven M. Paul Family 2018 Delaware Irrevocable Trust FBO Morgan McGill (the "McGill Trust"). The reporting person disclaims Section 16 beneficial ownership of the shares held in the McGill Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F6	Shares held directly by the Steven M. Paul Family 2018 Delaware Irrevocable Trust FBO Jordan Fisch (the "Jordan Fisch Trust"). The reporting person disclaims Section 16 beneficial ownership of the shares held in the Jordan Fisch Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F7	Shares held directly by the Steven M. Paul Family 2018 Delaware Irrevocable Trust FBO Aaron Paul (the "Aaron Paul Trust"). The reporting person disclaims Section 16 beneficial ownership of the shares held in the Aaron Paul Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F8	Shares held directly by the Steven M. Paul Family 2018 Delaware Irrevocable Trust FBO Austin Paul (the "Austin Paul Trust"). The reporting person disclaims Section 16 beneficial ownership of the shares held in the Austin Paul Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F9	Shares held directly by the Steven M. Paul Family 2019 Delaware Irrevocable Trust FBO Jann Paul (the "Irrevocable Family Trust"), for which the reporting person is an investment adviser. Members of the reporting person's immediate family are the beneficiaries of the Irrevocable Family Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in the Irrevocable Family Trust, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.