Steven M. Paul - Jan 4, 2023 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: Jan 4, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/5/2023, 03:30 PM
Previous filing: Nov 30, 2022
Next filing: Feb 13, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SAGE	Stock Options (Right to buy)	Award	$0	+2.4K		$0.00	2.4K	Jan 4, 2023	Common Stock	2.4K	$39.16	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The reporting person elected to receive this stock option award in lieu of payment of all cash retainers that would otherwise be paid for the reporting person's service during 2023 on the issuer's board or its committees, as permitted under the issuer's amended and restated non-employee director compensation policy. The stock option is granted under and subject to the terms of the Sage Therapeutics, Inc. 2014 Stock Option and Incentive Plan. The option will vest in full on December 31, 2023, subject to the reporting person's continued service through such date.

Content

The reporting person elected to receive this stock option award in lieu of payment of all cash retainers that would otherwise be paid for the reporting person's service during 2023 on the issuer's board or its committees, as permitted under the issuer's amended and restated non-employee director compensation policy. The stock option is granted under and subject to the terms of the Sage Therapeutics, Inc. 2014 Stock Option and Incentive Plan. The option will vest in full on December 31, 2023, subject to the reporting person's continued service through such date.