Director Inderjit Kaul filed a Form 4 with the SEC on November 3, 2026, disclosing the acquisition of a stock option to purchase 2,328 shares of Minerva Neurosciences, Inc. (NASDAQ:NERV) common stock, with a transaction date of November 2, 2026.

Key Highlights

  • Reporting person: Inderjit Kaul, listed as a Director of Minerva Neurosciences, Inc.
  • Security acquired: A stock option (right to buy) covering 2,328 shares of common stock, acquired on November 2, 2026.
  • Exercise price: $2.345 per share, with an expiration date of November 2, 2036.
  • Price paid: $0 for the derivative security at acquisition.
  • Post-transaction holdings: 2,328 derivative securities beneficially owned directly following the reported transaction.
  • Vesting schedule: 25% vests November 14, 2026; 45% vests on the tenth day after the company publicly announces statistically significant achievement of the primary endpoint of its Phase 3 confirmatory trial of roluperidone in schizophrenia at the 12-week timepoint; and the remaining 30% vests on the tenth day after the company publicly announces safety data from the 40-week relapse assessment phase.
  • Condition: Each vesting tranche requires Kaul to be providing services under a consulting agreement dated November 14, 2025 on the applicable vesting date.

Stock Option Grant Details and Milestone-Based Vesting Terms

According to the filing, Inderjit Kaul, identified as a Director of Minerva Neurosciences, Inc., acquired a stock option to purchase 2,328 shares of common stock on November 2, 2026, at an exercise price of $2.345 per share. The option was acquired at a price of $0 and expires on November 2, 2036. Following the reported transaction, Kaul beneficially owns 2,328 derivative securities directly, as disclosed in Table II of the filing.

The filing's explanation of responses details a three-part vesting schedule tied in part to clinical trial milestones. The first 25% of the option vests on November 14, 2026. An additional 45% vests on the tenth day following the company's public announcement that it has achieved, "on a statistically significant basis, the primary endpoint of its Phase 3 confirmatory trial of roluperidone in schizophrenia at the 12-week timepoint." The remaining 30% vests on the tenth day following the company's public announcement of safety data from the 40-week relapse assessment phase of the same trial.

The filing further states that each vesting tranche is conditioned on Kaul providing services pursuant to a consulting agreement dated November 14, 2025, on each respective vesting date. The Form 4 was signed by Frederick Ahlholm as Attorney-in-Fact and filed on November 3, 2026. No Table I non-derivative transactions were reported.

What Was Disclosed

Minerva Neurosciences director Inderjit Kaul reported the acquisition of a stock option covering 2,328 shares at a $2.345 exercise price, with vesting tied to time and to specific clinical trial announcement milestones related to roluperidone in schizophrenia.