| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year) 10/15/2020 | 3. Issuer Name and Ticker or Trading Symbol Praxis Precision Medicines, Inc. [ PRAX ] | |||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| 5. If Amendment, Date of Original Filed (Month/Day/Year) | ||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Stock Options (Right to Buy) | (1) | 05/07/2027 | Common Stock | 27,980 | 0.11 | D | |
| Stock Options (Right to Buy) | (2) | 06/04/2030 | Common Stock | 8,754 | 5.59 | D | |
| Stock Options (Right to Buy) | (3) | 09/13/2030 | Common Stock | 65,420 | 8.91 | D | |
| Explanation of Responses: |
| 1. The shares underlying this stock option vest over a four-year period, with 25% having vested on the first anniversary of the vesting commencement date of December 12, 2016 and the remaining 75% vesting in 36 equal monthly installments following such first anniversary, subject to the reporting person's continued employment through each vesting date. |
| 2. The shares underlying this stock option shall vest over a four-year period, with 25% vesting on the 12-month anniversary of the vesting commencement date of May 28, 2020 and the remaining 75% vesting in 36 equal monthly installments following such first anniversary, subject to the reporting person's continued employment through each vesting date. |
| 3. The shares underlying this stock option shall vest over a four-year period, with 25% vesting on the 12-month anniversary of the vesting commencement date of September 8, 2020 and the remaining 75% vesting in 36 equal monthly installments following such first anniversary, subject to the reporting person's continued employment through each vesting date. |
| Remarks: |
| The Reporting Person, a Senior Advisor of The Blackstone Group Inc. ("Blackstone") or one of its affiliates, is a member of the board of directors of the Issuer. Certain affiliates of Blackstone have filed a separate Form 3 reporting securities of the Issuer that they may be deemed to beneficially own. The Reporting Person disclaims beneficial ownership of any securities of the Issuer that may be deemed to be beneficially owned by affiliates of Blackstone. Exhibit 24 - Power of Attorney |
| /s/ Alex Nemiroff, as Attorney-in-Fact | 10/15/2020 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
