| 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) |
| Common Stock | 11,021(1) | D | |
| 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 Option (Right to Buy) | (2) | 10/18/2028 | Common Stock | 184,479 | 2.27 | D | |
| Stock Option (Right to Buy) | (3) | 06/04/2030 | Common Stock | 80,507 | 5.59 | D | |
| Stock Option (Right to Buy) | (4) | 09/13/2030 | Common Stock | 93,457 | 8.91 | D | |
| Explanation of Responses: |
| 1. These shares were acquired from the exercise of an option granted on October 19, 2018 at an exercise price of $2.27 per share. |
| 2. 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 August 21, 2018 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 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. |
| 4. 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: |
| 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. | ||
