X0306 4 2019-02-15 false 0001597553 Sage Therapeutics, Inc. SAGE 0001237564 PAUL STEVEN M C/O SAGE THERAPEUTICS, INC. 215 FIRST STREET CAMBRIDGE MA 02142 true false false false Common Stock 2019-02-01 5 G false E 241695.00 0.00 D 272777.00 D Common Stock 2019-02-01 5 G false E 241695.00 0.00 A 241695.00 I See footnote (1) Common Stock 2019-02-15 4 S false 12519.00 161.02 D 111385.00 I See footnote (3) Common Stock 2019-02-15 4 S false 12510.00 161.02 D 98875.00 I See footnote (5) Common Stock 2019-02-15 4 S false 12044.00 161.02 D 86831.00 I See footnote (7) Common Stock 2019-02-15 4 S false 12388.00 161.02 D 74443.00 I See footnote (9) Common Stock 2019-02-19 4 S false 200.00 162.00 D 74243.00 I See footnote (10) Common Stock 2019-02-19 4 S false 500.00 161.624 D 73743.00 I See footnote (11) Common Stock 2019-02-19 4 S false 643.00 161.37 D 73100.00 I See footnote (13) Common Stock 2019-02-19 4 S false 200.00 162.00 D 72900.00 I See footnote (15) Represents 241,695 shares that, upon termination of a grantor retained annuity trust, were disbursed to the Steven M Paul Family 2018 Delaware Irrevocable Trust FBO Jann Paul of which the trustee is J.P. Morgan and for which the reporting person is an investment adviser. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. Represents 18,932 shares held directly by the McGill Trust; 18,466 shares held directly by the Jordan Fisch Trust; 18,257 shares held directly by the Aaron Paul Trust; and 18,588 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. Represents 18,932 shares held directly by the McGill Trust; 17,966 shares held directly by the Jordan Fisch Trust; 18,257 shares held directly by the Aaron Paul Trust; and 18,588 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. This transaction was executed in multiple trades at prices ranging from $161.28 USD to $162.00 USD. The price reported above reflects the weighted average sale price. Represents 18,289 shares held directly by the McGill Trust; 17,966 shares held directly by the Jordan Fisch Trust; 18,257 shares held directly by the Aaron Paul Trust; and 18,588 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. This transaction was executed in multiple trades at prices ranging from $161.00 USD to $162.00 USD. The price reported above reflects the weighted average sale price. Represents 18,289 shares held directly by the McGill Trust; 17,966 shares held directly by the Jordan Fisch Trust; 18,257 shares held directly by the Aaron Paul Trust; and 18,388 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. The sales reported on this Form 4 were effected by the Aaron Paul Trust, the Austin Paul Trust, the Jordan Fisch Trust and the McGill Trust pursuant to trading plans adopted pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Represents 30,976 shares held directly by the McGill Trust; 30,976 shares held directly by the Jordan Fisch Trust; 18,457 shares held directly by the Aaron Paul Trust; and 30,976 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. This transaction was executed in multiple trades at prices ranging from $161.00 USD to $161.21 USD. The price reported above reflects the weighted average sale price. Represents 30,976 shares held directly by the McGill Trust; 18,466 shares held directly by the Jordan Fisch Trust; 18,457 shares held directly by the Aaron Paul Trust; and 30,976 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. This transaction was executed in multiple trades at prices ranging from $161.00 USD to $161.29 USD. The price reported above reflects the weighted average sale price. Represents 18,932 shares held directly by the McGill Trust; 18,466 shares held directly by the Jordan Fisch Trust; 18,457 shares held directly by the Aaron Paul Trust; and 30,976 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. This transaction was executed in multiple trades at prices ranging from $161.00 USD to $161.42 USD. The price reported above reflects the weighted average sale price. Represents 18,932 shares held directly by the McGill Trust; 18,466 shares held directly by the Jordan Fisch Trust; 18,457 shares held directly by the Aaron Paul Trust; and 18,588 shares held directly by the Austin Paul Trust. The reporting person disclaims Section 16 beneficial ownership of the shares held in each of these trusts, 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. /s/ Jennifer Fitzpatrick, as Attorney-in-Fact for Steven M. Paul 2019-02-20