Management Change/Compensation Form 8 K

On October 14, 2024 (the "Effective Date"), the board of directors (the "Board") of Sage Therapeutics, Inc. (the "Company") committed to a plan to reorganize its business operations to support the ongoing launch of ZURZUVAE^TM (zuranolone) for the treatment of women with postpartum depression ("PPD") and to focus pipeline development efforts ahead of the data readout for dalzanemdor in Huntington's Disease expected later this year (the "Reorganization"). As part of the Reorganization, the Company plans to implement a reduction of the Company's workforce by approximately 33%, including approximately 55% of the Company's research and development workforce; make changes to the Company's leadership team; and implement early-stage pipeline prioritization.

The Company expects a non-recurringcharge for severance and related employee costs associated with the workforce reduction of approximately $26 million to $28 million, primarily incurred in the fourth quarter of 2024. The Company expects that the workforce reduction will be substantially completed by the end of the fourth quarter of 2024. The Company may incur additional costs not currently contemplated due to events associated with or resulting from the workforce reduction.

The Company anticipates that the implementation of the Reorganization will result in a reduction of the Company's operating expenses and, based on its current operating plans, will extend the Company's cash runway.