---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-172225"
form_type: "8-K"
ticker: "OVID"
cik: "0001636651"
company_name: "Ovid Therapeutics Inc."
filed_at: "2024-06-28T23:59:59+00:00"
generated_at: "2026-06-01T00:37:20.561847+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ovid Therapeutics cuts workforce by 43%, two executives depart

## Summary
- Workforce reduced by 17 employees (~43% of headcount); one-time severance charge of ~$4.0M; substantially complete by Q3 2024.
- General Counsel Thomas Perone and COO Jason Tardio depart effective July 11, 2024; consulting transition arrangements planned.
- Cash runway extended into first half of 2026 due to cost savings from workforce reduction.

## SEC filing metadata
- accession: 0001193125-24-172225
- form_type: 8-K
- ticker: OVID
- cik: 0001636651
- company_name: Ovid Therapeutics Inc.
- filed_at: 2024-06-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/0001193125-24-172225-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/d822326d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-172225
- JSON: https://secwatch.observer/filing/0001193125-24-172225.json
- Plain text: https://secwatch.observer/filing/0001193125-24-172225.txt

## Key facts
- Executive change
  Jason Tardio departed as Chief Operating Officer at Ovid Therapeutics Inc..
  - Action: will cease serving
  - Role: Chief Operating Officer
  source text: Jason Tardio will cease serving as the Company’s Chief Operating Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/0001193125-24-172225-index.htm
- Executive change
  Thomas Perone departed as General Counsel, Chief Compliance Officer and Corporate Secretary at Ovid Therapeutics Inc..
  - Action: will cease serving
  - Role: General Counsel, Chief Compliance Officer and Corporate Secretary
  source text: on the Separation Date, Thomas Perone will cease serving as the Company’s General Counsel, Chief Compliance Officer and Corporate Secretary
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/0001193125-24-172225-index.htm
- Restructurings & Charges
  Ovid Therapeutics Inc. announced a restructuring with charges of approximately $4.0 million (17 people, or approximately 43% of the Company's existing headcount).
  - Type: restructuring
  - Charge: approximately $4.0 million
  - Headcount: 17 people, or approximately 43% of the Company's existing headcount
  source text: of a general release of claims against the Company. The Company anticipates a one-time severance-related charge associated with the workforce reduction to be approximately $4.0 million, which represents cash expenditures related to employee severance and notice period payments, benefits and related costs that the Company expects to incur in connection with the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/0001193125-24-172225-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.