Acadia Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Acadia Pharmaceuticals Inc. (ACAD) granted inducement awards of non-qualified stock options and restricted stock units to seventeen new employees under its 2023 Inducement Plan. The awards include 111,823 stock options and 34,087 RSUs, with specific vesting schedules tied to the employees' continued service relationship. Each stock option has an exercise price of $25.18 per share, with vesting over four years, while the RSUs vest over four years as well. The awards were approved by the Compensation Committee as inducements for the new employees' employment.

SAN DIEGO--(BUSINESS WIRE)-- Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that on February 15, 2024, the Compensation Committee of Acadia’s Board of Directors (the “Committee”) granted inducement awards consisting of non-qualified stock options to purchase 111,823 shares of common stock and 34,087 restricted stock units (“RSUs”) to seventeen new employees under Acadia’s 2023 Inducement Plan. The Compensation Committee approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option has an exercise price per share equal to $25.18 per share, Acadia’s closing trading price on February 15, 2024, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with Acadia through the applicable vesting dates. The RSUs will vest over four years, with 50% of the underlying shares vesting on the second anniversary of the grant date, and the balance of the underlying shares vesting in two equal annual installments measured from the second anniversary of the grant date, subject to the new employees’ continued service relationship with Acadia through the applicable vesting dates. The awards are subject to the terms and conditions of Acadia’s 2023 Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.

About Acadia Pharmaceuticals

Acadia is advancing breakthroughs in neuroscience to elevate life. For 30 years we have been working at the forefront of healthcare to bring vital solutions to people who need them most. We developed and commercialized the first and only FDA-approved drug to treat hallucinations and delusions associated with Parkinson’s disease psychosis and the first and only FDA-approved drug for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on treating the negative symptoms of schizophrenia, Prader-Willi syndrome, Alzheimer’s disease psychosis and multiple other programs targeting neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at www.acadia.com and follow us on LinkedIn and Twitter.

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Media Contact:

Acadia Pharmaceuticals Inc.

Deb Kazenelson

(818) 395-3043

media@acadia-pharm.com

Investor Contact:

Acadia Pharmaceuticals Inc.

Al Kildani

(858) 261-2872

ir@acadia-pharm.com

Acadia Pharmaceuticals Inc.

Jessica Tieszen

(858) 261-2950

ir@acadia-pharm.com

Source: Acadia Pharmaceuticals Inc.

FAQ

How many shares of common stock were included in the inducement awards granted by Acadia Pharmaceuticals Inc. (ACAD)?

Acadia Pharmaceuticals Inc. granted 111,823 shares of common stock as part of the inducement awards.

What is the exercise price per share for the stock options granted by Acadia Pharmaceuticals Inc. (ACAD)?

The exercise price per share for the stock options granted by Acadia Pharmaceuticals Inc. is $25.18.

How long is the vesting period for the stock options and RSUs granted by Acadia Pharmaceuticals Inc. (ACAD)?

The stock options and RSUs granted by Acadia Pharmaceuticals Inc. vest over four years, with specific vesting schedules based on the employees' continued service relationship.

Under which plan were the inducement awards granted by Acadia Pharmaceuticals Inc. (ACAD)?

The inducement awards were granted under Acadia's 2023 Inducement Plan.