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

Rhea-AI Summary

Acadia Pharmaceuticals Inc. granted inducement awards to three new employees, including stock options and restricted stock units. The awards were approved by the Compensation Committee and are subject to vesting conditions over four years.

SAN DIEGO--(BUSINESS WIRE)-- Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that on March 11, 2024, the Compensation Committee of Acadia’s Board of Directors (the “Committee”) granted inducement awards consisting of non-qualified stock options to purchase 8,904 shares of common stock and 5,461 restricted stock units (“RSUs”) to three 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 $24.13 per share, Acadia’s closing trading price on March 11, 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 approved therapies for hallucinations and delusions associated with Parkinson’s disease psychosis and for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on treating Prader-Willi syndrome, Alzheimer’s disease psychosis and neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at Acadia.com and follow us on LinkedIn and Twitter.

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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

What type of awards were granted to the new employees by Acadia Pharmaceuticals Inc.?

Acadia Pharmaceuticals Inc. granted non-qualified stock options to purchase 8,904 shares of common stock and 5,461 restricted stock units to three new employees.

How many shares can be purchased through the stock options granted by Acadia Pharmaceuticals Inc.?

The stock options granted allow the purchase of 8,904 shares of common stock at an exercise price of $24.13 per share.

What is the vesting period for the stock options and RSUs granted by Acadia Pharmaceuticals Inc.?

The stock options will vest over four years, with 25% of shares vesting on the one-year anniversary and the rest monthly over 36 months. The RSUs will vest over four years, with 50% vesting on the second anniversary and the rest in two equal annual installments.