Acadia Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 18 2023 - 3:05PM
Business Wire
Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that
on December 13, 2023, the Compensation Committee of Acadia’s Board
of Directors (the “Committee”) granted inducement awards consisting
of non-qualified stock options to purchase 33,647 shares of common
stock and 20,146 restricted stock units (“RSUs”) to eight 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
$28.47 per share, Acadia’s closing trading price on December 13,
2023, 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 the negative symptoms of schizophrenia, Prader-Willi
syndrome, Alzheimer’s disease psychosis and 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
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