Acadia Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 05 2023 - 4:04PM
Business Wire
Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that
on April 24, 2023, the Compensation Committee of Acadia’s Board of
Directors granted inducement awards consisting of non-qualified
stock options to purchase 98,850 shares of common stock and 59,934
restricted stock units (“RSUs”) to 44 new employees under Acadia’s
2023 Inducement Plan. The Compensation Committee of Acadia’s Board
of Directors 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
$20.14 per share, Acadia’s closing trading price on April 24, 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 almost 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, 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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version on businesswire.com: https://www.businesswire.com/news/home/20230505005471/en/
Media Contact: Acadia Pharmaceuticals Inc. Deb Kazenelson (818)
395-3043 media@acadia-pharm.com
Investor Contact: Acadia Pharmaceuticals Inc. Mark Johnson, CFA
(858) 261-2771 ir@acadia-pharm.com
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