Acadia Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
14 February 2023 - 8:15AM
Business Wire
Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that
on February 10, 2023, the Compensation Committee of Acadia’s Board
of Directors granted inducement awards consisting of non-qualified
stock options to purchase 310,065 shares of common stock and 97,251
restricted stock units (“RSUs”) to 19 new employees under Acadia’s
2023 Inducement Plan. Among such awards was a non-qualified stock
option to purchase 237,296 shares of common stock and RSUs covering
50,655 shares of common stock granted to Douglas J. Williamson,
Acadia’s newly appointed Executive Vice President, Head of Research
& Development. 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
$18.97 per share, the closing price of Acadia’s common stock on
February 10, 2023, and will vest over four years, with 25% of the
underlying shares vesting on the one-year anniversary of the
applicable vesting commencement date and the balance of the
underlying shares vesting monthly thereafter over 36 months,
subject to the new employees’ continued employment 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 applicable vesting commencement date, and the
balance of the underlying shares vesting in two equal annual
installments measured from the second anniversary of the applicable
vesting commencement date, subject to the new employees’ continued
employment 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 more than 25 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
therapy for hallucinations and delusions associated with
Parkinson’s disease psychosis. Our clinical-stage development
efforts are focused on treating the negative symptoms of
schizophrenia, Rett syndrome 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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Investor Contact: Acadia Pharmaceuticals Inc. Mark Johnson, CFA
(858) 261-2771 ir@acadia-pharm.com
Media Contact: Acadia Pharmaceuticals Inc. Deb Kazenelson (818)
395-3043 media@acadia-pharm.com
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