ACADIA Pharmaceuticals Inc

NASDAQ:ACADUnited States

Sep 26, 2024

Show headlines and story abstract

• Acadia Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4), from 4:05PM ET on Thursday Sep 26, 2024 by Dow Jones

  4:05PM ET on Thursday Sep 26, 2024 by Dow Jones
  Companies Mentioned: ACAD
  
  Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that on September 23, 2024, the Board of Directors granted Catherine Owen Adams, Acadia's new Chief Executive Officer, a one-time sign-on equity award of (i) 353,261 options to purchase shares of Acadia's common stock with an exercise price of $16.29 per share, Acadia's closing trading price on September 23, 2024, which vest 25% on the first anniversary of grant and in equal monthly installments over the three years thereafter, and (ii) 160,763 performance stock units that can be earned on achievement of relative total shareholder return metrics over a three-year performance period (which can be earned at 0-150% of 100% target), subject, in each case, to her continued service through the applicable vesting dates (collectively, the "Inducement Awards"). Acadia's Board of Directors approved the Inducement Awards as an inducement material to Ms. Owen Adams' employment under Acadia's 2024 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4). The Inducement Awards are subject to the terms and conditions of Acadia's 2024 Inducement Plan and the terms and conditions of an applicable award agreement covering each grant.