SAN DIEGO–(BUSINESS WIRE)– It’s a moment of growth and opportunity at Acadia Pharmaceuticals Inc. (Nasdaq: ACAD). On September 8, 2023, the Compensation Committee of Acadia’s Board of Directors took a bold step, granting a series of enticing awards to 14 new employees under the company’s 2023 Inducement Plan.
These awards, comprising non-qualified stock options to purchase 23,749 shares of common stock and 14,306 restricted stock units (“RSUs”), were approved as an attractive inducement to welcome these new talents aboard, aligning with Nasdaq Listing Rule 5635(c)(4).
The stock options come with an exercise price per share set at $26.45, mirroring Acadia’s closing trading price on that very day. The road to ownership will be a journey spread over four years, with an initial 25% of the underlying shares becoming vested on the first anniversary of the grant date. Following that, the remaining shares will unlock gradually, on a monthly basis, over 36 months. Naturally, this all hinges on the new employees’ steadfast commitment to Acadia throughout this period.
Now, let’s talk about the RSUs, which are equally enticing. They, too, have a four-year vesting schedule, with the first half of the underlying shares becoming yours on the second anniversary of the grant date. The remaining shares follow a pattern of equal annual installments, starting from the second anniversary of the grant date, provided our new recruits continue to be an integral part of the Acadia family.
These awards, of course, adhere to the guidelines and stipulations outlined in Acadia’s 2023 Inducement Plan, ensuring a fair and exciting journey for all those involved. Welcome to the team, and here’s to the exciting future we’ll create together!
About Acadia Pharmaceuticals
At Acadia, we’re on a relentless quest to transform lives through groundbreaking neuroscience. With three decades of pioneering work in healthcare, we’re dedicated to delivering essential solutions to those who need them most. Our track record speaks volumes. we proudly introduced the world’s first and only approved therapies for addressing hallucinations and delusions linked to Parkinson’s disease psychosis and revolutionized the treatment of Rett syndrome.
But that’s just the beginning of our journey. We’re pushing the boundaries of possibility in the field of neuroscience, with a focus on alleviating the negative symptoms of conditions like schizophrenia, Prader-Willi syndrome, Alzheimer’s disease psychosis, and neuropsychiatric issues within the realm of central nervous system disorders.
Join us on this extraordinary voyage as we continue to pioneer innovation, transform lives, and redefine what’s achievable in healthcare.