Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) recently welcomed 44 new employees with a generous incentive package! 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”) under its 2023 Inducement Plan. This generous package was designed to reward and recognize the contribution of new employees to the company’s success.
Acadia is pleased to announce the grant of stock options and RSUs to new employees, with an exercise price per share of $20.14 – the closing trading price on April 24, 2023. The stock options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date, and the remaining shares vesting monthly thereafter over the course of 36 months.
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 vesting in two equal annual installments measured from that date. Both awards are subject to the terms and conditions of Acadia’s 2023 Inducement Plan and the applicable award agreement.
About Acadia Pharmaceuticals
For nearly three decades, Acadia has been at the forefront of healthcare, pioneering breakthroughs in neuroscience to improve the lives of people in need. We introduced the first and only treatments for hallucinations and delusions associated with Parkinson’s disease psychosis and for the treatment of Rett syndrome.
Today, we are focused on developing therapies to address schizophrenia, Alzheimer’s disease psychosis, and neuropsychiatric symptoms in central nervous system disorders. Together, we strive to make a positive difference in the lives of those we serve.