SAN DIEGO--(BUSINESS WIRE)--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.
About Acadia Pharmaceuticals
Acadia is advancing breakthroughs in neuroscience to elevate life. For 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 FDA-approved drug to treat hallucinations and delusions associated with Parkinson’s disease psychosis and the first and only FDA-approved drug for the treatment of Rett syndrome. Our clinical-stage development efforts are focused on Prader-Willi syndrome, Alzheimer’s disease psychosis and multiple other programs targeting neuropsychiatric symptoms in central nervous system disorders. For more information, visit us at Acadia.com and follow us on LinkedIn and X.
