Acadia, page-547

Acadia Hires 22 New Employees:

SAN DIEGO--(BUSINESS WIRE)--Acadia Pharmaceuticals Inc. (Nasdaq: ACAD) today announced that on May 15, 2024, the Compensation Committee of Acadia’s Board of Directors (the “Committee” granted inducement awards consisting of non-qualified stock options to purchase 57,252 shares of common stock and 33,675 restricted stock units (“RSUs” to twenty-two new employees under Acadia’s 2023 Inducement Plan. The Compensation Committee 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 $15.12 per share, Acadia’s closing trading price on May 15, 2024, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship 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 grant date, and the balance of the underlying shares vesting in two equal annual installments measured from the second anniversary of the grant date, subject to the new employees’ continued service relationship 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.

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