Acadia Pharmaceuticals Appoints New Directors, Updates Executive Contracts
Ticker: ACAD · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1070494
| Field | Detail |
|---|---|
| Company | Acadia Pharmaceuticals Inc (ACAD) |
| Form Type | 8-K |
| Filed Date | Sep 23, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.0001, $20 billion, $900,000, $500,000, $3,250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: ACAD
TL;DR
Acadia adds 2 directors, signs new deal with CMO - board shakeup incoming?
AI Summary
Acadia Pharmaceuticals Inc. announced on September 17, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. Steven M. Paul and Ms. Sarah E. Empey, to its Board of Directors. Additionally, the company entered into a new employment agreement with its Chief Medical Officer, Dr. Michael R. Davis, effective September 17, 2024.
Why It Matters
The appointment of new directors and updates to executive compensation can signal strategic shifts or confidence in leadership, potentially impacting investor sentiment and the company's future direction.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and do not indicate significant operational or financial distress.
Key Players & Entities
- Acadia Pharmaceuticals Inc. (company) — Registrant
- Dr. Steven M. Paul (person) — Newly elected director
- Ms. Sarah E. Empey (person) — Newly elected director
- Dr. Michael R. Davis (person) — Chief Medical Officer with new employment agreement
- September 17, 2024 (date) — Effective date of director appointments and new employment agreement
FAQ
Who were the new directors elected to Acadia Pharmaceuticals' Board?
Dr. Steven M. Paul and Ms. Sarah E. Empey were elected as new directors to the Board of Directors of Acadia Pharmaceuticals Inc.
When did the changes in directors and executive compensation become effective?
The changes, including the election of new directors and the new employment agreement for the Chief Medical Officer, became effective on September 17, 2024.
What is the role of Dr. Michael R. Davis at Acadia Pharmaceuticals?
Dr. Michael R. Davis is the Chief Medical Officer of Acadia Pharmaceuticals Inc., and he entered into a new employment agreement.
What type of filing is this for Acadia Pharmaceuticals?
This is a Form 8-K filing, which is a Current Report filed by Acadia Pharmaceuticals Inc. pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Where is Acadia Pharmaceuticals Inc. headquartered?
Acadia Pharmaceuticals Inc. is headquartered in San Diego, California, with its principal executive offices located at 12830 El Camino Real, Suite 400, San Diego, CA 92130.
Filing Stats: 1,729 words · 7 min read · ~6 pages · Grade level 12.1 · Accepted 2024-09-23 16:34:29
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share ACAD The Nasdaq Stock Mar
- $20 billion — pharmaceutical company, where she led a $20 billion commercial business, overseeing a large
- $900,000 — pensation: (i) an annual base salary of $900,000 per year, (ii) eligibility to receive a
- $500,000 — ice in 2024, (iii) a sign-on payment of $500,000, subject to a pro-rata clawback in the
- $3,250,000 — y's common stock with a target value of $3,250,000, which will vest 25% on the one-year an
Filing Documents
- d861822d8k.htm (8-K) — 36KB
- d861822dex101.htm (EX-10.1) — 42KB
- d861822dex102.htm (EX-10.2) — 39KB
- 0001193125-24-223726.txt ( ) — 267KB
- acad-20240917.xsd (EX-101.SCH) — 3KB
- acad-20240917_lab.xml (EX-101.LAB) — 18KB
- acad-20240917_pre.xml (EX-101.PRE) — 11KB
- d861822d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Executive Transition Agreement, dated September 23, 2024, by and between the Company and Stephen R. Davis. 10.2 Employment Agreement, dated September 23, 2024, by and between the Company and Catherine Owen Adams. 104 Cover page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Acadia Pharmaceuticals Inc. Date: September 23, 2024 By: /s/ Jennifer J. Rhodes Jennifer J. Rhodes Executive Vice President, Chief Legal Officer & Secretary