STEPHEN DAVIS - 14 Jul 2023 Form 4 Insider Report for ACADIA PHARMACEUTICALS INC (ACAD)

Role
CEO, Director
Signature
/s/ Austin D. Kim, Attorney-in-Fact
Issuer symbol
ACAD
Transactions as of
14 Jul 2023
Net transactions value
-$927,350
Form type
4
Filing time
18 Jul 2023, 18:00:06 UTC
Previous filing
13 Jul 2023
Next filing
06 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACAD Common Stock Options Exercise $2,077,000 +100,000 +273% $20.77 136,695 14 Jul 2023 Direct
transaction ACAD Common Stock Sale $3,004,350 -100,000 -73% $30.04 36,695 14 Jul 2023 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACAD Stock Option (Right to Buy) Options Exercise $0 -100,000 -31% $0.000000 220,000 14 Jul 2023 Common Stock 100,000 $20.77 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 17, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.38, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F3 25% of the shares subject to the stock option vest and become exercisable on July 15, 2015. The remaining shares vest and become exercisable thereafter in 36 equal monthly installments.