Rhodes Jennifer J 4

What Happened
Jennifer J. Rhodes, EVP and Chief Legal Officer of ACADIA Pharmaceuticals (ACAD), had 7,515 restricted stock units (RSUs) vest/convert to common shares on 2026-03-24 and sold 3,844 shares in an open-market transaction on 2026-03-25 at $21.47 per share for proceeds of $82,531. The RSU conversion is reported as an exercise/conversion of a derivative (zero exercise price), and a portion of shares was sold to cover tax withholding.

Key Details

• Transaction dates/prices:
  • 2026-03-24: 7,515 RSUs converted to 7,515 shares (reported at $0.00) — derivative exercise/conversion.
  • 2026-03-25: Open-market sale of 3,844 shares at $21.47 each for $82,531 total.
• Shares owned after the transactions: Not specified in the provided Form 4.
• Footnotes of note:
  • F1: Each RSU equals a contingent right to one share.
  • F2: The sale was a mandatory withholding sale to cover taxes related to RSU vesting and is intended to comply with Rule 10b5‑1(c).
  • F3: The RSUs vest in four equal annual installments beginning March 24, 2026.
• Filing timeliness: Report filed 2026-03-26 (appears timely based on the reported transaction dates).

Context
This sequence reflects RSU vesting followed by a routine, mandatory sale to satisfy withholding tax obligations rather than an opportunistic market sale; such tax-withholding disposals are common after equity awards vest. The conversion of RSUs (a derivative event) produced shares, some of which were sold to cover taxes; remaining vested shares were likely retained.