Owen Adams Catherine 4

What Happened

• Catherine Owen Adams (listed in the filing as Owen Adams Catherine), CEO of ACADIA Pharmaceuticals (ACAD), had 23,509 restricted stock units convert to common shares on 2026-03-24 (reported as derivative exercise/conversion, $0.00 per share). Following the vesting, 11,641 shares were sold in an open-market transaction on 2026-03-25 at $21.47 per share, generating proceeds of $249,932.
• Net effect: of the 23,509 shares that converted, 11,641 were sold to cover tax-related items, leaving a net increase of about 11,868 shares retained by the CEO from this vesting event.

Key Details

• Transaction dates and prices:
  • 2026-03-24: 23,509 RSUs converted to 23,509 common shares (derivative conversion, $0.00 per share).
  • 2026-03-25: 11,641 shares sold at $21.47 each for $249,932.
• Shares owned after transaction: not specified in the provided excerpt of the filing; net newly retained shares from this vesting event ≈ 11,868.
• Footnotes of note:
  • F1: Each restricted stock unit (RSU) represents a contingent right to one share.
  • F3: The sale was a mandatory sell-to-cover to satisfy withholding taxes related to RSU vesting and is intended to comply with Rule 10b5-1(c).
  • F4: These RSUs vest in four equal annual installments starting March 24, 2026 (this appears to be the first installment).
  • F2: The filing also notes 2,935 shares were acquired via the employee stock purchase plan on May 15, 2025.
• Filing: Form 4 was filed on 2026-03-26 for transactions dated 2026-03-24/03-25; this appears to be timely (filed within the standard two-business-day window).

Context

• The derivative entries reflect RSU vesting (conversion to common stock). Part of the vested shares were immediately sold in a sell-to-cover transaction to cover tax withholding — a routine, administrative transaction rather than a discretionary investment sale.
• The sale proceeds were about $250k; the transaction does not, by itself, indicate the CEO’s broader view on the company’s prospects.