Thompson Elizabeth H.Z. 4

What Happened
Elizabeth H.Z. Thompson, EVP & Head of Research & Development at ACADIA Pharmaceuticals (ACAD), had restricted stock units convert to common shares and then disposed of shares to cover taxes and in an open-market sale. The filing shows a conversion/exercise of 6,715 derivative units on 2026-03-24 and an open-market sale of 3,435 shares on 2026-03-25 at $21.47 each, generating $73,749. A matching 6,715-share disposal at $0 is reported in connection with the derivative conversion (see footnotes).

Key Details

• Transaction dates/prices:
  • 2026-03-24: Conversion/exercise of 6,715 derivative units (reported as acquired N/A).
  • 2026-03-24: Disposal of 6,715 shares at $0.00 (reported as derivative disposition; relates to withholding/tax items).
  • 2026-03-25: Open-market sale of 3,435 shares at $21.47 each for $73,749 total.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes of note:
  • F1: Each restricted stock unit (RSU) equals a contingent right to one common share.
  • F2: The sales were mandatory to cover withholding taxes and intended to comply with Rule 10b5-1(c) requirements.
  • F3: The RSUs vest in four equal annual installments beginning March 24, 2026.
• Filing timeliness: Form filed 2026-03-26 for transactions on 2026-03-24–03-25; appears to be filed within the typical two-business-day Form 4 window.

Context

• This filing reflects RSU vesting and related tax withholding rather than an independent market-timing decision. The derivative conversion (M code) and $0 disposals indicate shares were used to satisfy tax/withholding obligations; the separate open-market sale realized $73,749 in proceeds.
• Such mandatory withholding sales are common when restricted stock units vest and do not necessarily signal the insider’s view on the company’s prospects.