Schneyer Mark C. 4

What Happened

• Mark C. Schneyer, Chief Financial Officer of ACADIA Pharmaceuticals (ACAD), had restricted stock units convert to common shares on March 24–25, 2026 and immediately sold a portion to cover tax withholding. The Form 4 shows exercises/conversions of 8,138 RSUs on 3/24 and 6,178 RSUs on 3/25 (M-coded entries), and open-market sales of 4,177 shares on 3/25 and 3,208 shares on 3/26 (3,171 + 37).
• Sale details: 4,177 shares @ $21.47 on 2026-03-25 = $89,680; 3,171 shares @ $21.65 on 2026-03-26 = $68,652; 37 shares @ $21.72 on 2026-03-26 = $804. Total disposed in these sales = 7,385 shares for ~$159,136. The M entries show conversion of RSUs with no cash exercise price ($0.00).

Key Details

• Transaction dates & prices: 3/24 (RSU conversion 8,138), 3/25 (RSU conversion 6,178; sale 4,177 @ $21.47), 3/26 (sales 3,171 @ $21.65 and 37 @ $21.72).
• Total proceeds from reported open-market sales: about $159,136.
• Footnotes: F1—each RSU = right to one common share; F2—sales were mandatory to cover withholding taxes and intended to comply with Rule 10b5-1(c); F3/F4—two RSU grants with staggered vesting schedules (vesting in four equal annual installments beginning 3/24/2026 and 3/25/2025).
• Shares owned after the transactions: not specified in the provided filing data.
• Filing timeliness: Form filed 2026-03-26 for transactions on 3/24–3/26; no late-filing flag indicated in the provided information.

Context

• These entries reflect RSU conversions and immediate mandatory sales to satisfy tax withholding (an administrative, not necessarily market-timing, action). The RSUs converted with no cash exercise price, and shares were sold shortly afterward—effectively a tax-withholding share disposition rather than a discretionary sell signal.
• For retail investors: routine tax-withholding sales after RSU vesting are common and should not be interpreted alone as a directional insider vote on the company.