Form 4: Acadia Pharmaceuticals Executive Brendan Teehan Reports Stock Transactions
SEC Form 4 Filing
EVP, COO, and Head of Commercial Brendan Teehan of Acadia Pharmaceuticals reports the vesting of restricted stock units and subsequent sale of shares to cover withholding taxes.
Summary
- Brendan Teehan, EVP, COO, and Head of Commercial at Acadia Pharmaceuticals, filed a Form 4 detailing changes in beneficial ownership.
- On February 23, 2024, 1,107 restricted stock units vested, each representing a contingent right to receive one share of Acadia Pharmaceuticals common stock.
- Also on February 23, 2024, 1,107 shares were acquired through the vesting of restricted stock units.
- On February 26, 2024, Mr. Teehan sold 624 shares of common stock at a price of $24.67 per share.
- The sale was mandatory and intended to cover withholding taxes and tax-related items associated with the vesting of the restricted stock units.
- Following these transactions, Mr. Teehan directly owns 31,432 shares of Acadia Pharmaceuticals common stock and 1,107 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with company performance.
Stakeholder Impact
- Shareholders may be interested in insider transactions as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 02/23/2022 | Beginning date of the four equal annual installments for the vesting of restricted stock units. |
| 02/23/2024 | Vesting of 1,107 restricted stock units. |
| 02/26/2024 | Sale of 624 shares of common stock at $24.67 per share. |
| 02/27/2024 | Date of Power of Attorney execution. |
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