Form 4: Acadia Pharmaceuticals Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Mark C. Schneyer, EVP and CFO of Acadia Pharmaceuticals, sold shares to cover withholding taxes related to vesting restricted stock units.
Summary
- On April 5, 2024, Mark C. Schneyer, the EVP and CFO of Acadia Pharmaceuticals, had 5,275 restricted stock units vest, which were then converted into common stock.
- On April 8, 2024, Schneyer sold 2,716 shares of common stock at a weighted average price of $17.87 per share.
- The sales were mandatory to cover withholding taxes and tax-related items imposed by Acadia Pharmaceuticals in connection with the vesting of restricted stock units.
- Following these transactions, Schneyer directly owns 28,742 shares of Acadia Pharmaceuticals common stock.
- He also owns 10,551 restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (selling shares to cover taxes on vested stock), so the sentiment is neutral.
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.
Key Dates
| Date | Description |
|---|---|
| 04/05/2023 | Start date for the vesting of restricted stock units in four equal annual installments. |
| 04/05/2024 | Restricted stock units vested and converted to common stock. |
| 04/08/2024 | Sale of common stock to cover withholding taxes. |
| 04/09/2024 | Date of signature for the Form 4 filing. |
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