SECURITIES AND EXCHANGE COMMISSION
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|Item 5.02|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 10, 2022, upon the recommendation of our Nominating and Corporate Governance Committee, our Board of Directors (the “Board”) increased the size of the Board from eight to nine members, and effective October 12, 2022, appointed Adora Ndu, Pharm.D., J.D. as a director to fill the newly created vacancy. Dr. Ndu will serve as a Class I director, with an initial term expiring at our 2023 Annual Meeting of Stockholders. Dr. Ndu received our standard compensation package for an outside director, including a stock option to purchase shares of our common stock with a fair value of $150,000 and a restricted stock unit award covering shares of our common stock with a fair value of $150,000, each of which was granted under our 2010 Equity Incentive Plan, as amended. Information about our arrangements with our outside directors is included in our annual proxy statement, last filed on April 29, 2022, which includes the description of outside director compensation under our non-employee director compensation policy. Dr. Ndu will not initially serve on any committees.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Acadia Pharmaceuticals Inc.|
|Dated: October 13, 2022||By:|| |
/s/ Austin D. Kim
|Austin D. Kim|
|Executive Vice President, General Counsel & Secretary|