Acadia CEO Stephen R. Davis terminated Sept 23; Catherine Owen Adams appointed

ACADIA PHARMACEUTICALS INC

Stephen R. Davis involuntarily terminated without cause as President and CEO effective Sept 23, 2024; resigns from board.
Davis receives severance: 1.5x base+target bonus, pro-rata 2024 bonus, 12 months accelerated equity, 18 months COBRA.
Catherine Owen Adams appointed CEO and director effective Sept 23; previously SVP and GM U.S. at BMS overseeing $20B business.
Adams compensation: $900k base salary, 80% target bonus, $500k sign-on, plus equity awards of $3.25M in options and $3.25M in PSUs.

item 5.02 item 9.01

Executive movements

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Departed

Stephen R. Davis

President and Chief Executive Officer

ACAD · ACADIA PHARMACEUTICALS INC

Effective: 2024-09-23
Successor: Catherine Owen Adams
Filed: September 23, 2024, 7:59 PM ET

Stephen R. Davis is departing the Company and will be succeeded by Catherine Owen Adams.

Appointed

Catherine Owen Adams

Chief Executive Officer

ACAD · ACADIA PHARMACEUTICALS INC

Effective: 2024-09-23
Filed: September 23, 2024, 7:59 PM ET

On September 20, 2024, the Board appointed Catherine Owen Adams, age 54, to serve as the Chief Executive Officer of the Company, including as the “principal executive officer” of the Company within the meaning of Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, effective as of the Transition Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen R. Davis was terminated as President and Chief Executive Officer at ACADIA PHARMACEUTICALS INC.

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

Stephen R. Davis is departing the Company and will be succeeded by Catherine Owen Adams.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Catherine Owen Adams was appointed as Chief Executive Officer at ACADIA PHARMACEUTICALS INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On September 20, 2024, the Board appointed Catherine Owen Adams, age 54, to serve as the Chief Executive Officer of the Company, including as the “principal executive officer” of the Company within the meaning of Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, effective as of the Transition Date.

View on SEC.gov

ACADIA PHARMACEUTICALS INC filing history →

Source: SEC EDGAR

accession 0001193125-24-223726

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