View:
Download DOC
Download PDF
Download XLS
ACADIA Pharmaceuticals Inc. - FORM 8-k



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  March 15, 2016

Commission File Number:  000-50768

ACADIA Pharmaceuticals Inc.
(Exact name of registrant as specified in its charter.)

Delaware
(State or other jurisdiction of incorporation or organization)
061376651
(IRS Employer Identification No.)



3611 Valley Centre Drive, Suite 300, San Diego, California 92130
(Address of principal executive offices)

858-558-2871
(Registrant's Telephone number)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On March 15, 2016, the Board of Directors of ACADIA Pharmaceuticals Inc. adopted an updated annual incentive cash compensation program for its executive officers to be effective beginning with 2016. The description of this program is set forth in Exhibit 99.1 and is incorporated herein by reference.

SIGNATURES
 
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.


Date:   March 18, 2016
By: /s/ Glenn F. Baity
Name: Glenn F. Baity
Title: EVP, General Counsel & Secretary

Exhibit Index
 
Exhibit No.
   
Description
EX-99.1
   
Description of Executive Officer Annual Incentive Cash Compensation Program
EXHIBIT 99



ACADIA Pharmaceuticals Inc.

Description of Executive Officer Annual Incentive Cash Compensation Program

The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of ACADIA Pharmaceuticals Inc. (the “Company”) has recommended to the Board, and the Board has approved, an annual incentive cash compensation program for the Company’s executive officers. The program provides for an annual incentive cash compensation target equal to a percentage of each executive’s base salary.  The initial targets, which may be adjusted by the Board, are as follows: 70% for the President and Chief Executive Officer, 50% for the Executive Vice President, Head of Research and Development, and 45% for each of the Company’s other Executive Vice Presidents.  The Board will set the target percentage for any new executive officer.

Under the program, after the completion of each fiscal year, the Committee recommends to the Board for approval for each then-current executive a bonus that will be equal to an amount from 0 to 150% of the applicable target amount, which may be pro-rated for any partial year of employment. The Committee will also recommend to the Board any adjustments to the target bonus for each executive officer. In making its recommendations, the Committee assesses the level of achievement of specific criteria by the executive and the Company. These criteria include regulatory advancement or approvals for the Company’s product candidates, commercial achievements for any Company products, the advancement of the Company’s clinical programs, and other criteria the disclosure of which would reveal confidential business information and plans of the Company.