Acadia (ACAD) director disposes 1,600 shares; 25,382 remain

Rhea-AI Filing Summary

Acadia Pharmaceuticals director Elizabeth A. Garofalo reported a sale of 1,600 shares of Acadia common stock on 09/02/2025 at a weighted average price of $25.9753. Following the sale, the reporting person beneficially owned 25,382 shares. The filer notes the reported price is a weighted average for multiple transactions that ranged from $25.97 to $25.991 and offers to provide details on quantities sold at each price upon request. The Form 4 was signed by an attorney-in-fact on 09/03/2025.

Positive

• Timely and compliant disclosure of the insider sale on Form 4 with weighted average price details
• Transparency offered by the reporting person to provide per-trade quantities within the disclosed price range upon request

Negative

• Reduction in insider ownership by 1,600 shares, leaving the director with 25,382 shares

Insights

Securities Analyst

TL;DR A director executed a routine disposition of a small block of shares, modestly reducing her holding.

The transaction is a straightforward open-market sale of 1,600 shares at an average price near $25.98, leaving the director with 25,382 shares. This change represents a modest reduction in insider holdings and does not, by itself, indicate a material change to governance or capital structure. The disclosure includes the required weighted average price range and an offer to provide per-trade quantities, which supports transparency.

Corporate Governance Expert

TL;DR Insider sale by a director appears routine and adequately disclosed.

The filing shows the reporting person is a director and not a 10% owner, and the sale was properly reported on Form 4 with the weighted average price disclosure. There is no indication of acceleration clauses, option exercises, or derivative transactions. From a governance standpoint, this is a standard compliance disclosure with no evident governance red flags disclosed in the form.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GAROFALO ELIZABETH A.

(Last) (First) (Middle)

C/O ACADIA PHARMACEUTICALS INC.

12830 EL CAMINO REAL, SUITE 400

(Street)

SAN DIEGO CA 92130

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACADIA PHARMACEUTICALS INC [ ACAD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/02/2025		S		1,600	D	$25.9753(1)	25,382	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.97 to $25.991, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

	/s/ Jennifer J. Rhodes, Attorney-in-Fact	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Elizabeth A. Garofalo report on Form 4 for ACAD?

She reported a sale of 1,600 shares of Acadia common stock on 09/02/2025 at a weighted average price of $25.9753.

How many ACAD shares does the reporting person own after the transaction?

The reporting person beneficially owned 25,382 shares following the reported sale.

What price range was disclosed for the ACAD share sales?

The seller disclosed that trades occurred at prices ranging from $25.97 to $25.991, inclusive, and the reported price is a weighted average.

When was the Form 4 signed and filed?

The signature by the attorney-in-fact is dated 09/03/2025 in the filing.

Was the reporting person an officer or a 10% owner of ACAD?

The filing indicates the reporting person is a Director and not identified as a 10% owner or officer.