Acadia Pharmaceuticals Inc. (ACAD)

[TC_Trader]

You're right they didn't expire for quite some time. What I'm saying is that when part of your compensation is options you exercise some of them. Maybe Leslie Iverson is conservative by nature. Maybe Leslie had been in the process of buying a house for 3 months and it just closed. Maybe Leslie has a personal situation that needs cash now. When you count on options as part of comp you exercise when you have to no matter what may or may not be in the works. In addition, the sponsor doesn't know at this point what the FDA is going to do. All they can go on is how the panel reacted. Also, look at the historical transactions over the past several years. This is normal. Additionally it looks like, if anything, management has slowed down their exercise and sales recently.