Acorda Therapeutics, Inc. (NASDAQ:ACOR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02

On February 21, 2017, Acorda Therapeutics, Inc. (the Company)
announced that Catherine D. Strader, Ph.D., was elected to the
Companys Board of Directors effective February 17, 2017 as one of
the Companys Class I Directors whose term expires at the Companys
2018 annual meeting.In connection with Dr. Straders election to
the Board, in accordance with the authority set forth in the
Companys Bylaws, the Board expanded the size of the Board from
eight (8) to nine (9) directors and the number of Class I
directors from two (2) to three (3). Dr. Strader was also elected
to serve as a member of the Boards Research Development
Committee.

Upon her appointment to the Board of Directors, Dr. Strader
became entitled to compensation in accordance with our director
compensation policy. to this policy as currently in effect, each
of our directors receives a base annual cash retainer of $50,000,
and each member of the Research Development Committee receives an
additional annual cash retainer of $7,000. In the case of a
director who is elected to the Board of Directors other than at
an annual meeting of our stockholders, such as Dr. Strader, the
retainer will be prorated based on the portion of the current
term (which ends with our next annual meeting, and which in Dr.
Straders case is the 2017 annual meeting) that she will serve as
a member of the Board of Directors. Also, as a new member of the
Board of Directors, Dr. Strader has been awarded an initial stock
option grant for 25,000 shares of our common stock, and she will
be entitled to receive annual stock option grants. Under the
director compensation policy, annual stock option grants are made
each year on the date of our annual meeting of stockholders.
Currently, our directors receive an annual stock option grant for
15,000 shares of our common stock. Options awarded to our
directors vest over a one-year period in equal quarterly
installments, have a ten year term (which may be shortened if a
directors membership on our board terminates), and have an
exercise price equal to the fair market value of our common stock
on the date of grant (equal to the closing price of our common
stock on the NASDAQ market on the date of grant). In the case of
a new director such as Dr. Strader, who was not first elected to
our Board at an annual meeting of stockholders, her first annual
stock option grant will be awarded when her initial stock option
grant is fully vested (i.e., on the first anniversary of her
election to the Board), and the amount of that first annual award
will be prorated based on the period of time between the grant
date of the annual award and the date of our 2018 annual meeting.
Our directors are also reimbursed for appropriate expenses
related to their service on our Board.

There is no arrangement or understanding between Dr. Strader and
any other persons or entities to which Dr. Strader was appointed
as a director.

Since the beginning of the Companys 2016 fiscal year, neither Dr.
Strader nor any immediate family member of Dr. Strader has been a
party to any transaction or currently proposed transaction with
Dr. Strader that is reportable under Item 404(a) of Regulation
S-K.

A copy of the press release announcing Dr. Straders election to
the Board of Directors is attached as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated by reference into
this Item.

Item 9.01Financial Statements and Exhibits

(d) Exhibits

About Acorda Therapeutics, Inc. (NASDAQ:ACOR)

Acorda Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza. Its research and development programs include CVT-301, Dalfampridine, Plumiaz, Neuregulin Program, Remyelinating Antibodies Program, CVT-427 and Chondroitinase Program. Its Ampyra is an oral drug for the treatment to improve walking in patients with multiple sclerosis. Zanaflex Capsules and tablets are used as short-acting drugs for the management of spasticity. Qutenza is a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia. Its pipeline of neurological therapies addresses a range of disorders, including Parkinson’s disease, chronic post-stroke walking deficits and migraine.

Acorda Therapeutics, Inc. (NASDAQ:ACOR) Recent Trading Information

Acorda Therapeutics, Inc. (NASDAQ:ACOR) closed its last trading session 00.00 at 25.30 with 542,234 shares trading hands.