Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

On February 1, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to 17 new employees, totaling 129,000 shares. The exercise price of these options is $1.99 per share, which corresponds with the closing stock price on the grant date, January 31, 2022. Options will vest over four years, beginning with 25% after one year. This move aims to incentivize the new hires as part of Akebia's ongoing strategy to enhance its workforce and improve outcomes in kidney disease treatment.

Positive

• Granting of 129,000 stock options to 17 new employees, which can enhance workforce motivation.
• Stock options have a ten-year term, ensuring long-term engagement with employees.

Negative

• None.

CAMBRIDGE, Mass., Feb. 1, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 17 newly-hired employees options to purchase an aggregate of 129,000 shares of Akebia's common stock on January 31, 2022, as inducements material to each such employee's entering into employment with Akebia. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $1.99 per share, which is equal to the closing price of Akebia's common stock on the grant date. Each stock option vests over four years, with 25% of the shares vesting on the first anniversary of the grant date and the remaining 75% of shares vesting quarterly thereafter, in each case, subject to the new employee's continued service with Akebia. Each stock option has a 10-year term and is subject to the terms and conditions of Akebia's inducement award program and a stock option agreement covering the grant.

About Akebia Therapeutics

Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release.

Akebia Therapeutics Contact

Mercedes Carrasco
mcarrasco@akebia.com 

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SOURCE Akebia Therapeutics

FAQ

What is the stock option exercise price for Akebia Therapeutics?

The exercise price for the stock options granted by Akebia Therapeutics is $1.99 per share.

When were the stock options granted by Akebia Therapeutics?

The stock options were granted on January 31, 2022.

How many employees received stock options from Akebia Therapeutics?

Akebia Therapeutics granted stock options to 17 newly-hired employees.

What is the total number of shares associated with the stock options granted?

A total of 129,000 shares were granted as stock options.

How do the stock options vest for Akebia Therapeutics employees?

The stock options vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting quarterly.