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

Rhea-AI Summary

On September 2, 2020, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to 10 new employees. The options, totaling 54,000 shares, were granted as inducements for employment and have an exercise price of $10.41 per share, equal to the stock's closing price on the grant date. The stock options will vest over four years, with 25% vesting on the first anniversary and the remainder vesting quarterly. This action complies with Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of 54,000 stock options to 10 new employees enhances workforce commitment.
• Stock options are an inducement for attracting talent.

Negative

• None.

CAMBRIDGE, Mass., Sept. 2, 2020 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 10 newly-hired employees options to purchase an aggregate of 54,000 shares of Akebia's common stock on August 31, 2020, 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 $10.41 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 the company. Each stock option has a 10-year term and is subject to the terms and conditions of the company'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. The Company 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

Kristen K. Sheppard, Esq.
ir@akebia.com 

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SOURCE Akebia Therapeutics

FAQ

What stock options did Akebia grant on August 31, 2020?

Akebia granted options to purchase 54,000 shares of common stock.

What is the exercise price of the stock options granted by Akebia?

The exercise price is $10.41 per share.

How will the stock options vest for new employees at Akebia?

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

What is the purpose of the stock options granted by Akebia?

The options are granted as inducements for new employees entering into employment with Akebia.