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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) announced on August 4, 2020, the granting of stock options to four new employees totaling 23,500 shares. The options were granted on July 31, 2020, as part of the company’s Inducement Award Program, complying with Nasdaq Listing Rule 5635(c)(4). Each option has an exercise price of $11.17 per share, matching the stock's closing price on the grant date. Vesting occurs over four years, with 25% vesting after one year and the remaining shares vesting quarterly, subject to continued employment.

Positive

• Inducement grants may enhance talent acquisition, benefiting company growth.
• Options priced at $11.17 reflect the current market value, ensuring alignment with shareholder interests.

Negative

• None.

CAMBRIDGE, Mass., Aug. 4, 2020 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted four newly-hired employees options to purchase an aggregate of 23,500 shares of Akebia's common stock on July 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 $11.17 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 were granted by Akebia Therapeutics?

Akebia Therapeutics granted options to purchase a total of 23,500 shares to four newly-hired employees.

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

The exercise price of the stock options is $11.17 per share.

When were the stock options granted by Akebia Therapeutics?

The stock options were granted on July 31, 2020.

What is the vesting schedule for the stock options granted by AKBA?

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

What rule governs the stock options granted by Akebia?

The stock options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).