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

Rhea-AI Summary

On July 5, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to two newly-hired employees, totaling 4,000 shares. These options were awarded to incentivize employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each option has an exercise price of $0.35, which matches the closing stock price on the grant date. The options vest over four years, with 25% vesting on the first anniversary and the remainder vesting quarterly, contingent on continued service. Akebia focuses on therapeutics for kidney disease.

Positive

• Granting stock options to new employees can enhance retention and motivate performance.
• The exercise price of $0.35 aligns with the stock's market value, indicating a fair incentive for new hires.

Negative

• None.

CAMBRIDGE, Mass., July 5, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted two newly-hired employees options to purchase an aggregate of 4,000 shares of Akebia's common stock on June 30, 2022, as inducements material to each such employee 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 $0.35 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 recent stock options were granted by Akebia Therapeutics (AKBA)?

On June 30, 2022, Akebia granted options for 4,000 shares to two new employees.

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

The exercise price for the stock options is $0.35 per share.

Over what period do the new stock options for Akebia employees vest?

The options vest over four years, with 25% vesting on the first anniversary.

What rule did Akebia follow for granting stock options?

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

What is the purpose of Akebia Therapeutics as a company?

Akebia aims to improve the lives of individuals impacted by kidney disease.