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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focused on kidney disease, has granted stock options to three newly-hired employees as part of their employment inducement. The grants, made on July 31, 2024, include options to purchase a total of 47,000 shares of Akebia's common stock at an exercise price of $1.38 per share, which matches the closing price on the grant date.

These options vest over a four-year period, with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. Each option has a 10-year term and is subject to Akebia's inducement award program and specific stock option agreements.

Positive

• Akebia Therapeutics is attracting new talent with stock option incentives
• The company's stock price remained stable at $1.38 per share

Negative

• Potential dilution of existing shareholders' equity due to new stock options

CAMBRIDGE, Mass., Aug. 1, 2024 /PRNewswire/ -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted three newly-hired employees options to purchase an aggregate of 47,000 shares of Akebia's common stock on July 31, 2024. The options were granted as an inducement 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 $1.38 per share, which is equal to the closing price of Akebia's common stock on the grant date. The stock options vest 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 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/akebia-therapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302212669.html

SOURCE Akebia Therapeutics, Inc.

FAQ

How many shares of Akebia Therapeutics (AKBA) stock were granted as options on July 31, 2024?

Akebia Therapeutics granted options to purchase an aggregate of 47,000 shares of its common stock on July 31, 2024.

What is the exercise price for the stock options granted by Akebia Therapeutics (AKBA) on July 31, 2024?

The exercise price for the stock options granted is $1.38 per share, equal to the closing price of Akebia's common stock on the grant date.

What is the vesting schedule for the stock options granted by Akebia Therapeutics (AKBA)?

The stock options vest over four years, with 25% vesting on the first anniversary of the grant date and the remaining 75% vesting quarterly thereafter, subject to continued employment.

What is the term length of the stock options granted by Akebia Therapeutics (AKBA) on July 31, 2024?

Each stock option granted has a 10-year term.