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

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Akebia Therapeutics (Nasdaq: AKBA) has granted stock options to nine newly-hired employees on November 29, 2024. The inducement grants total 121,000 shares of common stock with an exercise price of $2.06 per share, matching the closing price on the grant date. The options follow a four-year vesting schedule with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. These 10-year term options were granted under Nasdaq Listing Rule 5635(c)(4) as part of Akebia's inducement award program.

CAMBRIDGE, Mass., Dec. 3, 2024 /PRNewswire/ -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted nine newly-hired employees options to purchase an aggregate of 121,000 shares of Akebia's common stock on November 29, 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 $2.06 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 

 

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SOURCE Akebia Therapeutics, Inc.

FAQ

What is the exercise price of Akebia Therapeutics (AKBA) inducement stock options granted on November 29, 2024?

The exercise price of the inducement stock options is $2.06 per share, equal to Akebia's common stock closing price on November 29, 2024.

How many shares were included in Akebia Therapeutics' (AKBA) November 2024 inducement grants?

Akebia Therapeutics granted options to purchase an aggregate of 121,000 shares to nine newly-hired employees.

What is the vesting schedule for Akebia Therapeutics' (AKBA) November 2024 inducement stock options?

The options vest over four years, with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, subject to continued employment.