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

Rhea-AI Summary

On October 3, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options for 50,000 shares to four new employees, as an inducement for their employment. The options, awarded on September 30, 2022, have an exercise price of $0.32 per share, matching the closing stock price on the grant date. These options vest over four years, beginning with 25% on the first anniversary and the remaining 75% quarterly, contingent on the employees' continued service. The announcement complies with Nasdaq Listing Rule 5635(c)(4).

Positive

• Granting of stock options may enhance employee retention and incentivize productivity.
• Options granted at market price could align employee interests with shareholder value.

Negative

• None.

CAMBRIDGE, Mass., Oct. 3, 2022 /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 50,000 shares of Akebia's common stock on September 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 $0.32 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 was announced by Akebia Therapeutics on October 3, 2022?

Akebia Therapeutics announced the grant of 50,000 stock options to four new employees.

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

The exercise price of the stock options is $0.32 per share.

How long is the vesting period for the stock options at Akebia?

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

Under which Nasdaq rule did Akebia grant the stock options?

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

What does the stock option grant signify for Akebia's new employees?

The grant serves as an inducement for the new employees to join Akebia, aligning their interests with the company's performance.