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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to five new employees, totaling 30,000 shares, on October 31, 2022. The options, priced at $0.25 per share, equal the closing price on the grant date and will vest over four years, with 25% vesting after the first year and the remainder quarterly. This inducement was made in compliance with Nasdaq Listing Rule 5635(c)(4). Akebia aims to enhance the lives of those affected by kidney disease.

Positive

• Inducement grants to five new employees potentially enhance talent acquisition for Akebia.
• Stock options priced at $0.25 align with the market value, reflecting a favorable grant structure.

Negative

• None.

CAMBRIDGE, Mass., Nov. 2, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted five newly-hired employees options to purchase an aggregate of 30,000 shares of Akebia's common stock on October 31, 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 $0.25 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 stock options did Akebia Therapeutics grant on October 31, 2022?

Akebia Therapeutics granted options to purchase 30,000 shares to five new employees on October 31, 2022.

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

The exercise price for the stock options is $0.25 per share.

How do the stock options for Akebia employees vest?

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

Under which Nasdaq rule did Akebia grant the stock options?

The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the purpose of Akebia Therapeutics?

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