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

Rhea-AI Summary

On April 2, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to 19 new employees totaling 131,000 shares to enhance recruitment efforts. These options have an exercise price of $3.38, the same as the stock's closing price on the grant date. Each option vests over four years, with 25% vesting after one year and the remainder quarterly, contingent on continued employment. The options adhere to Nasdaq Listing Rule 5635(c)(4) as part of the company's Inducement Award Program.

Positive

• Inducement stock options granted to 19 new employees signal strong hiring efforts.
• Options may incentivize long-term employee retention with a vesting schedule.

Negative

• None.

CAMBRIDGE, Mass., April 2, 2021 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 19 newly-hired employees options to purchase an aggregate of 131,000 shares of Akebia's common stock on March 31, 2021, as inducements material to each such employee's 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 $3.38 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 the company. Each stock option has a 10-year term and is subject to the terms and conditions of the company'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. The Company 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
Kristen K. Sheppard, Esq.
ir@akebia.com 

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SOURCE Akebia Therapeutics

FAQ

What is the significance of the stock options granted by Akebia Therapeutics on April 2, 2021?

The stock options, granted to 19 new employees, aim to enhance recruitment and retention, aligning employee interests with company performance.

When do the stock options for Akebia Therapeutics employees vest?

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

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

The exercise price of the stock options is $3.38, equal to the closing price of Akebia's common stock on the grant date.

How many shares were granted to employees by Akebia Therapeutics?

A total of 131,000 shares were granted to 19 newly hired employees as stock options.