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

Rhea-AI Summary

Akebia Therapeutics grants options to newly-hired employees as inducements

Positive

• Akebia Therapeutics granted three newly-hired employees options to purchase 67,000 shares of common stock as inducements. The options have an exercise price of $1.39 per share, equal to the closing price on the grant date. The stock options vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting quarterly thereafter, subject to continued service.

Negative

• None.

CAMBRIDGE, Mass., Sept. 5, 2023 /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 67,000 shares of Akebia's common stock on August 31, 2023, as inducements material to 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 $1.39 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

FAQ

What did Akebia Therapeutics do?

Akebia Therapeutics granted options to newly-hired employees as inducements.

How many shares were granted?

Akebia Therapeutics granted options to purchase 67,000 shares of common stock.

What is the exercise price of the options?

The exercise price of the options is $1.39 per share.

How do the stock options vest?

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

What is the term of each stock option?

Each stock option has a 10-year term.