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

Rhea-AI Summary

Akebia Therapeutics grants two newly-hired employees options to purchase 24,000 shares of common stock.

Positive

• Newly-hired employees granted options to purchase 24,000 shares of Akebia's common stock at an exercise price of $0.92 per share.

Negative

• None.

CAMBRIDGE, Mass., July 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 two newly-hired employees options to purchase an aggregate of 24,000 shares of Akebia's common stock on June 30, 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 $0.92 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 is the news about?

The news is about Akebia Therapeutics granting options to newly-hired employees.

How many shares were granted?

A total of 24,000 shares were granted.

What is the exercise price?

The exercise price is $0.92 per share.