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

Rhea-AI Summary

On June 2, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to 15 new employees totaling 121,000 shares. The options were issued as inducements for employment and have an exercise price of $3.51, equivalent to the stock's closing price on the grant date. Vesting occurs over four years, with 25% vesting after one year and the remainder quarterly, contingent on continued employment. This grant complies with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., June 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 15 newly-hired employees options to purchase an aggregate of 121,000 shares of Akebia's common stock on May 28, 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 $3.51 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 

View original content to download multimedia:http://www.prnewswire.com/news-releases/akebia-therapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301304220.html

SOURCE Akebia Therapeutics

FAQ

What stock options did Akebia Therapeutics grant to its new employees?

Akebia Therapeutics granted stock options totaling 121,000 shares to 15 new employees as inducements for employment.

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

The exercise price for the stock options is $3.51 per share.

When do the stock options for Akebia Therapeutics employees vest?

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

What rule did Akebia Therapeutics follow for the stock options grant?

The stock options grant was made in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the purpose of the stock options granted by Akebia Therapeutics?

The stock options were granted to incentivize and attract new hires to the company.