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

Rhea-AI Summary

On January 4, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to eight newly-hired employees, totaling 49,000 shares. The options have an exercise price of $2.26 per share, in line with the stock's closing price on the grant date, December 31, 2021. The vesting period spans four years, with 25% vesting after the first anniversary and the remainder quarterly, contingent upon continued employment. This grant complies with Nasdaq Listing Rule 5635(c)(4), aimed at incentivizing new talent in the biopharmaceutical sector focused on kidney disease.

Positive

• Inducement grants of 49,000 shares to new employees may enhance talent retention and motivation.
• Options granted at a market price can foster alignment with shareholder interests.

Negative

• None.

CAMBRIDGE, Mass., Jan. 4, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted eight newly-hired employees options to purchase an aggregate of 49,000 shares of Akebia's common stock on December 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 $2.26 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 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 was announced by Akebia Therapeutics on January 4, 2022?

Akebia Therapeutics announced the grant of 49,000 stock options to eight new employees as inducements for their employment.

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

The exercise price of the stock options is $2.26 per share, equal to the closing price on the grant date.

How long is the vesting period for the stock options granted by Akebia?

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

What rule did Akebia follow for the recent stock option grants?

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

How many shares were granted to each new employee at Akebia?

The total of 49,000 shares were granted among eight newly-hired employees.