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

Rhea-AI Summary

Akebia Therapeutics granted stock options to 14 newly-hired employees, totaling 95,000 shares at an exercise price of $2.47 per share, equivalent to the stock’s closing price on the grant date, July 30, 2021. The stock options will vest over four years, with 25% vesting after the first year and the remainder quarterly, contingent upon continued employment. This grant complies with Nasdaq Listing Rule 5635(c)(4), reflecting Akebia's commitment to attracting talent in the biopharmaceutical sector focusing on kidney disease treatment.

Positive

• Inducement grants of stock options to 14 employees enhance talent acquisition.
• Stock options are tied to performance, aligning employee incentives with company growth.

Negative

• None.

CAMBRIDGE, Mass., Aug. 3, 2021 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 14 newly-hired employees options to purchase an aggregate of 95,000 shares of Akebia's common stock on July 30, 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 $2.47 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 stock option grant date for Akebia Therapeutics?

The stock option grant date for Akebia Therapeutics was July 30, 2021.

How many shares were granted as stock options by Akebia Therapeutics?

Akebia Therapeutics granted a total of 95,000 shares as stock options.

What is the exercise price of Akebia's stock options?

The exercise price of Akebia's stock options is $2.47 per share.

What is the vesting schedule for Akebia Therapeutics' stock options?

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

Which Nasdaq rule did Akebia Therapeutics comply with for the stock options?

Akebia Therapeutics' stock options comply with Nasdaq Listing Rule 5635(c)(4).