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

Rhea-AI Summary

On September 2, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced granting stock options to six new employees, totaling 27,000 shares, as per Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $0.36 per share and will vest over four years, starting with 25% on the first anniversary. This move aims to attract talent crucial for advancing Akebia's mission to improve the lives of those affected by kidney disease.

Positive

• Inducement grants of 27,000 stock options may enhance employee retention.
• The exercise price aligns with the stock's closing price, indicating fair value for new hires.

Negative

• None.

CAMBRIDGE, Mass., Sept. 2, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted six newly-hired employees options to purchase an aggregate of 27,000 shares of Akebia's common stock on August 31, 2022, as inducements material to each 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 $0.36 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 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 stock options did Akebia Therapeutics grant on September 2, 2022?

Akebia Therapeutics granted stock options to six new employees, totaling 27,000 shares.

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

The exercise price for the stock options is $0.36 per share.

How long is the vesting period for Akebia's stock options?

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

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

The stock options are intended as inducements for new employees joining Akebia.