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

Rhea-AI Summary

On November 3, 2020, Akebia Therapeutics (Nasdaq: AKBA) announced it granted stock options to 6 newly-hired employees, totaling 27,000 shares. The options, priced at $2.22 per share, reflect the company's closing stock price on the grant date of October 30, 2020. Each option vests over four years, with 25% vesting on the first anniversary and the remainder quarterly, conditional on continued employment. These grants align with Nasdaq Listing Rule 5635(c)(4), enhancing the company’s talent acquisition strategy.

Positive

• Inducement grants of stock options can help attract and retain talent.
• The exercise price of $2.22 reflects a commitment aligned with market value.

Negative

• None.

CAMBRIDGE, Mass., Nov. 3, 2020 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 6 newly-hired employees options to purchase an aggregate of 27,000 shares of Akebia's common stock on October 30, 2020, 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 $2.22 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-5635c4-301165848.html

SOURCE Akebia Therapeutics

FAQ

What are the details of the stock options granted by Akebia Therapeutics?

Akebia granted options for 27,000 shares at an exercise price of $2.22, vesting over four years.

When were the stock options granted by Akebia Therapeutics?

The stock options were granted on October 30, 2020.

Under which rule did Akebia grant the stock options?

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the vesting schedule for the stock options at Akebia?

The options vest 25% on the first anniversary and 75% quarterly thereafter, dependent on continued service.