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

Rhea-AI Summary

On April 4, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to nine newly-hired employees, totaling 53,000 shares. Each option has an exercise price of $0.72, matching the closing stock price on the grant date. These options vest over four years, with 25% vesting on the first anniversary and the remainder quarterly, contingent on continued employment. The grant complies with Nasdaq Listing Rule 5635(c)(4) and aims to strengthen employee retention and incentivize performance.

Positive

• Granting of 53,000 stock options to new employees may enhance retention and motivation.
• Stock options priced at market value encourage alignment with shareholder interests.

Negative

• None.

CAMBRIDGE, Mass., April 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 nine newly-hired employees options to purchase an aggregate of 53,000 shares of Akebia's common stock on March 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 $0.72 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 was announced by Akebia Therapeutics on April 4, 2022?

Akebia Therapeutics announced the grant of stock options to nine new employees totaling 53,000 shares.

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

The exercise price of the stock options is $0.72 per share.

How will the stock options vest for new employees at Akebia?

The stock options will vest over four years, with 25% vesting after one year and the rest vesting quarterly.

Is the stock options grant by Akebia compliant with Nasdaq regulations?

Yes, the grant complies with Nasdaq Listing Rule 5635(c)(4).

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

The purpose is to incentivize new employees and enhance retention.