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

Rhea-AI Summary

On February 2, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced the issuance of stock options to 19 newly hired employees. A total of 161,000 shares will be available at an exercise price of $3.24 per share, matching the stock's closing price on the grant date of January 29, 2021. The options will vest over four years, with 25% vesting after one year and the remainder quarterly, contingent upon continued employment. This grant is part of Akebia's compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Issuance of 161,000 stock options for employee retention.
• Exercise price aligned with the market, suggesting no dilution at grant.

Negative

• None.

CAMBRIDGE, Mass., Feb. 2, 2021 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted 19 newly-hired employees options to purchase an aggregate of 161,000 shares of Akebia's common stock on January 29, 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 $3.24 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 significance of the stock options granted by Akebia Therapeutics on January 29, 2021?

The stock options are part of employee inducement, aligning with Nasdaq compliance, aimed at retaining talent.

How many stock options did Akebia Therapeutics grant to employees?

Akebia granted a total of 161,000 stock options to 19 new employees.

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

The exercise price for the options is set at $3.24 per share.

When will the stock options granted by Akebia vest?

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

Under what rule did Akebia grant stock options to new employees?

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