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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focused on kidney disease, has granted stock options to a newly-hired employee. The grant, made on August 30, 2024, includes options to purchase 4,000 shares of Akebia's common stock at an exercise price of $1.55 per share, matching the closing price on the grant date. These options were awarded as an inducement for employment and comply with Nasdaq Listing Rule 5635(c)(4).

The stock options have a four-year vesting schedule, with 25% vesting after one year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. The options have a 10-year term and are subject to Akebia's inducement award program and a stock option agreement.

Positive

• Akebia Therapeutics is attracting new talent with stock option incentives
• The company is complying with Nasdaq listing rules for inducement grants

Negative

• None.

CAMBRIDGE, Mass., Sept. 3, 2024 /PRNewswire/ -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted one newly-hired employee options to purchase an aggregate of 4,000 shares of Akebia's common stock on August 30, 2024. The options were granted as an inducement material to the 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 $1.55 per share, which is equal to the closing price of Akebia's common stock on the grant date. The stock options vest 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, Inc.

FAQ

How many stock options did Akebia Therapeutics (AKBA) grant to the new employee on August 30, 2024?

Akebia Therapeutics granted options to purchase 4,000 shares of the company's common stock to a newly-hired employee on August 30, 2024.

What is the exercise price of the stock options granted by Akebia Therapeutics (AKBA) on August 30, 2024?

The exercise price of the stock options granted is $1.55 per share, which is equal to the closing price of Akebia's common stock on the grant date.

What is the vesting schedule for the stock options granted by Akebia Therapeutics (AKBA)?

The stock options vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and the remaining 75% vesting quarterly thereafter, subject to the employee's continued service with Akebia.

Under which Nasdaq rule did Akebia Therapeutics (AKBA) grant these stock options?

Akebia Therapeutics granted these stock options in accordance with Nasdaq Listing Rule 5635(c)(4), which allows for inducement grants to new employees.