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

Rhea-AI Summary

On February 1, 2023, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to three newly-hired employees. A total of 18,000 shares were awarded as inducements for joining the company, in compliance with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $0.63 per share, matching Akebia's closing stock price on the grant date. The options will vest over four years, with 25% vesting on the first anniversary and the rest vesting quarterly, contingent upon continued employment. These options have a 10-year term, governed by Akebia's inducement award program and related agreements.

Positive

• Inducement grants for new employees can enhance talent acquisition and retention.
• Stock options priced at $0.63 align with the market value, encouraging employee investment in company success.

Negative

• None.

CAMBRIDGE, Mass., Feb. 1, 2023 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted three newly-hired employees options to purchase an aggregate of 18,000 shares of Akebia's common stock on January 31, 2023, as inducements material to 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 $0.63 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

FAQ

What are the details of the stock options granted by Akebia Therapeutics on February 1, 2023?

On February 1, 2023, Akebia Therapeutics granted 18,000 stock options at an exercise price of $0.63 per share to three new employees.

How do the stock options for Akebia employees vest?

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

Which rule governs Akebia's stock option grants?

The stock option grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the significance of the stock options being granted at $0.63 per share?

The exercise price of $0.63 per share reflects Akebia's closing stock price on the grant date, aligning employee interests with company performance.