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

Rhea-AI Summary

On November 1, 2021, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to three new employees, totaling 11,000 shares. The options were granted on October 29, 2021, at an exercise price of $2.87 per share, equal to the closing stock price on that date. These options will vest over four years, with 25% vesting on the first anniversary and the remainder quarterly thereafter, contingent on continued employment. This grant adheres to Nasdaq Listing Rule 5635(c)(4) and is part of the company's Inducement Award Program.

Positive

• Issuance of stock options may attract talent and align employee interests with shareholder value.
• Options are granted at a price equal to the market value, indicating a fair approach.

Negative

• None.

CAMBRIDGE, Mass., Nov. 1, 2021 /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 11,000 shares of Akebia's common stock on October 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 $2.87 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
Mercedes Carrasco
mcarrasco@akebia.com 

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SOURCE Akebia Therapeutics

FAQ

What is the purpose of Akebia Therapeutics?

Akebia Therapeutics aims to improve the lives of individuals affected by kidney disease.

How many stock options did Akebia grant to new employees?

Akebia granted a total of 11,000 stock options to three newly-hired employees.

What is the exercise price for the options granted by Akebia?

The exercise price for the stock options is set at $2.87 per share.

When were the options granted to Akebia's new employees?

The stock options were granted on October 29, 2021.

What is the vesting schedule for the stock options granted by Akebia?

The options vest over four years, with 25% vesting on the first anniversary and the rest quarterly thereafter.