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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to three new employees totaling 14,000 shares on May 31, 2022. The options, which have an exercise price of $0.37 per share, align with Nasdaq Listing Rule 5635(c)(4). The stock options will vest over four years, with 25% vesting after the first year and the remaining 75% vesting quarterly, contingent on continued employment. Akebia, based in Cambridge, Massachusetts, focuses on biopharmaceutical solutions for kidney disease.

Positive

• Granting of stock options may enhance employee retention and motivation.
• Vesting schedule supports long-term commitment from new hires.

Negative

• None.

CAMBRIDGE, Mass., June 2, 2022 /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 14,000 shares of Akebia's common stock on May 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 $0.37 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 stock options were granted by Akebia Therapeutics on May 31, 2022?

On May 31, 2022, Akebia Therapeutics granted stock options totaling 14,000 shares to three new employees.

What is the exercise price for the stock options granted by AKBA?

The exercise price for the stock options is $0.37 per share.

How does the vesting schedule for the new stock options work?

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