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

Rhea-AI Summary

Akebia Therapeutics (AKBA) announced the grant of stock options to 21 newly hired employees on November 30, 2021, totaling 85,000 shares. The exercise price is set at $2.71, equivalent to the closing stock price on the grant date. Each option vests over four years, with 25% vesting on the first anniversary and the remainder quarterly, contingent on continued employment. The grants comply with Nasdaq Listing Rule 5635(c)(4).

Positive

• Granting stock options may enhance employee retention and motivation.
• Compliance with Nasdaq listing rules reinforces corporate governance.

Negative

• None.

CAMBRIDGE, Mass., Dec. 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 21 newly-hired employees options to purchase an aggregate of 85,000 shares of Akebia's common stock on November 30, 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 $2.71 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. 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's recent stock option grants?

The stock option grants aim to incentivize and retain newly hired employees at Akebia Therapeutics.

How many shares were granted in the recent stock option award by Akebia?

Akebia granted a total of 85,000 shares in the recent stock option award.

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

The exercise price for the stock options is set at $2.71 per share.

Under which Nasdaq rule did Akebia grant the stock options?

Akebia granted the stock options in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the vesting schedule for Akebia's stock options?

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