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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) granted stock options to 17 newly-hired employees on September 30, 2021. The options, totaling 180,000 shares, have an exercise price of $2.88 per share, equal to the stock's closing price on that date. Each option vests over four years, beginning with 25% on the first anniversary of the grant, and is subject to continued employment. This grant complies with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize new talent in the biopharmaceutical sector focused on kidney disease.

Positive

• Inducement grants may enhance employee retention and motivation.
• Compliance with Nasdaq Listing Rule strengthens investor confidence.

Negative

• Stock options at a low exercise price could dilute share value.

CAMBRIDGE, Mass., Oct. 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 17 newly-hired employees options to purchase an aggregate of 180,000 shares of Akebia's common stock on September 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 $2.88 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 did Akebia Therapeutics announce on October 1, 2021?

Akebia announced the grant of stock options to 17 new employees as part of their inducement program.

How many shares were granted to the new employees by Akebia?

Akebia granted a total of 180,000 shares.

What is the exercise price for the newly granted stock options?

The exercise price is $2.88 per share.

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

The stock options vest over four years, with 25% vesting after one year and the remaining 75% vesting quarterly.

Under which rule did Akebia grant these stock options?

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).