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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) announced on July 1, 2021, that it granted stock options to 25 new employees, totaling 210,000 shares. These options, priced at $3.79 per share, are in accordance with Nasdaq Listing Rule 5635(c)(4). The options vest over four years, with 25% unlocking after the first anniversary and the remainder vesting quarterly, contingent upon the employees' continued service. Akebia is dedicated to improving the lives of individuals affected by kidney disease.

Positive

• Grant of 210,000 stock options could enhance employee retention and motivation.
• Stock options priced at current market value may align employees' interests with company performance.

Negative

• None.

CAMBRIDGE, Mass., July 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 25 newly-hired employees options to purchase an aggregate of 210,000 shares of Akebia's common stock on June 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 $3.79 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

Kristen K. Sheppard, Esq. 
ir@akebia.com 

 

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SOURCE Akebia Therapeutics

FAQ

What was announced by Akebia Therapeutics on July 1, 2021?

Akebia Therapeutics announced the grant of 210,000 stock options to 25 newly-hired employees as inducements for their employment.

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

The exercise price of the stock options is $3.79 per share, equal to the closing price on the grant date.

How do the stock options vest for Akebia employees?

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

What is the duration of the stock options granted by Akebia?

The stock options have a 10-year term from the date of grant.