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

Rhea-AI Summary

On August 2, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the grant of stock options to six new employees totaling 26,000 shares. The options were granted as inducements for employment, in line with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $0.39 per share, equal to the stock's closing price on the grant date. The options will vest over four years, with an initial 25% vesting on the first anniversary and the remainder vesting quarterly, subject to continued service. Each option has a 10-year term.

Positive

• Grant of stock options to six new employees indicates growth and expansion within the company.
• Options have a vesting schedule that may encourage employee retention and performance.

Negative

• None.

CAMBRIDGE, Mass., Aug. 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 six newly-hired employees options to purchase an aggregate of 26,000 shares of Akebia's common stock on July 29, 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 $0.39 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 did Akebia Therapeutics grant on August 2, 2022?

Akebia Therapeutics granted 26,000 stock options to six new employees with an exercise price of $0.39 per share.

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

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

What is the significance of Nasdaq Listing Rule 5635(c)(4) in Akebia's stock option grant?

This rule allows companies to grant stock options as inducements for hiring new employees.

How long is the term for the stock options granted by Akebia Therapeutics?

Each stock option has a term of 10 years.