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

Rhea-AI Summary

Akebia Therapeutics, Inc. granted a newly-hired employee options to purchase 4,000 shares of common stock at $1.58 per share. The options vest over four years, with 25% vesting on the first anniversary and the remaining 75% quarterly. This move aligns with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., March 1, 2024 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted one newly-hired employee options to purchase an aggregate of 4,000 shares of Akebia's common stock on February 29, 2024, as an inducement material to 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 $1.58 per share, which is equal to the closing price of Akebia's common stock on the grant date. The stock options vest 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, Inc.

FAQ

What did Akebia Therapeutics grant to a newly-hired employee?

Akebia Therapeutics granted options to purchase 4,000 shares of common stock.

At what price were the stock options granted?

The stock options were granted at an exercise price of $1.58 per share.

How do the stock options vest?

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

What is the term of each stock option?

Each stock option has a 10-year term.

What rule does the grant align with?

The grant aligns with Nasdaq Listing Rule 5635(c)(4).