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

Rhea-AI Summary

Akebia Therapeutics (AKBA) has granted stock options to seven newly-hired employees as part of their employment inducement package. The options allow for the purchase of a total of 130,763 shares of Akebia's common stock at an exercise price of $2.24 per share, matching the closing price on January 31, 2025.

The options feature a four-year vesting schedule, with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. Each option has a 10-year term and falls under Akebia's inducement award program, complying with Nasdaq Listing Rule 5635(c)(4).

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CAMBRIDGE, Mass., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Akebia Therapeutics^®, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted seven newly-hired employees options to purchase an aggregate of 130,763 shares of Akebia’s common stock on January 31, 2025. The options were granted as an inducement material to teach 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 $2.24 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

FAQ

How many shares were included in Akebia Therapeutics' (AKBA) January 2025 inducement grants?

Akebia Therapeutics granted options to purchase 130,763 shares of common stock to seven newly-hired employees.

What is the exercise price for AKBA's January 2025 inducement stock options?

The exercise price for the stock options is $2.24 per share, equal to the closing price of Akebia's common stock on January 31, 2025.

What is the vesting schedule for AKBA's January 2025 inducement stock options?

The options vest over four years, with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, subject to continued employment.

How long is the term of AKBA's January 2025 inducement stock options?

Each stock option has a 10-year term from the grant date.