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

Rhea-AI Summary

On February 26, 2021, Akebia Therapeutics (Nasdaq: AKBA) granted stock options to five new employees totaling 44,000 shares as part of their employment incentives. The options were priced at $3.46 per share, matching the closing stock price on the grant date. These options will vest over four years, with 25% becoming available on the first anniversary and the remainder vesting quarterly, contingent upon continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and reflects Akebia's commitment to attracting talent in the biopharmaceutical sector.

Positive

• Granted 44,000 stock options to new employees to attract talent.
• Options priced at $3.46 per share align with current market value.
• Vesting schedule incentivizes employee retention over four years.

Negative

• None.

CAMBRIDGE, Mass., March 2, 2021 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted five newly-hired employees options to purchase an aggregate of 44,000 shares of Akebia's common stock on February 26, 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 $3.46 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 stock options did Akebia Therapeutics grant on February 26, 2021?

Akebia Therapeutics granted stock options totaling 44,000 shares priced at $3.46 each to five new employees.

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

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

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

These options serve as employment incentives to attract and retain talent within the company.

Under which rule did Akebia grant these stock options?

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