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

Rhea-AI Summary

Akebia Therapeutics, Inc. granted its new Senior Vice President, Chief Financial Officer, and Treasurer, Ellen Snow, options to purchase 560,000 shares of the company's common stock at an exercise price of $1.67 per share. The options vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and the remaining 75% vesting quarterly thereafter, subject to Ms. Snow's continued service with Akebia.

CAMBRIDGE, Mass., Aug. 1, 2023 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted Ellen Snow, Akebia's newly-hired Senior Vice President, Chief Financial Officer and Treasurer, options to purchase 560,000 shares of Akebia's common stock on July 31, 2023. The options were granted as an inducement material to Ms. Snow 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 $1.67 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 Ms. Snow'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 is the purpose of Akebia Therapeutics, Inc. granting stock options to Ellen Snow?

The purpose of granting the stock options to Ellen Snow is as an inducement material to her entering into employment with Akebia.

How many shares of Akebia's common stock did Ellen Snow receive options to purchase?

Ellen Snow received options to purchase 560,000 shares of Akebia's common stock.

What is the exercise price of the stock options granted to Ellen Snow?

The exercise price of the stock options is $1.67 per share, equal to the closing price of Akebia's common stock on the grant date.

How do the stock options vest for Ellen Snow?

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% vesting quarterly thereafter, subject to Ms. Snow's continued service with Akebia.