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

Rhea-AI Summary

Akebia Therapeutics (AKBA) has granted stock options to one newly-hired employee as part of their employment inducement package. The grant, issued on December 31, 2024, consists of options to purchase 3,000 shares of Akebia's common stock at an exercise price of $1.90 per share, matching the closing price on the grant date.

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. The options have a 10-year term and are subject to Akebia's inducement award program terms. This grant was made in accordance with Nasdaq Listing Rule 5635(c)(4).

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CAMBRIDGE, Mass., Jan. 2, 2025 /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 3,000 shares of Akebia's common stock on December 31, 2024. The options were granted as an inducement material to the 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 $1.90 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 are the terms of Akebia Therapeutics' (AKBA) December 2024 stock option grant?

The stock option grant includes 3,000 shares at $1.90 per share, vesting over 4 years with 25% vesting after year one and 75% vesting quarterly thereafter, with a 10-year term.

What is the exercise price for AKBA's December 2024 inducement stock options?

The exercise price for the inducement stock options is $1.90 per share, equal to AKBA's closing stock price on December 31, 2024.

How many employees received AKBA stock options in the December 2024 inducement grant?

One newly-hired employee received stock options in the December 2024 inducement grant.

What is the vesting schedule for AKBA's December 2024 inducement stock options?

The options vest over 4 years, with 25% vesting after the first year and the remaining 75% vesting quarterly thereafter, subject to continued employment.