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

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Akebia Therapeutics, Inc. granted six new employees options to purchase 110,000 shares of common stock, following Nasdaq rules. The options have an exercise price of $1.83 per share and vest over four years.

CAMBRIDGE, Mass., April 2, 2024 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, granted six newly-hired employees options to purchase an aggregate of 110,000 shares of Akebia's common stock on March 28, 2024, as inducements 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 $1.83 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 is the purpose of Akebia Therapeutics, Inc. (AKBA)?

Akebia Therapeutics, Inc. aims to improve the lives of individuals affected by kidney disease.

How many shares of common stock were granted to the new employees?

The new employees were granted options to purchase an aggregate of 110,000 shares of Akebia's common stock.

What is the exercise price per share for the granted options?

The exercise price per share for the options is $1.83, equivalent to the closing price of Akebia's common stock on the grant date.

How long is the vesting period for the stock options?

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.

What conditions are required for the stock options to vest?

The stock options vest based on the new employee's continued service with Akebia.

What is the term of each stock option granted?

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.