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

Rhea-AI Summary

Akebia Therapeutics, Inc. (Nasdaq: AKBA) granted two new employees options to purchase 31,000 shares of Akebia's common stock on November 30, 2023. The options have an exercise price of $1.06 per share, vest over four years, and have a 10-year term. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., Dec. 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 two newly-hired employees options to purchase an aggregate of 31,000 shares of Akebia's common stock on November 30, 2023, 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 $1.06 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

FAQ

How many shares of Akebia's common stock were granted to new employees on November 30, 2023?

Akebia Therapeutics, Inc. (Nasdaq: AKBA) granted 31,000 shares of its common stock to two newly-hired employees on November 30, 2023.

What is the exercise price of the stock options granted to the new employees?

The exercise price of the stock options granted to the new employees is $1.06 per share, which is equal to the closing price of Akebia's common stock on the grant date.

How long is the vesting period for the stock options granted to the new employees?

The stock options granted to the new employees 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, subject to the new employee's continued service with Akebia.

What is the term of each stock option granted to the new employees?

Each stock option granted to the new employees has a 10-year term.

What is the purpose of Akebia Therapeutics, Inc.?

Akebia Therapeutics, Inc. is a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease.