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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA), a biopharmaceutical company focused on kidney disease, has granted stock options to a newly-hired employee as an inducement for employment. The grant, made on September 30, 2024, includes options to purchase 111,600 shares of Akebia's common stock at an exercise price of $1.32 per share, equal to the closing price on the grant date.

The options are structured with a four-year vesting period, with 25% vesting after one year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. These options have a 10-year term and are subject to Akebia's inducement award program and a stock option agreement. The grant was made in compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Akebia Therapeutics is attracting new talent with stock options as employment incentives
• The company's stock price closed at $1.32 on September 30, 2024

Negative

• Potential shareholder dilution due to the issuance of 111,600 new stock options

CAMBRIDGE, Mass., Oct. 1, 2024 /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 111,600 shares of Akebia's common stock on September 30, 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 $1.32 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

How many shares of stock options did Akebia Therapeutics (AKBA) grant to the new employee?

Akebia Therapeutics granted options to purchase 111,600 shares of common stock to a newly-hired employee on September 30, 2024.

What is the exercise price of the stock options granted by Akebia Therapeutics (AKBA)?

The stock options were granted with an exercise price of $1.32 per share, equal to the closing price of Akebia's common stock on the grant date, September 30, 2024.

What is the vesting schedule for the stock options granted by Akebia Therapeutics (AKBA)?

The stock options vest over four years, with 25% vesting on the first anniversary of the grant date and the remaining 75% vesting quarterly thereafter, subject to the employee's continued service with Akebia.

Under which Nasdaq rule did Akebia Therapeutics (AKBA) grant these inducement options?

The stock options were granted in accordance with Nasdaq Listing Rule 5635(c)(4), which allows for inducement grants to new employees.