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

Rhea-AI Summary

Akebia Therapeutics, Inc. granted 10 newly-hired employees options to purchase 41,000 shares of common stock as inducements under Nasdaq Listing Rule 5635(c)(4). The exercise price is $1.26 per share, with options vesting over four years. Each option has a 10-year term and is subject to company conditions.

CAMBRIDGE, Mass., May 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 10 newly-hired employees options to purchase an aggregate of 41,000 shares of Akebia's common stock on April 30, 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 $1.26 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 Akebia's common stock were granted to newly-hired employees?

Akebia granted 10 employees options to purchase an aggregate of 41,000 shares.

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

The exercise price is $1.26 per share, equal to the closing price on the grant date.

How long is the vesting period for the stock options?

The stock options vest over four years, with 25% vesting on the first anniversary and the remaining 75% quarterly.

What is the term for each stock option?

Each stock option has a 10-year term.

What conditions apply to the stock options?

The options are subject to Akebia's inducement award program and a stock option agreement.