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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) has granted stock options to two newly-hired employees as part of their employment inducement package. The grants, issued on February 28, 2025, total 13,525 shares of common stock with an exercise price of $1.85 per share, matching the closing price on the grant date.

The options are structured with a four-year vesting schedule, where 25% of shares vest after the first year, followed by quarterly vesting of the remaining 75%. These 10-year term options were granted under Nasdaq Listing Rule 5635(c)(4) and are subject to Akebia's inducement award program terms and conditions.

CAMBRIDGE, Mass., March 04, 2025 (GLOBE NEWSWIRE) -- 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 13,525 shares of Akebia’s common stock on February 28, 2025. The options were granted as an inducement material to each 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 $1.85 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

FAQ

What are the terms of AKBA's new employee stock options granted on February 28, 2025?

The options have a $1.85 per share exercise price, vest over 4 years (25% first year, 75% quarterly thereafter), and have a 10-year term.

How many shares were granted in AKBA's February 2025 employee inducement grants?

Akebia granted options to purchase 13,525 shares of common stock to two new employees.

What is the vesting schedule for AKBA's February 2025 inducement stock options?

25% of shares vest after the first year, with the remaining 75% vesting quarterly over the following three years.

Under which Nasdaq rule were AKBA's February 2025 inducement grants issued?

The options were granted under Nasdaq Listing Rule 5635(c)(4).