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

Rhea-AI Summary

On December 2, 2022, Akebia Therapeutics (Nasdaq: AKBA) announced the granting of stock options to a newly-hired employee, totaling 3,000 shares. These options have an exercise price of $0.27 per share, matching the closing stock price on the grant date of November 30, 2022. The options vest over four years, with 25% vesting after one year, while the remaining 75% vest quarterly, contingent on the employee's continued service. This action complies with Nasdaq Listing Rule 5635(c)(4), indicating Akebia’s commitment to attract talent.

Positive

• Inducement grant of 3,000 stock options shows proactive talent acquisition.
• Exercise price set at $0.27 aligns with market value, indicating fair compensation.

Negative

• None.

CAMBRIDGE, Mass., Dec. 2, 2022 /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 3,000 shares of Akebia's common stock on November 30, 2022, as an inducement 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 $0.27 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

What was the recent stock option grant by Akebia Therapeutics?

Akebia Therapeutics granted stock options for 3,000 shares to a new employee on November 30, 2022.

What is the exercise price of the stock options granted by Akebia?

The exercise price of the stock options is $0.27 per share.

When do the stock options granted by Akebia vest?

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

Is the stock option grant by Akebia in compliance with Nasdaq rules?

Yes, the stock option grant complies with Nasdaq Listing Rule 5635(c)(4).