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

Rhea-AI Summary

Akebia Therapeutics (Nasdaq: AKBA) has granted stock options to three newly-hired employees as employment inducements. The options allow purchase of 20,000 shares of common stock at $1.66 per share, matching the closing price on October 31, 2024. These options vest over four years, with 25% vesting after one year and the remaining 75% vesting quarterly thereafter, contingent on continued employment. The options have a 10-year term and comply with Nasdaq Listing Rule 5635(c)(4).

Positive

• Employee retention strategy through stock options indicating company growth and hiring

Negative

• Potential future dilution of existing shareholders through stock option grants

News Market Reaction

+9.47%

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+9.47% News Effect

On the day this news was published, AKBA gained 9.47%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CAMBRIDGE, Mass., Nov. 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 three newly-hired employees options to purchase an aggregate of 20,000 shares of Akebia's common stock on October 31, 2024. The options were granted as an inducement material to each 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 $1.66 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 were granted in Akebia Therapeutics (AKBA) October 2024 inducement grants?

Akebia Therapeutics granted options to purchase 20,000 shares of common stock to three newly-hired employees.

What is the exercise price for AKBA's October 2024 inducement stock options?

The stock options have an exercise price of $1.66 per share, equal to the closing price on October 31, 2024.

What is the vesting schedule for AKBA's October 2024 inducement grants?

The options vest over four years, with 25% vesting after one year and the remaining 75% vesting quarterly thereafter.