Akebia CEO exercises options for 350,000 shares

Akebia Therapeutics, Inc. CEO and President John P. Butler reported exercising stock options for 350,000 shares of common stock on August 6, 2026 at an exercise price of $0.63 per share.

Rhea-AI Filing Summary

Akebia Therapeutics, Inc. CEO and President John P. Butler reported exercising stock options for 350,000 shares of common stock on August 6, 2026 at an exercise price of $0.63 per share. The derivative option position was reduced by 350,000 shares, leaving 525,000 options outstanding after the transaction. Following the exercise, Butler directly held 3,718,564 shares of common stock and indirectly held 159,928 shares through the Dorothy Butler Revocable Trust. The options were granted on January 31, 2023 and vest over four years, with 25% vested on January 31, 2024 and the remaining 75% vesting in equal quarterly installments thereafter.

Insider Trade Summary

350,000 shares exercised/converted

Exercise 3 txns

Insider Butler John P.

Role CEO and President

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to buy) F2	350,000	$0.00	$0.00
Exercise	Common Stock F1	350,000	$0.63	$221K
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to buy) — 525,000 contracts (Direct); Common Stock — 3,718,564 shares (Direct); Common Stock — 159,928 shares (Indirect, Held by Dorothy Butler Revocable Trust November 20, 2007)

Footnotes (2)

1. F1. Includes 1,500 shares of the Issuer's common stock purchased on June 30, 2026 under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan.
2. F2. The options were granted by the Issuer on January 31, 2023 and vest over four years: 25% of the options vested on January 31, 2024 with the remaining 75% vesting in equal quarterly installments thereafter, subject to the reporting person's continued service with the Issuer on each vesting date.

Key Figures

Options Exercised: 350,000 shares Exercise Price: $0.63 per share Direct Holdings After: 3,718,564 shares +3 more

6 metrics

Options Exercised 350,000 shares Stock options exercised into common stock on August 6, 2026

Exercise Price $0.63 per share Exercise price for 350,000 stock options

Direct Holdings After 3,718,564 shares Common stock directly held by John P. Butler after exercise

Remaining Options 525,000 shares Stock options remaining after exercising 350,000 options

Indirect Holdings 159,928 shares Common stock held through Dorothy Butler Revocable Trust

Option Expiration 2033-01-31 Expiration date of the stock options exercised

Key Terms

Stock Option (Right to buy), Exercise or conversion of derivative security, Amended and Restated 2014 Employee Stock Purchase Plan, Revocable Trust

4 terms

Stock Option (Right to buy) financial

"security_title: Stock Option (Right to buy)"

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

Amended and Restated 2014 Employee Stock Purchase Plan financial

"purchased on June 30, 2026 under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan"

Revocable Trust financial

"Held by Dorothy Butler Revocable Trust November 20, 2007"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Akebia Therapeutics (AKBA) CEO John P. Butler report in this Form 4?

John P. Butler reported exercising stock options for 350,000 shares of Akebia Therapeutics common stock at $0.63 per share on August 6, 2026, increasing his directly held common stock position.

How many Akebia Therapeutics (AKBA) shares does John P. Butler hold after the reported transactions?

After the transactions, John P. Butler directly holds 3,718,564 shares of Akebia Therapeutics common stock and indirectly holds 159,928 shares through the Dorothy Butler Revocable Trust, as disclosed in the Form 4.

What stock options did the Akebia Therapeutics (AKBA) CEO exercise and at what price?

Butler exercised 350,000 stock options, each giving the right to buy Akebia Therapeutics common stock at an exercise price of $0.63 per share. These options were originally granted on January 31, 2023.

How many Akebia Therapeutics (AKBA) options remain after John P. Butler’s exercise?

After exercising 350,000 options, Butler has 525,000 stock options remaining. These options were granted on January 31, 2023 and continue to vest in equal quarterly installments over four years.

What is the vesting schedule of the Akebia Therapeutics (AKBA) options exercised by the CEO?

The options were granted on January 31, 2023. 25% vested on January 31, 2024, and the remaining 75% vest in equal quarterly installments, contingent on Butler’s continued service with Akebia Therapeutics.

How are some Akebia Therapeutics (AKBA) shares held indirectly for John P. Butler?

The Form 4 shows 159,928 shares of Akebia Therapeutics common stock held indirectly through the Dorothy Butler Revocable Trust November 20, 2007, indicating beneficial ownership via this trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/10/2026 - 04:10 PM Accepted by SEC EDGAR 08/10/2026 - 04:08 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Butler John P.

(Last) (First) (Middle)

C/O AKEBIA THERAPEUTICS, INC.

245 FIRST STREET

(Street)

CAMBRIDGE MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Akebia Therapeutics, Inc. [ AKBA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/06/2026		M		350,000	A	$0.63	3,718,564(1)	D
Common Stock								159,928	I	Held by Dorothy Butler Revocable Trust November 20, 2007

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to buy)	$0.63	08/06/2026		M			350,000	(2)	01/31/2033	Common Stock	350,000	$0.00	525,000	D

Explanation of Responses:

1. Includes 1,500 shares of the Issuer's common stock purchased on June 30, 2026 under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan.

2. The options were granted by the Issuer on January 31, 2023 and vest over four years: 25% of the options vested on January 31, 2024 with the remaining 75% vesting in equal quarterly installments thereafter, subject to the reporting person's continued service with the Issuer on each vesting date.

Remarks:

	/s/ Carolyn M. Rucci, attorney-in-fact for John P. Butler	08/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)