Akebia (NASDAQ: AKBA) CEO boosts stake with 69,270-share open-market buy

Rhea-AI Filing Summary

Akebia Therapeutics CEO and President John P. Butler reported an open‑market purchase of 69,270 shares of common stock on March 4, 2026 at an average price of $1.25 per share, with individual trades between $1.23 and $1.28. Following this transaction, his directly held stake rose to 3,367,064 shares of common stock. The filing also notes 159,928 shares held indirectly through the Dorothy Butler Revocable Trust November 20, 2007. A footnote explains that this purchase was matchable under Section 16(b) against a prior sale of 341,305 shares at $1.39 on February 2, 2026, and Butler paid $9,664.60 to Akebia, representing the full short‑swing profit.

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

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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 MA 02142

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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

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

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

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	03/04/2026		P		69,270(1)	A	$1.25(2)	3,367,064	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

Explanation of Responses:

1. The reporting person's purchase of Akebia Therapeutics, Inc. ("Akebia") common stock reported herein was matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 69,270 shares, with the reporting person's sale of 341,305 shares of Akebia common stock at a price of $1.39 per share on February 2, 2026 pursuant to an automatic sell-to-cover instruction solely to cover applicable withholding taxes in connection with the vesting of the reporting person's RSUs granted on January 31, 2023, 2024 and 2025. The reporting person has paid Akebia, upon settlement of the sale, $9,664.60 representing the full amount of the profit realized in connection with the short-swing transaction.

2. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.23 to $1.28, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote of this Form 4.

Remarks:

	/s/ Carolyn M. Rucci, attorney-in-fact for John P. Butler	03/05/2026
	** 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).
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FAQ

What insider transaction did Akebia Therapeutics (AKBA) report for CEO John P. Butler?

Akebia Therapeutics reported that CEO John P. Butler bought 69,270 shares of common stock. The open‑market purchase occurred on March 4, 2026 at an average price of $1.25 per share, increasing his directly held stake to 3,367,064 shares.

At what price did Akebia CEO John P. Butler buy AKBA shares on March 4, 2026?

John P. Butler bought Akebia shares at an average price of $1.25 per share. A footnote states the purchases were executed in multiple trades, with prices ranging from $1.23 to $1.28 per share, all reported as part of a single Form 4 transaction.

How many Akebia Therapeutics shares does John P. Butler own after the reported Form 4 transaction?

After the March 4, 2026 purchase, John P. Butler directly owns 3,367,064 Akebia shares. The filing also reports an additional 159,928 shares held indirectly through the Dorothy Butler Revocable Trust dated November 20, 2007, reflecting associated holdings outside his direct account.

What Section 16(b) short-swing profit did John P. Butler repay to Akebia Therapeutics?

John P. Butler repaid $9,664.60 in short-swing profit to Akebia. The filing explains his March 4, 2026 purchase of 69,270 shares was matchable with a February 2, 2026 sale of 341,305 shares at $1.39, and he reimbursed the company the full calculated profit amount.

What prior Akebia share sale is referenced in John P. Butler’s Form 4 footnote?

The footnote references a February 2, 2026 sale of 341,305 Akebia shares at $1.39 per share. This sale was executed under an automatic sell-to-cover instruction to pay withholding taxes tied to RSU vesting from grants dated January 31, 2023, 2024 and 2025.

How are the indirectly held Akebia Therapeutics shares reported for John P. Butler?

The Form 4 lists 159,928 Akebia shares held indirectly through the Dorothy Butler Revocable Trust. These shares are coded as indirect ownership with the nature of ownership described explicitly, distinguishing them from Butler’s directly held 3,367,064 common shares after the reported purchase.