Akebia Therapeutics (AKBA) CFO sells 56K shares in tax sell-to-cover

Rhea-AI Filing Summary

Akebia Therapeutics, Inc. SVP, CFO, CBO & Treasurer Erik Ostrowski reported an open-market sale of 56,019 shares of common stock at $1.11 per share on June 29, 2026. According to the footnote, this was an automatic “sell to cover” transaction to satisfy tax withholding on vesting restricted stock units granted on June 28, 2024, executed under durable instructions adopted on September 8, 2025. After the sale, he directly holds 616,616 shares of Akebia common stock.

Insider Trade Summary 10b5-1

Net Seller: 56,019 shares ($62,181)

Net Sell 1 txn

Insider Ostrowski Erik

Role SVP, CFO, CBO & Treasurer

Sold 56,019 shs ($62K)

Type	Security	Shares	Price	Value
Sale	Common Stock	56,019	$1.11	$62K

Holdings After Transaction: Common Stock — 616,616 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares sold: 56,019 shares Sale price: $1.11 per share Shares after transaction: 616,616 shares +1 more

4 metrics

Shares sold 56,019 shares Open-market sale on June 29, 2026

Sale price $1.11 per share Price for the 56,019 shares sold

Shares after transaction 616,616 shares Direct holdings following the sale

Net shares sold 56,019 shares Net-sell direction per transaction summary

Key Terms

sell to cover, restricted stock units, durable automatic sell-to-cover instructions, open-market sale

4 terms

sell to cover financial

"This sale represents an automatic "sell to cover" transaction to cover tax withholding obligations"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

restricted stock units financial

"in connection with the vesting of restricted stock units granted on June 28, 2024"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

durable automatic sell-to-cover instructions financial

"The sale was effected pursuant to durable automatic sell-to-cover instructions adopted by the reporting person"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 04:35 PM Accepted by SEC EDGAR 07/01/2026 - 04:34 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).

X

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^*

Ostrowski Erik

(Last) (First) (Middle)

C/O AKEBIA THERAPEUTICS, INC

245 FIRST ST.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CFO, CBO & Treasurer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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	06/29/2026		S		56,019(1)	D	$1.11	616,616	D

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. This sale represents an automatic "sell to cover" transaction to cover tax withholding obligations in connection with the vesting of restricted stock units granted on June 28, 2024. The sale was effected pursuant to durable automatic sell-to-cover instructions adopted by the reporting person on September 8, 2025.

Remarks:

	/s/ Carolyn M. Rucci, attorney-in-fact for Erik Ostrowski	07/01/2026
	** 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)

FAQ

What insider transaction did Akebia Therapeutics (AKBA) report for Erik Ostrowski?

Akebia reported that Erik Ostrowski sold 56,019 shares of common stock at $1.11 per share. The shares were sold in an automatic “sell to cover” transaction tied to restricted stock unit vesting.

Why did Akebia’s CFO sell 56,019 AKBA shares in this Form 4?

The sale was to cover tax withholding obligations from vesting restricted stock units granted on June 28, 2024. It was executed under durable automatic sell-to-cover instructions previously adopted by the reporting person.

Was the Akebia (AKBA) insider sale by the CFO discretionary?

The filing describes the transaction as an automatic “sell to cover” sale. It followed durable automatic sell-to-cover instructions adopted on September 8, 2025, indicating it was pre-arranged rather than a discretionary market-timing decision.

How many Akebia shares does Erik Ostrowski hold after this Form 4 sale?

After selling 56,019 shares, Erik Ostrowski directly owns 616,616 shares of Akebia common stock. This figure reflects his remaining direct position following the reported tax-related, automatic sell-to-cover transaction.

What price did Akebia’s CFO receive per share in the reported sale?

The reported transaction price was $1.11 per share for 56,019 shares of Akebia common stock. This sale was categorized as an open-market transaction used to satisfy tax withholding on vested restricted stock units.