Akebia Therapeutics (AKBA) grants SVP 204K RSUs and 320K stock options

Rhea-AI Filing Summary

Akebia Therapeutics disclosed that SVP and Chief Medical Officer Steven K. Burke received new equity awards on January 30, 2026. He was granted 204,000 restricted stock units of common stock at no cost and 320,000 stock options with a $1.41 exercise price.

The 204,000 restricted stock units vest in three equal installments on the first, second, and third anniversaries of the grant date, conditioned on continued service. The 320,000 options vest over four years, with 25% after one year and the remaining 75% in equal quarterly installments. Following the grant, Burke directly beneficially owns 1,016,090 shares of common stock, including 3,000 shares acquired through the company’s employee stock purchase plan.

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

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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^*

Burke Steven Keith

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Medical Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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	01/30/2026		A		204,000(1)	A	$0.00	1,016,090(2)	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
Stock Option (Right to buy)	$1.41	01/30/2026		A		320,000		(3)	01/30/2036	Common Stock	320,000	$0.00	320,000	D

Explanation of Responses:

1. The restricted stock units were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. One third of the restricted stock units will vest on each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued service with the Issuer on each vesting date.

2. Includes 1,500 shares of the Issuer's common stock purchased on June 30, 2025 and 1,500 shares of the Issuer's common stock purchased on December 31, 2025, each under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan.

3. The options were granted by the Issuer pursuant to its 2023 Stock Incentive Plan, as amended. The options will vest over four years: 25% of the options will vest on the first anniversary of the grant date 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 Steven K. Burke	02/03/2026
	** 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 Steven K. Burke?

Akebia Therapeutics reported new equity awards for SVP and Chief Medical Officer Steven K. Burke. On January 30, 2026, he received 204,000 restricted stock units and 320,000 stock options, both granted as compensation rather than open-market purchases, with multi-year service-based vesting conditions.

How many restricted stock units did Akebia’s SVP receive and how do they vest?

Steven K. Burke received 204,000 restricted stock units of Akebia common stock. One third of these units will vest on each of the first, second, and third anniversaries of the January 30, 2026 grant date, provided he continues serving the company on each applicable vesting date.

What are the terms of the 320,000 Akebia stock options granted to Steven K. Burke?

Burke was granted 320,000 stock options with a $1.41 exercise price. The options vest over four years: 25% on the first anniversary of the January 30, 2026 grant, and the remaining 75% in equal quarterly installments, and expire on January 30, 2036 if unexercised.

How many Akebia shares does Steven K. Burke beneficially own after these grants?

After the reported transactions, Burke beneficially owns 1,016,090 Akebia common shares directly. This total includes 3,000 shares purchased through the company’s Amended and Restated 2014 Employee Stock Purchase Plan in two 1,500-share purchases during 2025.

Are the new Akebia equity awards to Steven K. Burke tied to continued service?

Yes, both the restricted stock units and stock options require continued service. RSUs vest in three annual installments over three years, and options vest over four years with an initial one-year cliff, all contingent on Burke remaining with Akebia on each vesting date.