Akebia Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct 2, 2018--Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company focused on delivering innovative therapies to patients with kidney disease through the biology of hypoxia-inducible factor (HIF), granted six newly-hired employees options to purchase an aggregate of 32,750 shares of Akebia’s common stock on September 28, 2018, as inducements material to each such employee’s 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 $8.83 per share, which is equal to the closing price of Akebia’s common stock on the grant date. Each stock option vests 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 the company. Each stock option has a 10-year term and is subject to the terms and conditions of the company’s Inducement Award Program and a stock option agreement covering the grant.
About Akebia Therapeutics
Akebia Therapeutics, Inc. is a biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on delivering innovative therapies to patients with kidney disease through hypoxia-inducible factor biology. For more information, please visit our website at www.akebia.com, which does not form a part of this release.
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CONTACT: Akebia Therapeutics
John Garabo, 617-844-6130
Director, Corporate Communications
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY PHARMACEUTICAL PROFESSIONAL SERVICES FINANCE
SOURCE: Akebia Therapeutics, Inc.
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PUB: 10/02/2018 04:05 PM/DISC: 10/02/2018 04:05 PM