Michel Dahan - 24 May 2023 Form 4 Insider Report for Akebia Therapeutics, Inc. (AKBA)

Signature
/s/ Carolyn Rucci, attorney-in-fact for Michel Dahan
Issuer symbol
AKBA
Transactions as of
24 May 2023
Net transactions value
-$116,760
Form type
4
Filing time
25 May 2023, 21:01:04 UTC
Previous filing
16 May 2023
Next filing
02 Feb 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AKBA Common Stock Award $0 +200,000 +43% $0.000000 669,515 24 May 2023 Direct F1
transaction AKBA Common Stock Sale $116,760 -95,478 -14% $1.22 574,037 25 May 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AKBA Employee Stock Option (Right to buy) Award $0 +200,000 $0.000000 200,000 24 May 2023 Common Stock 200,000 $0.4100 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously disclosed, in May 2022, the Reporting Person was granted performance-based restricted stock units ("PSUs") pursuant to the Issuer's 2014 Incentive Plan, as amended. The PSUs vest upon the closing of a significant transaction as defined in the award agreement. On May 24, 2023, the Company entered into a License Agreement, which transaction qualified as a significant transaction and closed on May 24, 2023. As a result, all of the PSUs vested on May 24, 2023
F2 This sale was made automatically by the Issuer to cover tax withholding obligations in connection with the vesting and settlement of all of the PSUs.
F3 As previously disclosed, in May 2022, the Reporting Person was granted performance-based options (the "Options") pursuant to the Issuer's 2014 Incentive Plan, as amended. The Options vest upon the closing of a significant transaction as defined in the award agreements. On May 24, 2023, the Company entered into a License Agreement, which transaction qualified as a significant transaction and closed on May 24, 2023. As a result, all of the shares subject to the Option vested on May 24, 2023.