John P. Butler - 31 Jan 2025 Form 4 Insider Report for Akebia Therapeutics, Inc. (AKBA)

Role
CEO and President, Director
Signature
/s/ Carolyn Rucci, attorney-in-fact for John P. Butler
Issuer symbol
AKBA
Transactions as of
31 Jan 2025
Net transactions value
-$302,925
Form type
4
Filing time
04 Feb 2025, 17:54:18 UTC
Previous filing
01 Mar 2024
Next filing
04 Mar 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AKBA Common Stock Award $0 +701,000 +34% $0.000000 2,748,580 31 Jan 2025 Direct F1, F2
transaction AKBA Common Stock Sale $97,163 -46,268 -1.7% $2.10 2,702,312 03 Feb 2025 Direct F3, F4
transaction AKBA Common Stock Sale $205,762 -97,982 -3.6% $2.10 2,604,330 03 Feb 2025 Direct F3, F5
holding AKBA Common Stock 100,000 31 Jan 2025 Held By John Butler GRAT November 2019
holding AKBA Common Stock 59,928 31 Jan 2025 Held by John Butler 2019 GRAT
holding AKBA Common Stock 100,000 31 Jan 2025 Held By Dorothy Butler GRAT November 2019
holding AKBA Common Stock 59,928 31 Jan 2025 Held by Dorothy Butler 2019 GRAT

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 Performance Stock Units Award $0 +350,500 $0.000000 350,500 31 Jan 2025 Common Stock 350,500 Direct F6
transaction AKBA Stock Option (Right to buy) Award $0 +1,051,400 $0.000000 1,051,400 31 Jan 2025 Common Stock 1,051,400 $2.24 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 The restricted stock units were granted by the Issuer pursuant to its 2023 Stock Incentive Plan. 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.
F2 Includes 1,500 shares of the Issuer's common stock purchased on June 28, 2024 and 1,500 shares of the Issuer's common stock purchased on December 31, 2024, each under the Issuer's Amended and Restated 2014 Employee Stock Purchase Plan.
F3 This sale was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 1, 2023.
F4 This sale was made automatically by the Issuer to cover tax withholding obligations in connection with the vesting and settlement of one-third of the reporting person's restricted stock units granted on January 31, 2023.
F5 This sale was made automatically by the Issuer to cover tax withholding obligations in connection with the vesting and settlement of one-third of the reporting person's restricted stock units granted on January 31, 2024.
F6 Each Performance Stock Unit ("PSU") right represents a contingent right to receive one share of the Issuer's common stock. One-half of the total number of shares of common stock underlying the PSUs shall vest on each of (a) the later of (i) the first anniversary of the grant date and (ii) the date that the Compensation Committee certifies that the average closing price of the Issuer's common stock equals or exceeds $3.50 over a 30-day trading period, and (b) the later of (i) the first anniversary of the grant date and (ii) the date that the Compensation Committee certifies that the average closing price of the Issuer's common stock equals or exceeds $5.00 for over a 30-day trading period, subject to the reporting person's continued service with the Issuer through the applicable vesting date.
F7 The options were granted by the Issuer pursuant to its 2023 Stock Incentive Plan. 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.