Form 4: Akebia Therapeutics CEO John P. Butler Sells Shares to Cover Tax Obligations

Akebia Therapeutics CEO John P. Butler sold 37,733 shares of common stock on February 27, 2024, to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On February 27, 2024, John P. Butler, CEO and President of Akebia Therapeutics, Inc., sold 37,733 shares of common stock at a price of $1.52 per share.
• The sale was executed automatically by Akebia Therapeutics to cover tax withholding obligations associated with the vesting and settlement of one-third of Mr. Butler's restricted stock units granted on February 26, 2021.
• Following the transaction, Mr. Butler directly owns 2,091,150 shares of Akebia Therapeutics common stock.
• Mr. Butler also indirectly owns shares through John Butler GRAT November 2019 (100,000 shares), John Butler 2019 GRAT (59,928 shares), Dorothy Butler GRAT November 2019 (100,000 shares), and Dorothy Butler 2019 GRAT (59,928 shares).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and doesn't reflect a change in the executive's outlook on the company.

Industry Context

Sales of shares to cover tax obligations after vesting of restricted stock units are a common practice among company executives. This transaction is a routine event and doesn't necessarily indicate a change in the executive's confidence in the company.

Key Dates