Form 4: Akebia Therapeutics SVP, Chief Legal Officer Nicole R. Hadas Reports Sale of Common Stock
SEC Form 4
Nicole R. Hadas, SVP, Chief Legal Officer of Akebia Therapeutics, Inc., reports the sale of 7,411 shares of common stock on February 27, 2024, to cover tax withholding obligations.
Summary
- On February 27, 2024, Nicole R. Hadas, the SVP, Chief Legal Officer of Akebia Therapeutics, Inc., sold 7,411 shares of common stock at a price of $1.52 per share.
- The sale was executed automatically by the issuer to cover tax withholding obligations related to the vesting and settlement of restricted stock units granted on February 26, 2021.
- This transaction was conducted under a Rule 10b5-1 trading plan adopted by Hadas on November 14, 2023.
- Following the reported transaction, Hadas beneficially owns 669,233 shares of Akebia Therapeutics, Inc.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction related to tax obligations and a pre-arranged trading plan.
Industry Context
This is a routine Form 4 filing related to stock transactions by a company insider. Such filings are common and provide transparency into the trading activities of company executives.
Stakeholder Impact
- The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale and the existence of a 10b5-1 trading plan.
Key Dates
| Date | Description |
|---|---|
| 2021-02-26 | Date of grant of restricted stock units. |
| 2023-11-14 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-02-27 | Date of stock sale. |
| 2024-02-29 | Date of signature on the Form 4. |
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