Butler John P. 4

What Happened
John P. Butler — CEO, President and Director of Akebia Therapeutics (AKBA) — received equity awards on January 30, 2026. The Form 4 reports a grant of 743,000 restricted stock units (RSUs) and 1,115,000 derivative awards (stock option-style awards), both reported at $0.00, for a total of 1,858,000 awarded shares. These are compensation/award grants, not open-market purchases or sales.

Key Details

• Transaction date: 2026-01-30. Form 4 filed: 2026-02-03 (filed timely).
• Award amounts and reported price:
  • 743,000 restricted stock units (RSUs) — $0.00 reported.
  • 1,115,000 derivative awards (options-style) — $0.00 reported.
• Vesting:
  • RSUs (F1): vest one‑third on each of the first three anniversaries of the grant, subject to continued service.
  • Options-style awards (F3): vest over four years — 25% on first anniversary, remaining 75% in equal quarterly installments, subject to continued service.
• Shares owned after transaction: not explicitly stated in the provided filing. Footnote F2 shows at least 162,928 existing shares held previously (159,928 in a 2019 GRAT + 1,500 + 1,500 from ESPP purchases).
• Footnotes of note:
  • F1: RSUs granted under 2023 Stock Incentive Plan with 3-year vesting (1/3 each year).
  • F3: Option awards under 2023 Plan with standard 4-year vesting schedule.
  • F2: breakdown of previously held shares included in prior holdings.
• Timeliness: Filing appears timely (filed within required business-day window).

Context
These awards are standard executive compensation/retention grants and do not represent a cash purchase or sale. RSUs convert to shares only as they vest; options-style awards require vesting (and typically exercise) before resulting in actual shares. Because vesting schedules apply, these grants do not reflect immediate liquidity or a near-term sale by the insider, though they can lead to future dilution if vested shares are issued or options exercised.