Butler John P. 4

What Happened John P. Butler, CEO, President and a director of Akebia Therapeutics (AKBA), reported multiple transactions on Feb 2, 2026. He disposed of a total of 341,305 shares in open-market or issuer sales at $1.39 per share for aggregate proceeds of $474,413. At the same time he acquired 175,250 shares at $1.41 per share (value $247,103) on settlement of vested performance-based awards. Net effect: Butler sold 166,055 more shares than he acquired, producing net cash proceeds of $227,310.

Key Details

• Transaction date: February 2, 2026; Form filed Feb 4, 2026 (timely).
• Sales: 46,660; 96,065; 114,891; and 83,689 shares — all at $1.39 per share — total sold = 341,305 shares for $474,413.
• Acquisition: 175,250 shares at $1.41 per share = $247,103 (settlement of performance stock units).
• Net: Sold 166,055 more shares than acquired; net cash received ≈ $227,310.
• Footnotes / reasons:
  • Several sales were automatic issuer “sell-to-cover” transactions to satisfy tax-withholding on vested restricted stock units (RSUs) and performance stock units (PSUs).
  • One sale was executed under a Rule 10b5-1 trading plan.
  • The acquired shares reflect PSUs that vested after the company certified a stock-price performance condition.
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context

• The acquisition was settlement of vested performance-based restricted stock units (PSUs) after a performance hurdle was certified; some of the newly vested shares were sold automatically to cover taxes. Sales executed under a 10b5-1 plan or for tax withholding are generally routine and don’t necessarily indicate a change in an insider’s view of the company.