Ostrowski Erik 4

What Happened
Erik Ostrowski, Akebia Therapeutics' SVP & CFO (also CBO & Treasurer), sold 56,019 shares on 2026-06-29 at $1.11 per share for proceeds of $62,181. The transaction is a sale (not a new investment) and was executed as a sell-to-cover to satisfy tax withholding on vested restricted stock units.

Key Details

• Transaction date and price: 2026-06-29, 56,019 shares at $1.11 each (total ~$62,181).
• Method/code: Reported as an open market/private sale (code S); underlying reason relates to tax withholding (see footnote).
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: The sale was an automatic "sell to cover" to cover tax withholding for RSUs granted 2024-06-28; sell-to-cover instructions were adopted by the reporting person on 2025-09-08.
• Filing: Form 4 filed 2026-07-01 — appears to be filed within the typical two-business-day window for Form 4s.

Context
Sell-to-cover transactions are routine tax-related sales when restricted stock units vest; they do not necessarily indicate management sentiment about the company's outlook. For retail investors, purchases or large, discretionary sales by insiders tend to carry more informational weight than routine tax-withholding disposals.