John P. Butler, CEO and President of Akebia Therapeutics, Inc. (NASDAQ: AKBA), filed a Form 4 on August 10, 2026, reporting the exercise of 350,000 stock options on August 6, 2026.

Key Highlights

  • Transaction date: August 6, 2026, with 350,000 stock options exercised at a conversion price of $0.63 per share.
  • Transaction code M: The exercise converted 350,000 options into 350,000 shares of common stock acquired at $0.63.
  • Direct ownership following transaction: Butler directly holds 3,718,564 shares of common stock, according to the filing.
  • Indirect ownership: An additional 159,928 shares are held indirectly through the Dorothy Butler Revocable Trust November 20, 2007.
  • Remaining derivative securities: Butler holds 525,000 stock options directly following the reported transaction.
  • Option grant details: The exercised options were originally granted on January 31, 2023, with an expiration date of January 31, 2033.

Details of Butler's Option Exercise and Beneficial Ownership at Akebia Therapeutics

According to the filing, Butler exercised 350,000 stock options on August 6, 2026, at an exercise price of $0.63 per share. The transaction is coded "M," indicating an exercise or conversion of derivative securities. The filing notes that the price of the derivative security upon exercise was $0.00, and the underlying securities are shares of Akebia Therapeutics common stock.

The filing discloses that the exercised options were granted on January 31, 2023, and vest over four years: 25% vested on January 31, 2024, with the remaining 75% vesting in equal quarterly installments thereafter, subject to Butler's continued service with the issuer on each vesting date. The options carry an expiration date of January 31, 2033. Following the exercise, Butler retains 525,000 stock options directly.

The filing also notes that Butler's directly held share count of 3,718,564 includes 1,500 shares of Akebia Therapeutics common stock purchased on June 30, 2026, under the issuer's Amended and Restated 2014 Employee Stock Purchase Plan. In addition to his direct holdings, Butler holds 159,928 shares indirectly through the Dorothy Butler Revocable Trust November 20, 2007. The Form 4 was signed by Carolyn M. Rucci as attorney-in-fact for John P. Butler and filed on August 10, 2026.

What Was Disclosed

The filing reports that Akebia Therapeutics CEO John P. Butler exercised 350,000 stock options at $0.63 per share on August 6, 2026, resulting in direct beneficial ownership of 3,718,564 shares and 525,000 remaining options, with 159,928 additional shares held indirectly.