A Form 4 is filed within two business days of a company insider — an officer, a director, or a holder of more than ten percent of the stock — changing their position in the shares. All 10 filings in this group are Form 4s for Akebia Therapeutics, Inc.
The difficulty with reading these filings as a group is that a single form type covers transactions that mean entirely different things. An executive spending their own money to buy stock and an executive having shares withheld to pay tax on a vesting grant both appear as a Form 4. Every filing below is therefore tagged with the nature of the underlying transaction, taken from the transaction code reported on the form itself.
Across the 10 insider filings shown, the breakdown is 7 compensation award, 1 option exercise, 1 open-market purchase and 1 open-market sale. 2 of them involved a discretionary open-market trade; the rest are compensation and administrative mechanics.
Form 4
Option exercise
Tax / Compensation Filing
2026-08-10
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
Butler John P. (Director, CEO and President) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
The insider converted options into shares. The exercise price was fixed when the options were granted, so the timing usually tracks an expiry schedule.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
M |
Option exercise
|
350,000 |
$0.63 |
$220.5K |
M |
Option exercise
derivative · Stock Option (Right to buy)
|
350,000 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Butler John P. (Director, CEO and President)
Shares: 350,000
Form 4
Open-market sale
Insider Selling
2026-07-01
AKBA insider Ostrowski Erik (SVP, CFO, CBO & Treasurer) sold 56,019 shares (~$62.2K)
Ostrowski Erik, listed as SVP, CFO, CBO & Treasurer at Akebia Therapeutics, Inc., reported an open-market sale of 56,019 AKBA shares in a Form 4 filing. This is a confirmed insider sale, not just a proposed sale notice.
The insider sold shares on the open market. Sales may be discretionary or executed automatically under a pre-arranged Rule 10b5-1 trading plan, and a Form 4 does not always make clear which applies.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
S |
Open-market sale
|
56,019 |
$1.11 |
$62.2K |
Filing: Form 4 (Insider Transaction)
Insider: Ostrowski Erik (SVP, CFO, CBO & Treasurer)
Shares: 56,019
Est. Value: $62.2K
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
Wolf Myles (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Wolf Myles (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
Smith Cynthia (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Smith Cynthia (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
ROGERS MICHAEL W (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: ROGERS MICHAEL W (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
FRIESON RON (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: FRIESON RON (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
ZUMWALT LEANNE M (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: ZUMWALT LEANNE M (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-06-22
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
ADAMS ADRIAN (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
|
35,700 |
— |
— |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
53,600 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: ADAMS ADRIAN (Director)
Shares: 35,700
Form 4
Compensation award
Tax / Compensation Filing
2026-04-03
AKBA insider Form 4 filed for equity award, exercise, or tax withholding
Vickers Philip J. (Director) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
Shares were granted as compensation rather than purchased. No cash changed hands, so the filing reflects a pay decision by the company, not a judgement about the price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
A |
Compensation award
derivative · Stock Option (Right to buy)
|
214,400 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Vickers Philip J. (Director)
Form 4
Open-market purchase
Insider Buying
2026-03-05
AKBA insider Butler John P. (Director, CEO and President) bought 69,270 shares (~$86.6K)
Butler John P., listed as Director, CEO and President at Akebia Therapeutics, Inc., reported an open-market purchase of 69,270 AKBA shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
69,270 |
$1.25 |
$86.6K |
Filing: Form 4 (Insider Transaction)
Insider: Butler John P. (Director, CEO and President)
Shares: 69,270
Est. Value: $86.6K