X0306 4 2018-12-12 0 0001517022 Akebia Therapeutics, Inc. AKBA 0001618247 Morrison Jodie Pope C/O AKEBIA THERAPEUTICS, INC. 245 FIRST ST. CAMBRIDGE MA 02142 1 0 0 0 Common Stock 2018-12-12 4 A 0 44919 A 44919 D Stock Option (Right to buy) 16.17 2018-12-12 4 A 0 18716 A 2026-06-21 Common Stock 18716 18716 D Stock Option (Right to buy) 17.53 2018-12-12 4 A 0 11229 A 2027-06-09 Common Stock 11229 11229 D Stock Option (Right to buy) 10.05 2018-12-12 4 A 0 11229 A 2028-06-30 Common Stock 11229 11229 D Stock Option (Right to buy) 8.94 2018-12-12 4 A 0 25000 0.00 A 2028-12-12 Common Stock 25000 25000 D Pursuant to the Agreement and Plan of Merger, dated as of June 28, 2018 (as amended, the "Merger Agreement"), each share of common stock of Keryx Biopharmaceuticals, Inc. ("Keryx") owned by the Reporting Person at the effective time of the transactions contemplated by the Merger Agreement (the "Effective Time") was automatically converted into 0.37433 shares of the Issuer's common stock (the "Exchange Multiplier"). The option is fully vested and currently exercisable. Pursuant to the Merger Agreement, each option to purchase Keryx common stock (a "Keryx Option"), whether vested or unvested, that was outstanding immediately prior to the Effective Time, was converted into an option to acquire the number of shares of common stock of the Issuer (an "Issuer Option") equal to the product of (i) the number of shares subject to such Keryx Option as of immediately prior to the Effective Time, multiplied by (ii) the Exchange Multiplier, rounded down to the nearest whole number of shares of the Issuer's common stock, at an exercise price per share equal to the quotient obtained by dividing the per share exercise price of the Keryx Option by the Exchange Multiplier, rounded up to the nearest whole cent. 25% of this option will vest on the first anniversary of the grant date with the remaining 75% vesting in equal quarterly installments thereafter. /s/ Nicole R. Hadas, Attorney-in-fact for Jodie Pope Morrison 2018-12-13