Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On January 19, 2022, the Board of Directors (the "Board") of Akebia Therapeutics, Inc. (the "Company") approved an amendment and restatement of the Company's Cash Incentive Plan (the "Amended Plan"). The Amended Plan no longer includes provisions that were specific to compliance with the performance-based compensation exception previously available under Section 162(m) of the Internal Revenue Code of 1986, as amended, but that has been repealed, and includes other procedural, conforming and clarifying changes.

The foregoing description of the Amended Plan does not purport to be complete, and is qualified in its entirety by reference to the Amended Plan, a copy of which the Company expects to file with its Annual Report on Form 10-K for the year ended December 31, 2021.

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