Akebia Therapeutics, Inc. (AKBA) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. This meeting is now called to order. I want to welcome all of you to the 2021 Annual Meeting of Stockholders of Akebia Therapeutics. I am Adrian Adams, Chairperson of the Board of Directors of Akebia Therapeutics, and I will be presiding at this meeting. We've again decided to hold the meeting virtually, allowing us to protect the health and safety of all participants. I would also like to take this opportunity to introduce the other members of Akebia's Board of Directors and the company's executive leadership team. The other directors present by telephone today are Steven Gilman, Maxine Gowen, Michael Heffernan, Michael Rogers, Cynthia Smith, Myles Wolf and LeAnne Zumwalt. John Butler, who is Director and Akebia's President and Chief Executive Officer, is also present virtually. Also present virtually today are the following members of Akebia's executive leadership team; David Spellman, Senior Vice President, Chief Financial Officer and Treasurer; Steven Burke, Senior Vice President, Research and Development, and Chief Medical Officer; Michel Dahan, Senior Vice President, Chief Operating Officer; Tamara Dillon, Senior Vice President of Human Resources and Chief People Officer; and Dell Faulkingham, Senior Vice President, Chief Financial Officer. Nicole Hadas, Senior Vice President, Chief Legal Officer and Secretary, who will act as secretary of this meeting, is also present virtually. I would also like to introduce Maria Franklin, Principal Equity Specialist, who has been appointed to act as the inspector of election. Kim Reinert, a partner from Ernst & Young LLP, the company's independent registered public accounting firm, is also present at the meeting. During any question-and-answer period at the end of the meeting, she will be available to answer questions concerning the company's financial statements. Each of you should have registered when you logged into the virtual meeting site. You should see the agenda and the rules of procedure for the meeting. To conduct an orderly meeting, we would ask that participants abide by these rules, please. [Operator Instructions] As stated in the rules of procedure, we ask that you restrict your question or comment to matters properly before the meeting. Thank you for your cooperation with these rules. The secretary has delivered an affidavit of mailing establishing that notice of this meeting was duly given. A copy of the notice of the meeting and the affidavit of mailing will be incorporated into the minutes of this meeting. All stockholders of record as of 5:00 p.m. Eastern Time on April 12, 2021, are entitled to vote at this meeting. Our first order of business at this meeting is to determine whether the shares represented at the meeting, either in person or by proxy are sufficient to constitute a quorum for the purpose of transacting business. Mrs. Hadas, do you have a report?

Yes. The stockholder list shows that holders of 159,907,713 shares of common stock of the company are entitled to vote at this meeting. We are informed by the inspector of election that there are represented in person or by proxy, 112,877,167 shares of common stock, or approximately 70.58% of all of the shares entitled to vote at this meeting.

Thank you. Because holders of the majority of the shares entitled to vote at this meeting are present in person or by proxy, I declare the meeting to be duly convened for purposes of transacting such business as may properly come before it. The next order of business is a description of the matters to be voted on at today's meeting. The first proposal before the stockholders of the company is the election of 2 Class I Directors to serve until the 2024 Annual Meeting of Stockholders and until their successors are duly elected and qualified, subject to their earlier death, resignation or removal. The Class I Director nominees are Steven C. Gilman and Cynthia Smith. The second proposal before the stockholders of the company is the say on pay proposal, which is the approval on an advisory nonbinding basis of the compensation of our named executive officers as disclosed in our proxy statement in accordance with the SEC rules. The third proposed before the stockholders of the company is the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the current fiscal year. The polls are now open. If you desire to vote at this time, please do so electronically with your 16 digit control number from your proxy card. If you previously voted by proxy, you do not need to vote today unless you wish to change your vote. [Voting]

I hereby declare the polls closed. Will the secretary please report the preliminary results of the voting?