ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~"؈ ~~<"܈ ~~8"܈ ~~4#܈ ~~4"܈ ~~<#܈ ~~3#܈ ~~7#܈ ~~#؈ ~~83ffff̙̙3f3fff3f3f33333f33& Securities Exchange Act of 1934AKEBIA THERAPEUTICS INC+Summary Compensation&n;Nominees for Class II Directors&DCurrent Directors Not Standing =QBoard Committees_DIRECTOR COMPENSATION(kDIRECTOR COMPEN (1)&{Principal Accountant Fees and S:EXECUTIVE OFFICERSSummary Compens (1)>Summary Compens (2) Outstanding Equity AwardsBeneficial Ownership&HOUSEHOLDING OF PROXY MATERIALS&6KEEP THIS PORTION FOR YOUR RECO&+ l  &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } $} $ } a/      !Akebia Therapeutics, Inc.DEF 14A 04/29/2016'Securities Exchange Act of 1934 ? # Preliminary Proxy Statement   ? / 'Confidential, for Use of the Commission  / 'Only (as permitted by Rule 14a-6(e)(2))   ?"Definitive Proxy Statement ?'Definitive Additional Materials ?-%Soliciting Material Under ?240.14a-12$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4Z{ocW3D,y/#=PF0*8X> @ l  BI*"+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Summary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } $} $ } U} $ } : B     !Akebia Therapeutics, Inc.DEF 14A 04/29/2016!AKEBIA THERAPEUTICS, INC.   ?  No fee required.   ? 0 (Fee computed on table below per Exchange  ' Act Rules 14a-6(i)(1) and 0-11.~ 2*Title of each class of securities to whichtransaction applies:~ /'Aggregate number of securities to whichtransaction applies:~ 0(Per unit price or other underlying value4,of transaction computed pursuant to Exchange4,Act Rule 0-11 (set forth the amount on which2*the filing fee is calculated and state howit was determined):~ 80Proposed maximum aggregate value of transaction:D lui]! o,Ps#EuH !"#$%&'()*+,-./0123456789:;<=>?     !!!!!""~ """Total fee paid:#####$$$$$%% &?&7&/Fee paid previously with preliminary materials.'' (?(2(*Check box if any part of the fee is offset))3)+as provided by Exchange Act Rule 0-11(a)(2)**8*0and identify the filing for which the offsetting++6+.fee was paid previously. Identify the previous,,0,(filing by registration statement number,--3-+or the Form or Schedule and the date of its...filing.///00~ 000Amount previously paid:111112222233~ 3303(Form, Schedule or Registration Statement4444 4No.:555556666677~ 777 Filing party:8888899999::~ ::: Date Filed:;;;;;<<<<<=>$?____________________________D l;W?M`5Db&c@A1@)Created by Morningstar Document Research.0A(http://documentresearch.morningstar.com/=PF0*8X> @rAA@@??..--,,++**))((&&    l  '8:  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INC!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } U5} $ } } $ '     !Akebia Therapeutics, Inc.DEF 14A 04/29/2016Summary Compensation   Page / 'PROXY STATEMENT FOR 2016 ANNUAL MEETING  ~   OF STOCKHOLDERS GENERAL INFORMATION  ~   OVERVIEW OF PROPOSALS  ~  ,$PROPOSAL NO. 1?ELECTION OF DIRECTORS~ DIRECTOR BIOGRAPHIES~ CORPORATE GOVERNANCE~ "DIRECTOR COMPENSATION~ 60(PROPOSAL NO. 2?RATIFICATION OF SELECTION~ >3+OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMAUDIT COMMITTEE REPORT~ FEXECUTIVE OFFICERS~ JEXECUTIVE COMPENSATION~ R-%COMPENSATION COMMITTEE INTERLOCKS AND~ jINSIDER PARTICIPATION0(SECURITY OWNERSHIP OF CERTAIN BENEFICIAL~ nOWNERS AND MANAGEMENT/'CERTAIN RELATIONSHIPS AND RELATED PARTY~ v TRANSACTIONS4,SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING~ z COMPLIANCED lznb&r!lut$mL`H !"#$%& GENERAL MATTERS  ~ ~ '!HOUSEHOLDING OF PROXY MATERIALS!!~ !!"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xVJ>=PF0*8X> @"&&%%$$  l  C  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } <} $ } %} $ } y } $ }       !Akebia Therapeutics, Inc.DEF 14A 04/29/2016'Nominees for Class II Directors Name ' Positions and Offices Held with  Director  Age  ! Akebia Therapeutics, Inc.  Since  Maxine Gowen  Director ~ z ~   Anupam Dalal  Director ~ b ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T{ocW'OC7=PF0*8X> @ l  P  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II DirectorsBoard CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } } $ } a/} $ } y } $ } } $ }                           !Akebia Therapeutics, Inc.DEF 14A 04/29/2016IACurrent Directors Not Standing For Election At The Annual Meeting Name  Positions and Offices  Director  Class and Year  Age   Held with Akebia  Since   in Which Term   Therapeutics, Inc.     Will Expire Ronald C. Renaud, Jr.  Director ~ z   Class I?2018 ~   Duane Nash  Director ~ v   Class I?2018 ~ Michael D. ClaymanDirector~ z Class I?2018~ Michael S. WyzgaDirector~ zClass III?2017~ John P. Butler/'Director, President and Chief Executive~ vClass III?2017~ OfficerMuneer A. Satter'Director, Chairman of the Board~ rClass III?2017~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4# YMA5+D>fZN&=PF0*8X> @ l  ^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing DIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } } $ } U} $ } U}  $ } U} $                            !Akebia Therapeutics, Inc.DEF 14A 04/29/2016Board Committees     Name   Nominating    Compensation   Audit    and    Committee    Committee    Corporate    Governance    CommitteeMichael D. Clayman CH     Duane Nash    M  Anupam Dalal CH     Maxine Gowen    M Ronald C. Renaud, Jr. M    Muneer A. Satter M M    Michael S. Wyzga M    CH $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8@ ~rf3W*z) qeY1=PF0*8X> @b           l  ?j  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } 7} $      !Akebia Therapeutics, Inc.DEF 14A 04/29/2016DIRECTOR COMPENSATION   Annual    Retainer Board of Directors:     All Non-Employee Members ~ "   Chairperson* ~ b[ Audit Committee:Members~ 2u Chairperson~ bCompensation Committee:Members~ "N Chairperson~ B6.Nominating and Corporate Governance Committee:Members~ : Chairperson~ 2u$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<Xyma%t*g*auiA=PF0*8X> @j      l  z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } } $ }  } $ }  }  $ } U} $                             !Akebia Therapeutics, Inc.DEF 14A 04/29/2016DIRECTOR COMPENSATION      ~ ~  Name   Fees paid in   Option    All Other     Cash($)(1)    Awards($)(2)    Compensation          ~  Muneer A. Satter(4)  ~ ֿ   ~ W    ? Jack Nielsen(5) ? ?    ? Anupam Dalal(4)~ G~ W    ?  Duane Nash(6)~ >~ W  ~    Michael S. Wyzga(7)~ ~ W    ? Maxine Gowen(8)~ >~ W  ~  rC Michael D. Clayman(8)~ * ~ W    ?  Ronald C. Renaud, Jr.(8)~ B ~ W  ~  6 Kim Dueholm(9) ? ?  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:! yman4's Rd=PF0*8X> @Z         l  M  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)EXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } a} $                        !Akebia Therapeutics, Inc.DEF 14A 04/29/2016.&Principal Accountant Fees and Services  Fee Category ~ z  ~ ~   Audit Fees ~ z  ~   Audit Related Fees  $?   $?  Tax Fees ~ Z  ~ s  All Other Fees  $?   $?  Total Fees~ ~ l$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0th\PT t=PF0*8X> @z           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } U} $ } $} $ } 0      !Akebia Therapeutics, Inc.DEF 14A 04/29/2016EXECUTIVE OFFICERS Name  Age   Position John P. Butler  ~   . &President and Chief Executive Officer;       Director Jason A. Amello  ~   . &Senior Vice President, Chief Financial       Officer and TreasurerBradley J. Maroni, M.D.~ /'Senior Vice President and Chief MedicalOfficerNicole R. Hadas~ .&Senior Vice President, General Counsel and Secretary Michel Dahan~ 0(Senior Vice President and Chief BusinessOfficer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6~|pd/HKez=PF0*8X> @"  l  ݘ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } 1} $} $ } a/      !Akebia Therapeutics, Inc.DEF 14A 04/29/2016Summary Compensation ?/'John P. Butler, our President and Chief    Executive Officer;  $ ____________________________1 )Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/" znb =PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } -} $ }  } $ }  } U} $ }  } $ } y} $ }  } $ } y} $      !Akebia Therapeutics, Inc.DEF 14A 04/29/2016Summary Compensation     # Name and Principal Position  Year   Salary   Bonus   Option    All Other    Total ($)       ~   ~    Awards    Compensation              ~   ~  John P. Butler  ~ ~   ~    ~ r   ~ Ҡ>   ~ B   ~ l - %Chief Executive Officer and President  ~ z   ~    ~ 6   ~ N,       ~ N ~ v~  ~   ~  E  ~ Ё~ ~      ~   Jason A. Amello~ ~~ 7  ~  T  ~ ~ ~ T/$Senior Vice President, Chief~ z~   ~    ~ ~ -'Financial Officer and Treasurer     ~   Bradley J. Maroni, M.D.~ ~~   ~  5   ~ B}#~ B~ F!Senior Vice President and~ z~ JZ~   ~    ~ L~ ~ `Chief Medical Officer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<iznb6:^1{'dX0=PF0*8X> @z           l  !n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Beneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } a/} $ }  } $ }  } U} $ }  } $ !     !Akebia Therapeutics, Inc.DEF 14A 04/29/2016!Outstanding Equity Awards     # Name and Principal Position   Number of    Number of   Option   Option     Securities    Securities   Exercise    Expiration    Underlying    Underlying    Price ($)   Date    Unexercised    Unexercised   Options   Options (#) (#) Exercisable UnexercisableJohn P. Butler~ " ~ Z  Gz?   9/16/2023-%Chief Executive Officer and President     ~ r~ ~   6@   5/14/2024 ?~ ' ~   L&@  3/6/2025  Jason A. Amello~ ~ ~   Gz?   9/23/2023.&Senior Vice President, Chief Financial     Officer and Treasurer~ ~~ ~   6@   5/14/2024 ?~ "~   L&@  3/6/2025  Bradley J. Maroni, M.D.~ ^b~ >~   Q9@   8/18/2024/'Senior Vice President and Chief Medical ?  L&@  3/6/2025Officer~ "0~ $____________________________1)Created by Morningstar Document Research.Dlui]US!Ly=Yg}n  0 (http://documentresearch.morningstar.com/H=PF0*8X> @                       l  1Z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity Awards!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECO! U } 1} $ } y} $ }  } $ 1                                 !Akebia Therapeutics, Inc.DEF 14A 04/29/2016Beneficial Ownership, $Name and address of beneficial owner   Number of    Percentage    shares    of shares    beneficially    beneficially   owned   owned# 5% or greater stockholders:        'Eagle Asset Management, Inc.(1)~ NG!ףp= $@ %880 Carillon Parkway St. Petersburg, FL 33716$Novartis Bioventures Ltd.(2)~ !(\!@ %131 Front Street#Hamilton, DO HM 12, Bermuda1)Trusts and Other Entities Affiliated with~ :z!Q@ %Muneer A. Satter(3)-%c/o Satter Investment Management, LLC-%676 North Michigan Avenue, Suite 4000Chicago, IL 60611-%Fidelity Management & Research LLC(4)~ w!Q@ %245 Summer StreetBoston, MA 02210DP lznbkbGCg M ! " # $ % & ' ( ) * + , - . / 0 / 'Directors and named executive officers:        !John P. Butler(5)!!~ !p!!!!!(\? !%"Jason A. Amello(6)""~ "j""" "*"#Bradley J. Maroni(7)##~ #f### #*#$Muneer A. Satter(3)$$~ $:z$$$$!Q@ $%%Michael D. Clayman(8)%%~ %^D%%% %*%& Anupam Dalal&& &?&&& &*&'Maxine Gowen(9)''~ 'X''' '*'!(Ronald C. Renaud, Jr.(10)((~ (~((( (*()Duane Nash(11)))~ )))) )*)*Michael S. Wyzga(12)**~ *&*** ***/+'All executive officers and directors as++~ +++++!@ +% ,a group (12 persons)(13)-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&Z@mf[]WWc=PF0*8X> @Z 00//..         l  3D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!KEEP THIS PORTION FOR YOUR RECO! U } $ } I"} $ } y< 3     !Akebia Therapeutics, Inc.DEF 14A 04/29/2016'HOUSEHOLDING OF PROXY MATERIALS  ! AKEBIA THERAPEUTICS, INC. , $VOTE BY INTERNET - www.proxyvote.com  $ 245 FIRST STREET, SUITE 1100 0 (Use the Internet to transmit your voting   CAMBRIDGE, MA 02142 0 (instructions and for electronic delivery    2 *of information up until 11:59 P.M. Eastern    7 /Time the day before the cut-off date or meeting3+date. Have your proxy card in hand when you7/access the web site and follow the instructions:2to obtain your records and to create an electronic voting instruction form.5-ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS6.If you would like to reduce the costs incurred2*by our company in mailing proxy materials,/'you can consent to receiving all future0(proxy statements, proxy cards and annual0(reports electronically via e-mail or the5-Internet. To sign up for electronic delivery,/'please follow the instructions above to3+vote using the Internet and, when prompted,4,indicate that you agree to receive or access0(proxy materials electronically in futureyears.DW l{ocW"EsF 7n =s  !"#$%&'()*+,-./012    & VOTE BY PHONE - 1-800-690-6903!!!!0!(Use any touch-tone telephone to transmit""""/"'your voting instructions up until 11:59####4#,P.M. Eastern Time the day before the cut-off$$$$2$*date or meeting date. Have your proxy card%%%%1%)in hand when you call and then follow the&&&&& instructions.'''''((((( VOTE BY MAIL))))6).Mark, sign and date your proxy card and return****/*'it in the postage-paid envelope we have++++1+)provided or return it to Vote Processing,,,,,2,*c/o Broadridge, 51 Mercedes Way, Edgewood,----- NY 11717../$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*#hBwc'uG=PF0*8X> @221100 l  <:*  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS! U } $ } $} $ } y } $ } } $ } y } $ } I } $ } } $ } } $ } I } $$ <%%%%%%%%%% % % % % %%%%%%%%%%%%%%%%%%%!Akebia Therapeutics, Inc.DEF 14A 04/29/2016*"KEEP THIS PORTION FOR YOUR RECORDS      !"#$                        ! " # $             For  Withhold  For All   8 0To withhold authority to vote for any individual             All  All  Except   3 +nominee(s), mark ?For All Except? and write                      3 +the number(s) of the nominee(s) on the line      2 *The Board of Directors recommends you vote  ?  ?  ?    below.         ! " #FOR the following:~ !1)Election of Class II Directors for a term    !"#6.expiring at the Annual Meeting of Stockholdersto be held in 2019      !"#Nominees!"#~ ( Anupam Dalal 02 Maxine Gowen#2*The Board of Directors recommends you vote ForAgainst Abstain#$#FOR the following proposal: ? ?  ?#$~ ! 3+Proposal to ratify the appointment of Ernst0(& Young LLP as the company?s Independent-%Registered Public Accounting Firm for1)the fiscal year ending December 31, 2016. !"#$Dlxl`TT!g hJhl %!%"%#%$%%%&%'%(%)%*%+%,%-%.%/%0%1%2%3%4%5%6%7%8%9%:%;%      2 *NOTE: The shares represented by this proxy!!!!!!/!'when properly executed will be voted in""""""5"-the manner directed herein by the undersigned######0#(Stockholder(s). If no direction is made,$$$$$$3$+this proxy will be voted FOR items 1 and 2.%%%%%%1%)If any other matters properly come before&&&&&&/&'the meeting, or if cumulative voting is''''''3'+required, the person(s) named in this proxy((((((&(will vote in their discretion.))))))))))))) )!)")#)$*******++++++5+-Please sign exactly as your name(s) appear(s)++++++++++++++ +!+"+#+$,,,,,,3,+hereon. When signing as attorney, executor,------1-)administrator, or other fiduciary, please......4.,give full title as such. Joint owners should//////./&each sign personally. All holders must000000.0&sign. If a corporation or partnership,11111141,please sign in full corporate or partnership222222#2name by authorized officer.33333334444444444 4 4 4 4 44444444444444444 4!4"4#4$5555555555 5 5 5 5 55555555555555555 5!5"5#5$666666*6"Signature [PLEASE SIGN WITHIN BOX]6  6 Date6 6 6 66666666 6Signature (Joint Owners)6 6Date666666 6!6"6#6$77777777 7 7 7 7 777777777778$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/< )-39v.`L@=PF0*8X> @Z+;;$::$99$6666221100//..--,,++((''&&%%$$##""!!  " "             l  0:A  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934AKEBIA THERAPEUTICS INCSummary Compensation!Nominees for Class II Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATIONDIRECTOR COMPEN (1)!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compens (1)Summary Compens (2)Outstanding Equity AwardsBeneficial Ownership!HOUSEHOLDING OF PROXY MATERIALS!KEEP THIS PORTION FOR YOUR RECOU } $ } 2}  $ 0                                 !Akebia Therapeutics, Inc.DEF 14A 04/29/2016"             ! AKEBIA THERAPEUTICS, INC.    & Annual Meeting of Stockholders     June 16, 2016 10:00 AM    9 1This proxy is solicited by the Board of Directors,$The stockholder(s) hereby appoint(s)6.Nicole R. Hadas and Jason A. Amello, or either0(of them, as proxies, each with the power3+to appoint (his/her) substitute, and hereby1)authorizes them to represent and to vote,1)as designated on the reverse side of this1)ballot, all of the shares of common stock.&of AKEBIA THERAPEUTICS, INC., that the.&stockholder(s) is/are entitled to vote0(at the Annual Meeting of Stockholders(s)4,to be held at 10:00 AM EST on June 16, 2016,.&at the offices of Akebia Therapeutics,4,Inc., 245 First Street, Cambridge, MA 02142,4,and any adjournment or postponement thereof.0(THIS PROXY, WHEN PROPERLY EXECUTED, WILLD lvI0X#Y0d2 ! " # $ % & ' ( ) * + , - . /     3 +BE VOTED AS DIRECTED BY THE STOCKHOLDER(S).!!!!2!*IF NO SUCH DIRECTIONS ARE MADE, THIS PROXY""""6".WILL BE VOTED FOR THE ELECTION OF THE NOMINEES####7#/TO THE BOARD OF DIRECTORS LISTED ON THE REVERSE$$$$ $SIDE AND FOR PROPOSAL 2.%%%%%&&&&&& '''''''''' ' ()))))))))) ) ******2**Continued and to be signed on reverse side*** * +++++++,$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$m,3^ rpd<=PF0*8X> @// .. -- $$##""!!      Root Entry FBook  B  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~