Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 01 2017 - 5:30PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a commercial-stage
biopharmaceutical company focused on the discovery and development
of unique RNA-targeted therapeutics for the treatment of rare
neuromuscular diseases, granted equity awards on April 28, 2017,
that were previously approved by the Compensation Committee of its
Board of Directors under Sarepta’s 2014 Employment Commencement
Incentive Plan, as a material inducement to employment to seven
individuals hired by Sarepta in April 2017. The equity awards were
approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase
21,317 shares of Sarepta's common stock. The options have an
exercise price of $36.26 per share, which is equal to the closing
price of Sarepta's common stock on April 28, 2017. One-fourth of
the shares underlying each employee’s option will vest on the one
year anniversary of his or her date of hire and thereafter 1/48th
of the shares underlying each employee’s option will vest monthly,
such that the shares underlying the option granted to each employee
will be fully vested on the fourth anniversary of his or her date
of hire, in each case, subject to each such employee’s continued
employment with Sarepta on such vesting dates.
About Sarepta Therapeutics
Sarepta Therapeutics is a commercial-stage biopharmaceutical
company focused on the discovery and development of unique
RNA-targeted therapeutics for the treatment of rare neuromuscular
diseases. The Company is primarily focused on rapidly advancing the
development of its potentially disease-modifying Duchenne muscular
dystrophy (DMD) drug candidates. For more information, please visit
www.sarepta.com.
Internet Posting of Information
We routinely post information that may be important to investors
in the 'For Investors' section of our website
at www.sarepta.com. We encourage investors and potential
investors to consult our website regularly for important
information about us.
Source: Sarepta Therapeutics, Inc.
Media and Investors:
Sarepta Therapeutics, Inc.
Ian Estepan, 617-274-4052
iestepan@sarepta.com
or
W2O Group
Brian Reid, 212-257-6725
breid@w2ogroup.com
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