Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 31 2017 - 6:30PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a commercial-stage
biopharmaceutical company focused on the discovery and development
of precision genetic medicines to treat rare neuromuscular
diseases, granted equity awards on August 31, 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 twelve individuals
hired by Sarepta in August 2017. The equity awards were approved in
accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase
63,715 shares of Sarepta's common stock. The options have an
exercise price of $40.29 per share, which is equal to the closing
price of Sarepta's common stock on August 31, 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 precision
genetic medicines to treat 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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