Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 31 2019 - 6:00PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision
genetic medicine for rare diseases, granted equity awards on
October 31, 2019, 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 eleven individuals hired by Sarepta in October 2019. The equity
awards were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employees received, in the aggregate,
options to purchase 14,270 shares of Sarepta's common stock, and in
the aggregate, 7,150 restricted stock units (“RSUs”). The options
have an exercise price of $83.06 per share, which is equal to
the closing price of Sarepta's common stock on October 31, 2019
(the “Grant Date”). One-fourth of the shares underlying each
employee’s option will vest on the one-year anniversary of the
Grant Date 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 the Grant Date, in each case, subject
to each such employee’s continued employment with Sarepta on such
vesting dates.
One-fourth of the RSUs will vest yearly on each
anniversary of the Grant Date, such that the RSUs granted to each
employee will be fully vested on the fourth anniversary of the
Grant Date, in each case, subject to each such employee’s continued
employment with Sarepta on such vesting date.
About Sarepta
TherapeuticsSarepta is at the forefront of precision
genetic medicine, having built an impressive and competitive
position in Duchenne muscular dystrophy (DMD) and more recently in
gene therapies for Limb-girdle muscular dystrophy diseases (LGMD),
MPS IIIA, Pompe and other CNS-related disorders, totaling over 20
therapies in various stages of development. The Company’s programs
and research focus span several therapeutic modalities, including
RNA, gene therapy and gene editing. Sarepta is fueled by an
audacious but important mission: to profoundly improve and extend
the lives of patients with rare genetic-based diseases. 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.
Sarepta Therapeutics, Inc.Investors: Ian Estepan, 617-274-4052
iestepan@sarepta.com
Media:Tracy Sorrentino, 617-301-8566tsorrentino@sarepta.com
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