Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 31 2018 - 6:00PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a leader in precision
genetic medicine for rare diseases, granted equity awards on
December 31, 2018, 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 twenty-three individuals hired by
Sarepta in December 2018. The equity awards were approved in
accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate,
options to purchase 40,950 shares of Sarepta's common stock, and in
the aggregate, 13,500 restricted stock units (“RSUs”). The options
have an exercise price of $109.13 per share, which is equal to the
closing price of Sarepta's common stock on December 31, 2018 (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
Therapeutics
Sarepta is at the forefront of precision genetic
medicine, having built an impressive and competitive position in
Duchenne muscular dystrophy (DMD) and more recently in Limb-girdle
muscular dystrophy (LGMD), Charcot-Marie-Tooth (CMT) and
CNS-related disorders, totaling over 20 therapies in various stages
of development. The Company’s programs span across several
therapeutic modalities, including RNA, gene therapy and gene
editing. Sarepta is poised to be the most meaningful precision
genetic medicine company in the world and make a profound
difference in the lives of patients suffering from rare
neuromuscular diseases and other rare 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.
Media and Investors: Sarepta Therapeutics, Inc. Ian Estepan,
617-274-4052 iestepan@sarepta.com or W2O GroupJerica Pitts,
312-858-3469jpitts@w2ogroup.com
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