Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 29 2024 - 4:00PM
Business Wire
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in
precision genetic medicine for rare diseases, granted equity awards
on March 29, 2024 that were previously approved by the Compensation
Committee of its Board of Directors under Sarepta’s 2024 Employment
Commencement Incentive Plan, as a material inducement to employment
to 8 individuals hired by Sarepta in March 2024. The equity awards
were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employees received, in the aggregate, options to purchase
5,100 shares of Sarepta's common stock, and in the aggregate 9,335
restricted stock units (“RSUs”). The options have an exercise price
of $129.46 per share, which is equal to the closing price of
Sarepta's common stock on March 29, 2024 (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 on an urgent mission:
engineer precision genetic medicine for rare diseases that
devastate lives and cut futures short. We hold leadership positions
in Duchenne muscular dystrophy (DMD) and limb-girdle muscular
dystrophies (LGMDs), and we currently have more than 40 programs in
various stages of development. Our vast pipeline is driven by our
multi-platform Precision Genetic Medicine Engine in gene therapy,
RNA and gene editing. For more information, please visit
www.sarepta.com or follow us on LinkedIn, X (formerly Twitter),
Instagram and Facebook.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240329870657/en/
Investor Contact: Ian Estepan, 617-274-4052
iestepan@sarepta.com
Media Contact: Tracy Sorrentino, 617-301-8566
tsorrentino@sarepta.com
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