Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 30 2019 - 6:00PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision
genetic medicine for rare diseases, granted equity awards on April
30, 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 thirty-five individuals hired by Sarepta in April 2019. The
equity awards were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employees received, in the aggregate,
options to purchase 55,035 shares of Sarepta's common stock, and in
the aggregate, 28,145 restricted stock units (“RSUs”). The options
have an exercise price of $ 116.94 per share, which is equal to the
closing price of Sarepta's common stock on April 30, 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
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 gene
therapies for 5 Limb-girdle muscular dystrophy diseases (LGMD),
Charcot-Marie-Tooth (CMT), 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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