Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 29 2019 - 6:00PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision
genetic medicine for rare diseases, granted equity awards on
November 29, 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 fourteen individuals hired by Sarepta
in November 2019. The equity awards were approved in accordance
with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate,
options to purchase 19,535 shares of Sarepta's common stock, and in
the aggregate, 9,875 restricted stock units (“RSUs”). The options
have an exercise price of $112.49 per share, which is equal to the
closing price of Sarepta's common stock on November 29, 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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