Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
January 29 2021 - 8:30PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision
genetic medicine for rare diseases, granted equity awards on
January 29, 2021 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 26 individuals hired by Sarepta in January 2021. The equity
awards were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employees received, in the aggregate,
options to purchase 20,565 shares of Sarepta's common stock, and in
the aggregate, 7,760 restricted stock units (“RSUs”). The options
have an exercise price of $89.40 per share, which is equal to the
closing price of Sarepta's common stock on January 29, 2021 (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
TherapeuticsAt Sarepta, we are leading a revolution in
precision genetic medicine and every day is an opportunity to
change the lives of people living with rare disease. The Company
has built an impressive position in Duchenne muscular dystrophy
(DMD) and in gene therapies for limb-girdle muscular dystrophies
(LGMDs), mucopolysaccharidosis type IIIA, Charcot-Marie-Tooth
(CMT), and other CNS-related disorders, with more than 40 programs
in various stages of development. The Company’s programs and
research focus span several therapeutic modalities, including RNA,
gene therapy and gene editing. For more information, please
visit www.sarepta.com or follow us on Twitter, LinkedIn,
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.
Source: Sarepta Therapeutics, Inc.
Sarepta Therapeutics, Inc.Investors:Ian Estepan,
617-274-4052, iestepan@sarepta.com
Media:Tracy Sorrentino, 617-301-8566,
tsorrentino@sarepta.com
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