Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 30 2021 - 6:45PM
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision
genetic medicine for rare diseases, granted equity awards on Apr.
30, 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 4 individuals hired by Sarepta in April 2021. The equity awards
were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate,
options to purchase 8,615 shares of Sarepta's common stock, and in
the aggregate 3,275 restricted stock units (“RSUs”). The options
have an exercise price of $70.84 per share, which is equal to the
closing price of Sarepta's common stock on Apr. 30, 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
TherapeuticsSarepta 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 Twitter, LinkedIn,
Instagram and Facebook.
Internet
Posting of InformationWe 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.
Investor Contact: Ian Estepan,
617-274-4052iestepan@sarepta.com
Media Contact: Tracy Sorrentino,
617-301-8566tsorrentino@sarepta.com
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