Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 29 2023 - 6:30PM
Business Wire
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in
precision genetic medicine for rare diseases, granted equity awards
on September 29, 2023 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 24 individuals hired by Sarepta in
September 2023. The equity awards were approved in accordance with
Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase
16,575 shares of Sarepta's common stock, and in the aggregate 8,575
restricted stock units (“RSUs”). The options have an exercise price
of $121.22 per share, which is equal to the closing price of
Sarepta's common stock on September 29, 2023 (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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230929375520/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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