Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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CAMBRIDGE, Mass. ~ On February 29, 2024, Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a leading company in precision genetic medicine for rare diseases, announced the granting of equity awards to five individuals who were recently hired by the company. These awards were previously approved by the Compensation Committee of Sarepta's Board of Directors under the 2014 Employment Commencement Incentive Plan and were given as a material inducement to employment.

According to Nasdaq Listing Rule 5635(c)(4), the equity awards included options to purchase a total of 6,300 shares of Sarepta's common stock and 6,300 restricted stock units (RSUs). The options have an exercise price of $127.90 per share, which is equivalent to the closing price of Sarepta's common stock on the day they were granted.

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The options will vest over a period of four years, with one-fourth of the shares underlying each employee's option vesting on the one-year anniversary of the grant date. After that, 1/48th of the shares will vest monthly until all shares are fully vested on the fourth anniversary of the grant date. However, this is subject to each employee's continued employment with Sarepta on each vesting date.

Similarly, one-fourth of the RSUs will vest yearly on each anniversary of the grant date until they are fully vested on the fourth anniversary. Again, this is subject to each employee's continued employment with Sarepta.

This announcement highlights Sarepta's commitment to attracting and retaining top talent in their efforts towards precision genetic medicine for rare diseases. The company believes that these equity awards will serve as a strong incentive for employees to contribute towards their mission and drive success in their field.
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