CAMBRIDGE, Mass., Sept. 28, 2018 — Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a commercial-stage biopharmaceutical company focused on the discovery and development of precision genetic medicine to treat rare neuromuscular diseases, granted equity awards on September 28, 2018, 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 forty-three individuals hired by Sarepta in September 2018. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 116,531 shares of Sarepta’s common stock. The options have an exercise price of $161.51 per share, which is equal to the closing price of Sarepta’s common stock on September 28, 2018. One-fourth of the shares underlying each employee’s option will vest on the one-year anniversary of his or her date of hire 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 his or her date of hire, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates.
About Sarepta Therapeutics
Sarepta Therapeutics is a commercial-stage biopharmaceutical company focused on the discovery and development of precision genetic medicine to treat rare neuromuscular diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying Duchenne muscular dystrophy (DMD) drug candidates. For more information, please visit www.sarepta.com.
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Source: Sarepta Therapeutics, Inc.