Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
05/31/2022 - 06:15 PM
CAMBRIDGE, Mass., May 31, 2022 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, granted equity awards on May 31, 2022 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 70 individuals hired by Sarepta in May 2022. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 90,900 shares of Sarepta's common stock, and in the aggregate 46,625 restricted stock units (“RSUs”). The options have an exercise price of $72.82 per share, which is equal to the closing price of Sarepta's common stock on May 31, 2022 (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 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.
Investor Contact: iestepan@sarepta.com
Media Contact: tsorrentino@sarepta.com
SRPT Rankings
#2404 Ranked by Stock Gains
SRPT Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
Cambridge
About SRPT
sarepta therapeutics is a biopharmaceutical company focused on the discovery and development of unique rna-targeted therapeutics for the treatment of rare, infectious and other diseases. the company is primarily focused on rapidly advancing the development of its potentially disease-modifying dmd drug candidates, including its lead dmd product candidate, eteplirsen, designed to skip exon 51. sarepta is also developing therapeutics for the treatment of infectious diseases, such as drug-resistant bacteria and other rare human diseases. for more information, please visit us at www.sarepta.com.
