NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.
restricted stock unitsfinancial
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
exercise pricefinancial
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
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CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, granted equity awards on July 28, 2026, that were previously approved by its Board of Directors under Sarepta’s 2024 Employment Commencement Incentive Plan, as amended, as a material inducement to employment to Michael Severino, M.D. as Chief Executive Officer of Sarepta. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
Dr. Severino received options to purchase 2,224,342 shares of Sarepta’s common stock (“Options”), and 756,104 restricted stock units (“RSUs”).The options have an exercise price of $17.74 per share, which is equal to a 15% premium to the closing price of Sarepta’s common stock on July 28, 2026 (the “Grant Date”).One-fourth of Dr. Severino’s Options will vest on the one-year anniversary of the Grant Date and thereafter 1/48th of Dr. Severino’s Options will vest monthly, such that the Options will be fully vested on the fourth anniversary of the Grant Date, in each case, generally subject to Dr. Severino’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 Dr. Severino will be fully vested on the fourth anniversary of the Grant Date, generally subject to Dr. Severino’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 a leadership position in Duchenne muscular dystrophy (Duchenne) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases. For more information, please visit www.sarepta.com or follow us on LinkedIn, X, 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.
