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Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Summary
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) granted equity awards on November 30, 2023, to 13 individuals as an inducement to employment. The employees received options to purchase 14,250 shares of Sarepta's common stock and 7,350 restricted stock units. The options have an exercise price of $81.28 per share, with vesting schedules over four years, subject to continued employment.
The employees received, in the aggregate, options to purchase 14,250 shares of Sarepta's common stock, and in the aggregate 7,350 restricted stock units (“RSUs”). The options have an exercise price of $81.28 per share, which is equal to the closing price of Sarepta's common stock on November 30, 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.comor 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.
What is the recent announcement from Sarepta Therapeutics, Inc. (NASDAQ:SRPT)?
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) granted equity awards to 13 individuals as an inducement to employment on November 30, 2023.
How many shares of Sarepta's common stock were included in the equity awards?
The employees received options to purchase 14,250 shares of Sarepta's common stock.
What is the exercise price of the options granted by Sarepta Therapeutics, Inc. (NASDAQ:SRPT)?
The options have an exercise price of $81.28 per share.
What is the vesting schedule for the equity awards?
The options and restricted stock units have vesting schedules over four years, subject to each employee’s continued employment with Sarepta Therapeutics, Inc. (NASDAQ: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.