SRPT Insider Awards 93,875 Time-Based and 25,000 Performance RSUs to EVP

Rhea-AI Filing Summary

Cristin Rothfuss, EVP and General Counsel of Sarepta Therapeutics (SRPT), received stock awards totaling 118,875 restricted stock units (RSUs) on a transaction dated 09/03/2025. The awards consist of 93,875 RSUs that vest 50% on 09/03/2026 and 50% on 09/03/2027 subject to continued service, and 25,000 performance-based RSUs that vest 100% on 09/03/2028 only if performance criteria are met and the Reporting Person remains in service. Each RSU represents the right to one share and the grants were reported with a $0 purchase price. Following these grants, the Reporting Person beneficially owned 139,985 shares.

Positive

• Retention-focused structure: 93,875 RSUs vesting 50% in 2026 and 50% in 2027 supports executive retention.
• Performance alignment: 25,000 RSUs vest only if performance criteria are met, tying pay to outcomes.
• No cash outlay: Grants reported at $0 indicate equity awards rather than purchases.

Negative

• Undisclosed performance metrics: The Form 4 does not specify the performance criteria for the 25,000 RSUs, limiting investor assessment.
• Potential dilution: The awards increase insider beneficial ownership to 139,985 shares; dollar impact and dilution are not provided here.

Insights

Corporate Governance Expert

TL;DR: Executive awarded time-based and performance-based RSUs, aligning compensation with retention and performance.

The grants combine standard retention-focused awards and performance-contingent equity. The time-based vesting schedule spreads recognition over two years for the larger award, supporting retention. The 25,000 performance RSUs introduce a pay-for-performance element, but the specific performance metrics are not disclosed in this Form 4, limiting assessment of their stringency. The reported $0 price indicates these are awards, not purchases, and the incremental beneficial ownership increases the insider's stake to 139,985 shares.

Compensation Analyst

TL;DR: Mix of cliff and graded vesting balances near-term retention with longer-term performance incentives.

The 93,875 RSUs with 50/50 graded vesting over two years provide phased retention incentives while the 25,000 RSUs with 100% vesting in three years contingent on performance create potential upside tied to undisclosed metrics. Without values or performance targets disclosed here, quantifying dilution or pay-for-performance alignment is not possible from this filing alone.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rothfuss Cristin

(Last) (First) (Middle)

215 FIRST STREET

(Street)

CAMBRIDGE MA 02151

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sarepta Therapeutics, Inc. [ SRPT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
09/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		A		93,875(1)	A	$0	114,985	D
Common Stock	09/03/2025		A		25,000(2)	A	$0	139,985	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person was granted restricted stock units ("RSUs"). Each RSU represents the right to receive one share of common stock. 50% of the RSUs will vest on September 3, 2026, and the remaining 50% will vest on September 3, 2027, subject to the Reporting Person's continued service to the Company.

2. The Reporting Person was granted restricted stock units ("RSUs"). Each RSU represents the right to receive one share of common stock. 100% of the RSUs will vest on September 3, 2028, subject to the Reporting Person's continued service to the Company and only if certain performance criteria has been deemed achieved by the Compensation Committee of the Board.

	/s/ Cristin Rothfuss	09/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What grants did Cristin Rothfuss receive according to the SRPT Form 4?

The Form 4 reports grants of 93,875 RSUs with 50% vesting on 09/03/2026 and 50% on 09/03/2027, and 25,000 performance-based RSUs vesting 100% on 09/03/2028 if performance criteria are met.

How many shares does Cristin Rothfuss beneficially own after the reported transactions?

Following the reported transactions, the Form 4 shows beneficial ownership of 139,985 shares.

Did Cristin Rothfuss purchase the shares reported on the Form 4?

No. The reported transactions show a $0 price, indicating these were equity awards (RSUs), not purchases.

When do the RSUs vest?

The 93,875 RSUs vest 50% on 09/03/2026 and 50% on 09/03/2027. The 25,000 RSUs vest 100% on 09/03/2028 only if performance criteria are achieved.

Are the performance targets for the 25,000 RSUs disclosed in this filing?

No. The Form 4 states the 25,000 RSUs vest upon achievement of performance criteria as determined by the Compensation Committee, but does not disclose the specific targets.