Sarepta CTO receives 6,250 performance units in latest Form 4 filing

Rhea-AI Filing Summary

Sarepta Therapeutics (SRPT) Form 4 filing: Chief Technology Operations Officer Bilal Arif reported the award of 6,250 Performance Stock Units (PSUs) on 08/05/2025. The grant originates from a March 1 2024 PSU agreement; shares earned were approved by the Compensation Committee based on milestone achievement. The PSUs convert 1-for-1 into common stock and will vest on 03/01/2026, contingent on continued employment. Following the transaction, Arif directly holds 6,250 derivative securities; no shares were sold and no cash price was paid, indicating this is an incentive, not a market purchase. No changes to common-stock ownership were disclosed.

The filing signals ongoing executive retention and alignment with long-term performance targets but does not materially affect share count or near-term earnings. Investors typically view such equity awards as neutral unless unusually large relative to existing float.

Positive

• Performance-conditioned equity promotes alignment between the CTO and shareholders.
• No insider selling; the transaction is non-dilutive until vesting, signaling retention rather than cashing out.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity award; minimal market impact.

The 6,250-unit PSU grant to the CTO is a standard retention tool, representing less than 0.01% of SRPT’s ~85 million diluted shares. Because the PSUs vest in 2026 and carry no immediate cash cost, dilution and expense recognition are spread over future periods and are already contemplated in SBC projections. No open-market buying or selling occurred, so supply-demand dynamics remain unchanged. Overall, the filing is informational with negligible valuation implications.

Corporate Governance Specialist

TL;DR: Award aligns management with milestone goals; governance intact.

Performance-based equity, rather than time-based RSUs, strengthens pay-for-performance alignment. The committee’s milestone assessment suggests governance processes are functioning. Vesting through 2026 supports executive retention during key commercial launches. However, the modest size means limited signaling effect regarding insider confidence. Impact to shareholders is therefore neutral.

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

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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^*

Arif Bilal

(Last) (First) (Middle)

215 FIRST STREET

(Street)

CAMBRIDGE MA 02129

(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)
	Chief Tech Ops Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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

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
Performance Stock Units	(1)	08/05/2025		A		6,250		(1)	(1)	Common Stock	6,250	$0	6,250	D

Explanation of Responses:

1. Represents the number of shares earned under a PSU award granted to the Reporting Person on March 1, 2024. The number of shares earned is based on the Compensation Committee's determination of the Company's achievement of the prescribed milestones under the terms of the PSU award. The earned PSUs will vest on March 1, 2026, subject to the Reporting Person continuing to provide service to the Company through such vesting date.

	/s/ Cristin Rothfuss, as Attorney-in-Fact for Bilal Arif	08/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Sarepta Therapeutics' CTO acquire on 08/05/2025?

Bilal Arif received 6,250 Performance Stock Units under a 2024 PSU plan.

When will the 6,250 PSUs reported for SRPT vest?

The units vest on 03/01/2026, subject to continued employment.

Did the Form 4 show any insider selling of SRPT shares?

No. The filing reflects an award (code "A"); no shares were sold or disposed.

How significant is the PSU award relative to Sarepta’s share count?

6,250 shares represent <0.01% of roughly 85 million diluted shares—immaterial dilution.

Does this Form 4 affect Sarepta Therapeutics’ earnings?

Expense will be recognized over the vesting period, but the amount is not material to near-term EPS.