Sarepta Therapeutics announces incentive grants
CAMBRIDGE, Mass., May 28, 2021 (GLOBE NEWSWIRE) – Sarepta Therapeutics, Inc. (NASDAQ: SRPT), the leader in precision genetic medicine for rare diseases, awarded equity awards on May 28, 2021 that had been previously approved by the Compensation Committee of its Board of Directors as part of the Sarepta 2014 start-of-employment incentive plan, as a significant employment incentive for 6 people hired by Sarepta in May 2021 The share awards have been approved in accordance with Nasdaq Listing Rule 5635 (c) (4).
Employees received a total of options to purchase 6,295 common shares of Sarepta and a total of 2,950 restricted stock units (“RSUs”). The options have an exercise price of $ 75.65 per share, which corresponds to the closing price of the common share of Sarepta on May 28, 2021 (the “grant date”). One-quarter 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, so that the shares underlying the option granted to each be fully vested on the fourth anniversary of the grant date, in each case, subject to the continued employment of each such employee at Sarepta on these acquisition dates.
One-quarter of the RSUs will vest annually on each anniversary of the grant date, so that the PSUs awarded to each employee will vest in full on the fourth anniversary of the grant date, in each case, subject to the continuation of the grant date. employment of each of these employees with Sarepta on this acquisition date.
About Sarepta Therapeutics
Sarepta has an urgent mission: to design precision genetic medicine for the rare diseases that devastate lives and shorten the future. We hold leadership positions in Duchenne Muscular Dystrophy (DMD) and Girdle Muscular Dystrophies (LGMD), and we currently have over 40 programs in various stages of development. Our vast pipeline is fueled by our multi-platform precision genetic medicine engine in the areas of gene therapy, RNA and gene editing. For more information, visit www.sarepta.com or follow us on Twitter, LinkedIn, Instagram and Facebook.
Publication of information on the Internet
We regularly 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 periodically check our website for important information about us.
Source: Sarepta Therapeutics, Inc.
Ian Estepan, 617 274 4052
Tracy Sorrentino, 617-301-8566