CAMBRIDGE, Mass., Oct. 31, 2018 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a leader in
precision genetic medicine for rare diseases, granted equity awards on October 31, 2018, that were previously approved by the
Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material
inducement to employment to seventeen individuals hired by Sarepta in October 2018. The equity awards were approved in accordance
with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 20,960 shares of Sarepta's common stock, and in
the aggregate, 10,495 restricted stock units (“RSUs”). The options have an exercise price of $133.76 per share, which is equal to
the closing price of Sarepta's common stock on October 31, 2018 (the “Grant Date”). Thirteen employees were granted options with
the following vesting schedule: one-fourth of the shares underlying each employee’s option will vest on the one-year anniversary of
his or her date of hire 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 his or her date of hire, in
each case, subject to each such employee’s continued employment with Sarepta on such vesting dates. Four employees were
granted options with the following vesting schedule: 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 at the forefront of precision genetic medicine, having built an impressive and competitive position
in Duchenne muscular dystrophy (DMD) and more recently in Limb-girdle muscular dystrophy (LGMD), Charcot-Marie-Tooth (CMT) and
CNS-related disorders, totaling over 20 therapies in various stages of development. The Company’s programs span across several
therapeutic modalities, including RNA, gene therapy and gene editing. Sarepta is poised to be the most meaningful precision genetic
medicine company in the world and make a profound difference in the lives of patients suffering from rare neuromuscular diseases
and other rare diseases. For more information, please visit www.sarepta.com.
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.
Source: Sarepta Therapeutics, Inc.
Media and Investors:
Sarepta Therapeutics, Inc.
Ian Estepan, 617-274-4052
iestepan@sarepta.com
or
W2O Group
Jerica Pitts, 312-858-3469
jpitts@w2ogroup.com
