Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, granted equity awards on July 28, 2026, that were previously approved by its Board of Directors under Sarepta’s 2024 Employment Commencement Incentive Plan, as amended, as a material inducement to employment to Michael Severino, M.D. as Chief Executive Officer of Sarepta. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
Dr. Severino received options to purchase 2,224,342 shares of Sarepta’s common stock (“Options”), and 756,104 restricted stock units (“RSUs”). The options have an exercise price of $17.74 per share, which is equal to a 15% premium to the closing price of Sarepta’s common stock on July 28, 2026 (the “Grant Date”). One-fourth of Dr. Severino’s Options will vest on the one-year anniversary of the Grant Date and thereafter 1/48th of Dr. Severino’s Options will vest monthly, such that the Options will be fully vested on the fourth anniversary of the Grant Date, in each case, generally subject to Dr. Severino’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 Dr. Severino will be fully vested on the fourth anniversary of the Grant Date, generally subject to Dr. Severino’s continued employment with Sarepta on such vesting date.
