Sarepta Therapeutics granted equity awards to Michael Severino, M.D. as a material inducement to his employment as Chief Executive Officer. The awards, approved under the company's 2024 Employment Commencement Incentive Plan, consist of options to purchase 2,224,342 shares of common stock and 756,104 restricted stock units. The options have an exercise price of $17.74 per share, a 15% premium to the July 28, 2026 closing price, and vest over four years with one-fourth vesting after one year and the remainder monthly thereafter. The restricted stock units vest in equal annual installments over four years, subject to continued employment.
Sarepta Therapeutics IncEquity awards granted to new CEO as inducement, aligning interests and incentivizing performance.