Sarepta Therapeutics Announces Inducement Grant Un
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CAMBRIDGE, Mass., April 05, 2017 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ: SRPT ), a commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, granted an equity award on April 3, 2017 to Catherine Stehman-Breen. The award was previously approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to Dr. Stehman-Breen’s employment as chief medical officer. The equity award was approved in accordance with Nasdaq Listing Rule 5635(c)(4).
Dr. Stehman-Breen received options to purchase 100,000 shares of Sarepta's common stock. The options have an exercise price of $29.70 per share, which is equal to the closing price of Sarepta's common stock on April 3, 2017. One-fourth of the shares underlying the employee’s option will vest on the one year anniversary of her date of hire and thereafter 1/48th of the shares underlying the option will vest monthly, such that the shares underlying the option will be fully vested on the fourth anniversary of her date of hire, in each case, subject to her continued employment with Sarepta on such vesting dates.
About Sarepta Therapeutics
Sarepta Therapeutics is a commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying Duchenne muscular dystrophy (DMD) drug candidates. For more information, please visit us at 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.
Media and Investors: Sarepta Therapeutics, Inc. Ian Estepan, 617-274-4052 iestepan@sarepta.com or W2O Group Brian Reid, 212-257-6725 breid@w2ogroup.com
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