Sarepta therapeutics announces inducement grant under nasdaq listing rule 5635(c)(4)

Cambridge, mass.--(business wire)--sarepta therapeutics, inc. (nasdaq:srpt), a developer of innovative rna-targeted therapeutics, granted an equity award today to rachel chan. the award was previously approved by the compensation committee of sarepta’s board of directors under sarepta’s 2014 employment commencement incentive plan, as a material inducement to ms. chan’s employment as a chemistry lab aide at sarepta in may 2015. the equity award was approved in accordance with nasdaq listing rule 5635(c)(4). ms. chan received an option to purchase 600 shares of sarepta's common stock. the option has an exercise price of $25.62 per share, which is equal to the closing price of sarepta's common stock on may 29, 2015. one-fourth of the shares underlying ms. chan’s option will vest on the one year anniversary of her date of hire and thereafter 1/48th of the shares underlying ms. chan’s option will vest monthly, such that the shares underlying the option will be fully vested on the fourth anniversary of her date of hire, subject to her continued employment with sarepta on each such vesting date. about sarepta therapeutics sarepta therapeutics is a biopharmaceutical company focused on the discovery and development of unique rna-targeted therapeutics for the treatment of rare, infectious and other diseases. the company is primarily focused on rapidly advancing the development of its potentially disease-modifying dmd drug candidates, including its lead dmd product candidate, eteplirsen, designed to skip exon 51. sarepta is also developing therapeutics for the treatment of drug-resistant bacteria and infectious, rare and other human diseases. 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.
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