Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 28

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 28
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 and retain our employees. Based on our historical burn rates, disclosed below, the Board anticipates that the additional 4,300,000 shares requested will enable the Company to fund its current equity compensation program for the next year, subject to ongoing volatility of our stock price and changes in our growth strategy, accommodating anticipated grants related to the retention and promotion of employees as we continue to advance our mission and multiple programs. The Board took into consideration the compensation committee’s

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recommendations and the burn rate, dilution and overhang metrics disclosed below with reference to peer and broader industry practices provided by its independent compensation consultant, Aon, in approving the 4,300,000 share increase for the share reserve under the 2018 Plan. Key Historical Equity Metrics Approval of the amendment to the 2018 Plan to increase the share reserve under the 2018 Plan will further assist us in effectively competing in the competitive market for employee talent over the next year, subject to changes in our growth strategy while maintaining reasonable burn rates and overhang. • Our net burn rate ranged from 2.5% to 1.4% in the years 2022, 2023 and 2024, which we believe is appropriate and reasonable for the Company. • Our three-year average gross burn rate of 2.5% is below the estimated Institutional Shareholder Services global industry classification standard burn rate limit for our industry and for Russell 3000 Pharmaceuticals and Biotechnology companies of 5.94%. • The following table shows how the key equity metrics have changed over the past three fiscal years under the equity incentive plans:

| Key Equity Metrics                            |     | 2024 |      |   |     | 2023 |      |   |     | 2022 |      |   |     | 3-Year Average 
 (2022 - 2024)  |      |   |
| Shares subject to award granted (million) (1) |     |      |  1.7 |   |     |      |  2.4 |   |     |      |  2.8 |   |     |                |  2.3 |   |
| Gross burn rate (2)                           |     |      |  1.8 | % |     |      |  2.5 | % |     |      |  3.2 | % |     |                |  2.5 | % |
| Net burn