Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 45

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 45
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 to qualify as an “employee stock purchase plan” within the meaning of Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”). We believe that offering an employee stock purchase plan helps eligible employees provide for their future financial security, encourages such employees to remain in the employment of the Company and its subsidiaries, and further aligns their interests with those of our stockholders by increasing such employees' ownership in the Company. The 2016 Plan, as subsequently amended, is intended to qualify as an “employee stock purchase plan” meeting the requirements of Section 423 of the Code.

We do not believe that the shares of the Company’s common stock currently available for purchase under the 2016 ESPP are sufficient to continue offering shares for purchase under the plan until its expiration on April 22, 2029. In 2019, the Board adopted and our stockholders subsequently approved Amendment No. 1 to the 2016 ESPP, which increased the number of shares of our common stock authorized for issuance by 500,000 shares to 1,100,000 shares and extended its term until April 22, 2029. On April 6, 2023, the Board adopted, and stockholders approved on June 8, 2023, Amendment No. 2 which increased the number of shares of the Company’s common stock authorized for issuance under the 2016 ESPP by 300,000 shares to 1,400,000 shares. As of March 31, 2025, 173,001 shares of the Company’s common stock were available for purchase under the plan. Accordingly, on April 11, 2025, the Board approved, subject to stockholder approval, Amendment No. 3, which will increase the number of shares of the Company's common stock authorized for issuance under the 2016 ESPP by 300,000 shares to 1,700,000 shares. For information about equity awards outstanding under our existing equity plans and the number of shares available for issuance under such plans, each as of December 31, 2024, please see "Equity Compensation Plan Information" elsewhere in this Proxy Statement.

The full text of Amendment No. 3 is attached asAppendix Bto this Proxy Statement, the full text of the 2016 ESPP is set forth on Form 8-K filed on July 1, 2016, the full text of Amendment No. 1 to the 2016