Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 43

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 43
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 officers for that tax year (collectively, “covered employees”) and for any individual who was a covered employee of the Company during tax years beginning in 2017. Under Section 162(m) of the Code, the annual compensation paid to any covered employee will be deductible only to the extent that it does not exceed $1,000,000. The Administrator has discretionary authority to grant Awards under the 2018 Plan that are not deductible by us.

Additionally, under the so-called “golden parachute” provisions of Section 280G of the Code, the accelerated vesting of options and benefits paid under other Awards in connection with a change of control of a corporation may be required to be valued and taken into account in determining whether participants have received compensatory payments contingent on the change of control, in excess of certain limits. If these limits are exceeded, a portion of the amounts payable to the participant may be subject to an additional 20% federal tax and may be nondeductible by the Company.

Amendment and Termination of the 2018 Plan and Prohibition on Re-Pricing or Exchange of Awards without Stockholder Approval

The 2018 Plan will continue in effect for ten years from the date of its adoption, unless terminated at an earlier time by the Administrator. The Administrator generally may amend or terminate the 2018 Plan at any time and for any reason; provided, however, that the Administrator cannot re-price or otherwise exchange options or SARs under the 2018 Plan for Awards with lower exercise or base prices without stockholder approval. Further, the Administrator may not amend the 2018 Plan without stockholder approval to the extent that stockholder approval is required under applicable laws.

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Grants of Equity Compensation under the 2018 Plan The amount, if any, of equity compensation to be awarded to officers, directors, employees and consultants is determined from time to time by the compensation committee or the Board, as applicable, and the future awards to be made under the 2018 Plan, if Amendment No. 4 to the 2018 is approved, are not presently determinable. The table below sets forth grants of stock options and other stock awards made during fiscal year 2024 under the 2018 Plan. Awards granted under our 2024 Employment Commencement Incentive Plan during the period are not included below.

| Name                                                                                 |     | Title                                         |     | Options |         |     | Awards |           |     |    |
| Douglas S