Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 79

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 79
---
 Plan. The target value of these annual awards was based on market competitive targets using our peer group and was structured to align the long-term financial interests of our named executive officers with those of our stockholders. The options vest as follows: 25% of the shares of our common stock underlying such options vested on March 1, 2025, and 1⁄48th of the total shares of our common stock underlying such options will vest on each monthly anniversary thereafter, such that the options will be fully vested on March 1, 2028, subject to the named executive officer continuing to provide services to us through the applicable vesting date. The RSUs vest as follows: 25% of the shares of common stock underlying each RSU vested on March 1, 2025, and an additional 25% will vest on each anniversary of the grant date thereafter, such that the RSUs will be fully vested on March 1, 2028, subject to the named executive officer continuing to provide services to us through the applicable vesting date.

<div align='center'>54</div>

The annual awards are a meaningful incentive mechanism. The value that our named executive officers will realize with respect to these grants of equity awards is variable and at-risk. The stock options will only have value if the value of our common stock appreciates after grant. The RSUs focus on stock appreciation over a sustained period. In addition, the RSUs and options provide meaningful retention value by vesting over a four-year period. Mr. Ingram did not receive any equity awards in 2024. 2024 PSUs In March 2024, we also granted our named executive officers, except for Mr. Ingram, PSUs. The milestones for theses PSUs are described below and are a combination of important financial and operational objectives in line with our patient first mission. The Board feels that these milestones are critical to the overall objectives of the business and further link compensation value to the achievement of activities that have the potential to drive stockholder value. Each named executive officer, except for Mr. Ingram, received PSU grants of 12,500 shares. The target value of these awards was based on market competitive targets using our peer group. The PSUs contain four separate milestones, as described below. The maximum percentage of the PSUs that can become earned under the award based on the achievement of any combination of Milestone One, Two, Three and Four (each as defined below) is 125%. The PSUs are earned upon the