Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 97

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 97
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, and a time-based restricted stock award, which fully vested on June 26, 2021.

The restricted stock award and the Performance Option are both subject to clawback under circumstances set forth in the employment agreement. The Board does not anticipate granting Mr. Ingram additional annual equity incentive awards in the first eight years of his employment (after giving effect to the terms of the 2022 Letter Agreement, as defined below).

In April 2022, the compensation committee and Board approved a letter agreement with Mr. Ingram (the “2022 Letter Agreement”) that amended each of (i) the award agreement under which the Performance Option was originally granted (the “Performance Option Agreement”), (ii) the CIC Severance Agreement and (iii) Mr. Ingram’s employment agreement in advance of the expiration of the vesting period under the Performance Option Agreement. As part of the 2022 Letter Agreement, the compensation committee amended the Performance Option such that the unvested portion of it continues to be eligible to vest based on the achievement of the applicable performance-based vesting conditions over an additional three-year period ending June 26, 2025. The 2022 Letter Agreement amended the CIC Severance Agreement to provide for certain accelerated vesting with respect to the Performance Option in the event of a termination of Mr. Ingram’s employment by the Company other than for cause or his resignation of employment for good reason during a Change in Control Period (each such term as defined in the CIC Severance Agreement). The 2022 Letter Agreement also amended the employment agreement for consistency with the changes to the Performance Option Agreement and provides Mr. Ingram with continued

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vesting for the Performance Option in the event of a termination of his employment in certain prescribed circumstances.

Under his employment agreement, if Mr. Ingram’s employment is terminated as a result of death or disability, he will be entitled to payment of any accrued but unpaid salary, any earned but unpaid annual bonus, reimbursement of business expenses, accrued but unused vacation time, and similar benefits (his “Accrued Benefits”).

If Mr. Ingram’s employment is terminated as a result of non-renewal of the employment agreement, he will be entitled to payment of his Accrued Benefits and, subject to his execution and non-revocation of a release of claims, and consistent with the terms of the 2022 Letter Agreement, the Performance Option will continue to be eligible to vest for one year from the date of such termination, but in no