Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 74

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 74
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 a number of factors, including analyses of compensation of peers and other companies in the biopharmaceutical industry, analyses of reports from Aon, the satisfaction of (or failure to satisfy) previously-developed performance measurements for the named executive officers and the Company, and the value and size of the total vested and unvested equity grants held by each of the named executive officers.

A substantial portion of the 2024 target pay mix for each named executive officer is tied to our performance. This target pay mix was designed to better align the long-term interests of our named executive officers with those of our stockholders and to retain our executive talent.

We believe that the components and pay mix of our 2024 named executive officer compensation program achieved an appropriate balance between managing the Company’s hiring and retention needs and paying for performance that increases stockholder value.

Enhancing Compensation Practices with Stockholder Engagement and Feedback

We have consistently worked with our stockholders during recent years to obtain their feedback on our compensation practices. At our 2024 annual meeting, our say-on-pay proposal was approved by approximately 87% of stockholders entitled to vote. Despite this strong support, management and the Board have continued to discuss our compensation practices with stockholders, including stockholders that voted against the Company’s say-on-pay proposals in previous years.

Our Chairwoman and Chairman of the compensation committee engage with stockholders on topics of interest to them on an annual basis, regardless of the outcome of the say-on-pay advisory vote. Based on stockholder feedback, we made a series of changes over the last several years to enhance our compensation practices and policies. Below are some highlights of the changes we have made to our compensation practices, policies and disclosures:

Increased Focus on “At-risk” Awards. Beginning in 2022, the compensation committee granted PSUs to our executive officers (other than Mr. Ingram due to his outstanding performance-based stock option awards). In 2024, as previously disclosed, the compensation committee allocated approximately 50% of the long-term incentive opportunity to PSUs, continuing the increases in such proportion in recent years. The terms of the PSU awards reflected a mix of financial and key program milestones. In addition to providing retention value, the PSU awards are viewed by our compensation committee as a tool that further aligns our named executive officers interests with those of our stockholders, as the milestones used in the PSUs have the potential to bring significant value to stockholders both in the short and long-term.

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Appropriate Balance