Company: SRPT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058003
Chunk: 68

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 68
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 and 75th percentiles of our peer group, which is the same peer group used for executive compensation purposes, as described in more detail below in ourCompensation, Discussion and Analysissection, but aggregate cash compensation paid was positioned at the peer 50th percentile as a result of our board size. In February 2024, the Board approved an increase to the cash compensation for service on our Board, as chair of our Board, and as chair of our nominating and corporate governance committee, as well as for service on our nominating and corporate governance and research and development committees based in part on peer group market data and continued Company growth.

Stock-Based Compensation

Initial Grants. Pursuant to the Director Compensation Policy, each individual who is first elected, or appointed, as a non-employee member of the Board is automatically granted an initial grant with an aggregate grant date fair value of approximately $712,500, divided equally into RSUs and an option to purchase shares of the Company’s common stock (the “Initial Option”). The exercise price of the Initial Option will equal the closing sales price of the Company’s common stock as reported by The Nasdaq Global Select Market on the date of grant. The RSUs and the Initial Option vest in three equal annual installments beginning on the one-year anniversary of the grant, subject to continued service to the Board.

Annual Option and RSU Awards. Pursuant to the Director Compensation Policy, our non-employee directors received an annual equity grant with an aggregate grant date fair value of approximately $475,000; this target grant date fair value falls approximately at the 75th percentile of the grant date value of equity-based remuneration awarded to directors of companies in our peer group, but aggregate annual equity compensation falls approximately at the 50th percentile as a result of our board size. The Board determined that the annual equity compensation was appropriate considering our board size, the degree of Board involvement and the high frequency of Board meetings. This annual equity grant was divided equally between an option to purchase shares of the Company’s common stock (the “Annual Option”) and an RSU award, based on the closing sales price of the Company’s common stock as reported by The Nasdaq Global Select Market on the date of grant. The Annual Option and the RSUs vest in full on the one-year anniversary of the grant date, provided that the non-employee director continues to serve as a director until such date.

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The following table sets forth 2024 compensation information for the