SEC Form 4 · accession 0001209191-16-104913
Sarepta Therapeutics, Inc. · SRPT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward M. Kaye M.D.
Officer — SVP Interim CEO & CMO
Period of report
Feb 29, 2016
Accepted (ET)
Mar 2, 2016 · 8:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000873303
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 29, 2016 | A | 4,704 | $0.00 | D | 109,029 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (right to buy)F3 | $13.71 | Feb 29, 2016 | A | 4,574 | A | — | Feb 28, 2026 | Common Stock | 4,574 | 4,574 | D |
| Non- Qualified Stock Option (right to buy)F3 | $13.71 | Feb 29, 2016 | A | 95,426 | A | — | Feb 28, 2026 | Common Stock | 95,426 | 95,426 | D |
| Incentive Stock Option (right to buy)F4 | $13.71 | Feb 29, 2016 | A | 1,389 | A | — | Feb 28, 2026 | Common Stock | 1,389 | 1,389 | D |
| Non- Qualified Stock Option (right to buy)F4 | $13.71 | Feb 29, 2016 | A | 98,611 | A | — | Feb 28, 2026 | Common Stock | 98,611 | 98,611 | D |
Explanation of responses
- F1100% of the Restricted Stock Award granted on February 29, 2016 vests six months from the date of grant. This award is being provided in lieu of a portion of the executive's cash bonus and is subject to continued service with the Issuer.
- F2Includes shares acquired under the Sarepta Therapeutics, Inc. 2013 Employee Stock Purchase Plan, 800 shares were acquired on February 29, 2016 at a price of $11.4665.
- F325% of the option granted vests and is exercisable on the first anniversary of the date of grant and 1/48th of the total granted option will vest and become exercisable on each monthly anniversary thereafter, such that the option will be fully vested and exercisable on the fourth anniversary of the date of grant.
- F4Half of the options begin vesting in the event the FDA provides marketing approval for eteplirsen as of the applicable PDUFA date and the other half of the options begin vesting in the event Sarepta files a Marketing Authorization Application with the EMEA prior to December 31, 2016. Vesting of the options allocated to the achievement of each goal is as follows: (i) 50% of the options allocated to the achieved goal vests immediately upon achievement of the performance condition (25% of the total Performance-Based Options granted) and (ii) the remaining 50% of the options allocated to the achieved goal (25% of the total Performance-Based Options granted) vests over four years with 25% of these remaining options vesting on the first year anniversary of the grant date and 1/48th of these remaining options vesting monthly thereafter.