SEC Form 3 · accession 0001209191-16-143450
Sarepta Therapeutics, Inc. · SRPT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joan Wood
Officer — VP, Human Resources
Period of report
Sep 20, 2016
Accepted (ET)
Sep 30, 2016 · 9:55 pm EDT
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,F3 | holding | — | — | — | 14,926 | 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)F4 | $13.71 | holding | — | — | — | Feb 28, 2017 | Feb 28, 2026 | Common Stock | 15,279 | — | D |
| Incentive Stock Option (right to buy)F5 | $13.71 | holding | — | — | — | Feb 28, 2017 | Feb 28, 2026 | Common Stock | 14,793 | — | D |
| Non-Qualified Stock Option (right to buy)F4 | $13.71 | holding | — | — | — | Feb 28, 2017 | Feb 28, 2026 | Common Stock | 4,721 | — | D |
| Non-Qualified Stock Option (right to buy)F5 | $13.71 | holding | — | — | — | Feb 28, 2017 | Feb 28, 2026 | Common Stock | 5,207 | — | D |
| Non-Qualified Stock Option (right to buy)F6 | $15.04 | holding | — | — | — | May 11, 2016 | May 11, 2025 | Common Stock | 58,500 | — | D |
Explanation of responses
- F1Includes 13,125 Restricted Stock Awards vest upon the Company exceeding $80 million in total revenue reported in publicly released GAAP financials, in any fiscal quarter between grant date and June 30, 2018, with an additional 3,825 RSAs vesting during the same period if the total revenue reported in the publicly released GAAP financials exceeds $100 million. The Company will withhold the shares to satisfy the executive's tax obligation upon vesting.
- F2Includes 342 Restricted Stock Awards granted on September 19, 2016 which vests 100% six months from the date of grant. The Company will withhold the shares to satisfy the executive's tax obligation upon vesting.
- F3Includes shares acquired under the Sarepta Therapeutics, Inc. 2013 Employee Stock Purchase Plan, 800 shares were acquired at a price of $11.4665.
- 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.
- F525% 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.
- F6This option is exercisable at the rate of 25% of the shares on the first anniversary of hire and 1/48th of the total granted shares on each monthly anniversary thereafter, such that the option will be fully exercisable on the fourth anniversary of hire.