SEC Form 4 · accession 0001209191-17-042164
Sarepta Therapeutics, Inc. · SRPT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas S Ingram
Officer — President & CEO · Director
Period of report
Jun 26, 2017
Accepted (ET)
Jun 28, 2017 · 5:50 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 | Jun 26, 2017 | A | 335,000 | $0.00 | A | 335,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2,F3 | $34.65 | Jun 26, 2017 | A | 3,300,000 | A | — | Jun 26, 2027 | Common Stock | 3,300,000 | 3,300,000 | D |
Explanation of responses
- F1Represents shares of restricted stock. Twenty-five percent of the shares will vest on June 26, 2018 and one thirty-sixth of the remaining unvested shares will vest on each monthly anniversary of June 26 thereafter, ending on June 26, 2021, in each case subject to the Reporting Person's continued service to the Issuer or a subsidiary thereof from the date of grant through each applicable vesting date.
- F2On June 26, 2022, subject to the Reporting Person's continued service to the Issuer or a subsidiary thereof from the date of grant through such date, a percentage of the stock options will vest based on the extent to which the compounded annual growth rate ("CAGR") of the Issuer's stock price from June 26, 2017 (based on the closing price on such date) through June 26, 2022 (based on the average of the closing price of the Issuer's common stock on the 20 days immediately preceding such date) exceeds the CAGR of the NASDAQ Biotech Index (or any successor index) during the same period.
- F3In certain situations, the stock options will expire within twelve months of such situation, but in no event will the stock options be exercisable after June 26, 2027.