Form 8-K

8-K — Sarepta Therapeutics, Inc.

Accession: 0001193125-26-316995

Filed: 2026-07-27

Period: 2026-07-23

CIK: 0000873303

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — d101719d8k.htm (Primary)

EX-10.1 (d101719dex101.htm)

EX-10.2 (d101719dex102.htm)

EX-99.1 (d101719dex991.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d101719d8k.htm · Sequence: 1

8-K

false 0000873303 0000873303 2026-07-23 2026-07-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2026

Sarepta Therapeutics, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-14895

93-0797222

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

215 First Street

Cambridge, Massachusetts

02142

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (617) 274-4000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, par value $0.0001 per share

SRPT

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 23, 2026, the Board of Directors (the “Board”) of Sarepta Therapeutics, Inc. (the “Company”) appointed Michael Severino, M.D. as Chief Executive Officer of the Company, effective July 28, 2026 (the “Effective Date”). Also on July 23, 2026, the Board appointed Dr. Severino, effective as of the Effective Date, as a Class I director, to serve until the Company’s 2028 annual meeting of stockholders. Dr. Severino will succeed Douglas Ingram, the Company’s current Chief Executive Officer. Mr. Ingram will depart from his position as Chief Executive Officer and a member of the Board as of the Effective Date. Mr. Ingram and the Company entered into a Consulting Agreement, dated July 26, 2026 (the “Consulting Agreement”), pursuant to which he will serve as consultant to the Company until December 31, 2026 in exchange for a monthly consulting fee of $15,000.

Dr. Severino, age 60, most recently served as Chief Executive Officer and a member of the board of directors of Tessera Therapeutics, Inc., a clinical-stage biotechnology company, and as a CEO-Partner at Flagship Pioneering from June 2022 to July 2026. Prior to that, Dr. Severino served as the Vice Chairman and President of AbbVie Inc., a pharmaceutical company, from December 2018 until June 2022, where he was responsible for research and development and oversaw corporate strategy. At AbbVie, he also served as Executive Vice President of Research and Development, Chief Scientific Officer. Prior to joining AbbVie, Dr. Severino served in roles of increasing responsibility at Amgen, Inc., leading to his appointment as Senior Vice President, Global Development and Chief Medical Officer. Dr. Severino received his M.D. from the Johns Hopkins University and his Bachelor of Science degree from the University of Maryland. Dr. Severino currently serves on the board of directors of Viatris Inc., where he is chair of its science and technology committee and a member of its audit committee, and on the board of directors of Avantor, Inc. where he is chair of its compensation and human resources committee.

In connection with the appointment of Dr. Severino as Chief Executive Officer, Dr. Severino and the Company entered into an Employment Agreement dated July 24, 2026, which sets forth the terms and conditions of his employment with the Company (the “Employment Agreement”). Pursuant to the Employment Agreement, Dr. Severino will be employed for an initial term of three (3) years, with automatic one (1)-year renewals thereafter subject to either party’s right to elect not to renew by providing sixty (60) days’ advance notice. Under the Employment Agreement, Dr. Severino is entitled to receive an annual base salary of $1,180,000 and will be eligible to participate in the Company’s bonus program with a target bonus of 110% of base salary. For 2026, Dr. Severino’s annual bonus will be paid based on performance at 100% of target and prorated based on his period of employment with the Company during the year.

In connection with Dr. Severino’s appointment as Chief Executive Officer, Dr. Severino will receive a sign-on grant of equity awards under the Company’s 2024 Employment Commencement Incentive Plan with a grant date value approximately equal to $35,000,000 (the “Sign-On Grant”). The Sign-On Grant is composed of (i) a 2026 annual equity grant with a grant date value approximately equal to $6,000,000, which represents a prorated grant for 2026, (ii) a 2027 annual equity grant with a grant date value approximately equal to $12,000,000, (iii) a new hire equity grant with a grant date value approximately equal to $3,000,000, and (iv) a make-whole equity grant with a grant date value approximately equal to $14,000,000 to compensate the Dr. Severino for relinquished equity awards from his prior employer (the “Make-Whole Grant”). The Sign-On Grant shall be made in the form of (y) restricted stock units, constituting approximately one-third of the grant date value of the Sign-On Grant, which vest in substantially equal installments on an annual basis over four years from the date of grant, generally subject to continued employment, and (z) premium priced stock options, constituting approximately two-thirds of the grant date value of the Sign-On Grant, which vest as to 25% of the options on the first anniversary of the date of grant, with monthly vesting in substantially equal installments thereafter over the next three years, generally subject to continued employment. In light of the inclusion of a 2027 annual equity grant in the Sign-On grant, Dr. Severino is not expected to receive a further annual equity grant in 2027.

Under the Employment Agreement, upon an involuntary termination of employment without Cause, including a non-renewal of the employment term by the Company, or a voluntary termination of employment for Good Reason (each as defined in the Employment Agreement and such termination, a “qualifying termination”), in each case not in the period beginning six-months before and ending 24 months following a change of control (the “change of control period”), Dr. Severino is entitled to (i) 18 months of base salary payable in the form of salary continuation,

(ii) his target annual bonus for the year of termination, payable over the 18-month severance term, (iii) any earned but unpaid annual bonus for the year prior to the year of termination, (iii) a pro-rata annual bonus based upon actual performance and paid at the same time bonuses are paid to other Company executives (a “Pro-Rata Bonus”), (iv) payment by the Company of the employer cost of COBRA for up to 18 months, and (v) outplacement services at a value not to exceed $20,000. Dr. Severino is also entitled to full acceleration of the Make-Whole Grant, to the extent unvested at the time of termination, and 12 months’ accelerated vesting of the Sign-On Grant. In the event of a qualifying termination during the change of control period, Dr. Severino is entitled to the foregoing benefits, as modified to reflect basic severance of 24 months of base salary and two times target bonus, in each case payable in a lump sum, a Pro-Rata Bonus based on target performance and payable in a lump sum following termination, and full acceleration of all of his outstanding and unvested time-based equity awards, including the Sign-On Grant. The receipt of the foregoing severance benefits is subject to Dr. Severino executing a separation agreement containing a general release of claims and other customary terms.

Pursuant to the Employment Agreement, Dr. Severino has agreed to a perpetual confidentiality covenant and an assignment of intellectual property covenant and has agreed not to compete with the Company or solicit certain of the Company’s service providers, customers, and suppliers during employment and for a period of 12 months following termination of his employment.

There is no arrangement or understanding between Dr. Severino and any other person pursuant to which he was appointed Chief Executive Officer of the Company. There are no transactions involving Dr. Severino requiring disclosure under Item 404(a) of Regulation S-K.

The foregoing summaries of the Employment Agreement and Consulting Agreement do not purport to be complete and are qualified in their entirety by reference to the Employment Agreement and Consulting Agreement, copies of which are attached hereto as Exhibit 10.1 and 10.2, respectively, and are incorporated herein by reference.

Item 7.01

Regulation FD Disclosure

The Company issued a press release in connection with the announcement of Dr. Severino’s appointment as Chief Executive Officer, a copy of which is furnished herewith as Exhibit 99.1.

All of the information included in this Item 7.01 and the accompanying exhibit is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits

Exhibit

Number

Description

10.1

Employment Agreement, dated July 24, 2026, by and between Michael Severino and Sarepta Therapeutics, Inc.

10.2

Consulting and Advisory Agreement, dated July 26, 2026, by and between Douglas Ingram and Sarepta Therapeutics, Inc.

99.1

Press release announcing the appointment of Michael Severino as Chief Executive Officer, issued by Sarepta Therapeutics, Inc. on July 27, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Sarepta Therapeutics, Inc.

Date: July 27, 2026

By:

/s/ Cristin L. Rothfuss

Name:

Cristin L. Rothfuss

Title:

Executive Vice President, General Counsel

EX-10.1

Filename: d101719dex101.htm · Sequence: 2

EX-10.1

Exhibit 10.1

EMPLOYMENT AGREEMENT

This

EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of July 24, 2026 by and between Sarepta Therapeutics, Inc. (the “Company”) and Michael Severino, M.D. (the

“Executive”), and is effective as of July 28, 2026 (the “Effective Date”).

WHEREAS, the

Executive possesses certain experience and expertise that qualifies him to provide the direction and leadership required by the Company; and

WHEREAS, the Company desires to employ the Executive as Chief Executive Officer of the Company and the Executive wishes to accept such

employment;

NOW, THEREFORE, in consideration of the mutual covenants contained herein and intending to be legally bound hereby, the

Company and the Executive agree as follows:

1. Position and Duties; Term.

(a) Effective as of the Effective Date, the Executive will be employed by the Company, on a full-time basis, as its Chief Executive Officer

(“CEO”). In addition, the Executive will be appointed as a member of the Company’s Board of Directors (the “Board”) effective as of the Effective Date and, for as long as the Executive is employed by the

Company as its CEO, at each applicable annual meeting of the Company’s shareholders, the Executive shall be nominated to serve and, if so elected by the Company’s shareholders, shall serve as a member of the Board without further

compensation. The Executive will also serve from time to time if requested as a director or officer of one or more of the Company’s Affiliates, without further compensation.

(b) During the Employment Term (as defined below), the Executive agrees to perform the duties of his position and such other duties as may

reasonably be assigned to the Executive by the Board from time to time. The Executive shall report to the Board. The Executive also agrees that, while employed by the Company, he will devote his full business time and his best efforts, business

judgment, skill and knowledge exclusively to the advancement of the business interests of the Company and its Affiliates and to the discharge of his duties and responsibilities for them and will not engage in any other business activity or serve in

any industry, trade, professional, governmental, political, charitable or academic position. The foregoing notwithstanding, the Executive will be permitted to continue to serve on two (2) other for profit board of directors on which he

currently serves and has disclosed to the Board; provided that he will resign from one such board no later than the Company’s next annual proxy submission, and further provided that such service does not pose a conflict of interest to the

Company or violate any of his obligations to the Company, including under the Restrictive Covenant Agreement (as defined below). The Executive further agrees that he will perform his duties primarily in Cambridge, Massachusetts but that the Board

expects that the Executive will travel as necessary for business needs.

Company policies, practices and procedures and all codes of ethics or business conduct applicable to his position, as in effect from time to time.

(d) The Company agrees to employ the Executive under and pursuant to the terms of this Agreement, and the Executive agrees to be so employed,

for an initial term of three years (the “Initial Term”) commencing as of the Effective Date. At the conclusion of the Initial Term, and on each anniversary of the Effective Date following the Initial Term, the term of this

Agreement shall be automatically renewed for successive one-year periods; provided, however, that either party hereto may elect not to renew the term of this Agreement by giving written notice to

the other party at least sixty (60) days prior to any such date. Notwithstanding the foregoing, the Executive’s employment hereunder may be terminated prior to the end of the then-current Employment Term (as defined below) in accordance

with Section 4 hereof, subject to Section 5 hereof. The period of time between the Effective Date and the termination or expiration of the term of this Agreement shall be referred to herein as the “Employment Term.” The

Executive’s employment hereunder shall at all times be on an at-will basis.

Compensation and Benefits. During the Executive’s employment hereunder, as compensation for all services performed by the Executive for the Company and its Affiliates, the Company will provide the Executive the following compensation

and benefits:

(a) Base Salary. The Company will pay the Executive an annual base salary at the rate of $1,180,000 per year, payable

in accordance with the regular payroll practices of the Company (the base salary, as determined from time to time, the “Base Salary”), prorated for 2026. The Base Salary will be reviewed annually by the Board or the Compensation

Committee thereof (the “Committee”). The Base Salary may not be reduced, except in the case of an across the board salary reduction for executives.

(b) Bonus Compensation. For each fiscal year completed during the Employment Term, the Executive will be eligible to earn an annual

bonus (each, an “Annual Bonus”). The Executive’s target Annual Bonus will be 110% of the Base Salary, with the actual amount of any such Annual Bonus to be determined by the Board or the Committee in its discretion, based on

achievement against performance goals established by the Board or the Committee. For 2026, the Executive’s Annual Bonus will be paid based on 100% of target and prorated based on his period of employment with the Company during such fiscal

year from the Effective Date. In order to receive any Annual Bonus hereunder, the Executive must be employed through the date that such Annual Bonus is paid, except as provided in Section 5 below.

(i) Annual Grants. Commencing in 2028, the Executive shall be eligible for stock and other equity-based incentive compensation awards

under the Company’s 2026 Equity Incentive Plan, as it may be amended or superseded from time to time (the “Stock Plan”). The target grant date value of each annual grant shall be $12,000,000; it being understood that the

decision to make an annual grant and the actual grant date value of any such grant are subject in all cases to the discretion of, and review and approval by, the Board or the Committee.

(ii) Sign-On Grant. In addition, as an

inducement material to the Executive’s commencement of employment with the Company, subject to the approval by the Board or the Committee, the Executive shall be eligible to receive a sign-on grant of

equity awards upon commencement of service as CEO, with such grant to have a grant date value approximately equal to $35,000,000 (the “Sign-On Grant”), composed of (A) a 2026 annual

equity grant with a grant date value approximately equal to $6,000,000, which represents a prorated amount for 2026, (B) a 2027 annual equity grant with a grant date value approximately equal to $12,000,000, (C) a new hire equity grant with a grant

date value approximately equal to $3,000,000, and (D) a make-whole equity grant with a grant date value approximately equal to $14,000,000 to compensate the Executive for relinquished equity awards from his prior employer (the

“Make-Whole Grant”). The Sign-On Grant shall be made under the Company’s 2024 Employment Commencement Incentive Plan (the “Inducement Plan”) in the form of

(y) restricted stock units, constituting approximately one-third of the grant date value of the Sign-On Grant and evidenced by an award agreement approved by the

Committee, which vest in substantially equal installments on an annual basis over four years from the date of grant, generally subject to continued employment, and (z) premium priced stock options, constituting approximately two-thirds of the grant date value of the Sign-On Grant, with such value determined by a Black-Scholes valuation based on the Company’s stock price on the date of grant,

evidenced by an award agreement approved by the Committee, and issued with an exercise price at a 15% premium to the Company’s closing stock price on the date of grant, which vest as to 25% of the options on the first anniversary of the date

of grant, with monthly vesting in substantially equal installments thereafter over the next three years, generally subject to continued employment. In the event of a conflict between the terms of this subsection (ii) and the terms of the

Inducement Plan or any award agreement evidencing the Sign-On Grant, such plan or award agreement shall control.

(d) Participation in Employee Benefit Plans. The Executive will be entitled to participate in all employee benefit plans from time to

time in effect for employees of the Company generally, except to the extent such plans are duplicative of benefits otherwise provided to the Executive under this Agreement (e.g., a severance pay plan). The Executive’s participation will be

subject to the terms of the applicable plan documents and generally applicable Company policies, as the same may be in effect from time to time, and any other restrictions or limitations imposed by law.

(e) Vacations. The Executive will be entitled to earn vacation days in accordance with the policies of the Company, as in effect from

time to time. Vacation may be taken at such times and intervals as the Executive shall determine, subject to the business needs of the Company.

(f) Business Expenses. The Company will pay or reimburse the Executive for all reasonable business expenses incurred or paid by the

Executive in the performance of his duties and responsibilities for the Company, subject to any maximum annual limit and other restrictions on such expenses set by the Company and to such reasonable substantiation and documentation as may be

specified by the Company from time to time. The Company shall also reimburse the Executive for all reasonable legal fees actually incurred by the Executive in the negotiation and review of this Agreement, in an amount not to exceed $10,000 in the

aggregate.

3. Confidential Information and Restricted Activities. The Executive agrees that he

will be subject to the confidentiality, assignment of rights, restrictive covenant and other obligations set forth in Exhibit A attached hereto (the “Restrictive Covenant Agreement”).

4. Termination of Employment. The Executive’s employment under this Agreement shall continue until terminated pursuant to this

Section 4. Upon any termination of the Executive’s employment, the Executive agrees to resign from: (i) all officer positions that he holds with the Company or its Affiliates, including as CEO, and (ii) membership on the Board

and from membership on any other boards of directors, boards of managers or other governing boards or bodies of the Company or its Affiliates.

(a) By the Company For Cause. The Company may terminate the Executive’s employment for Cause upon notice to the Executive setting

forth in reasonable detail the nature of the Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of any of the following, as determined by the Board in its reasonable judgment: (i) the Executive’s

substantial and repeated failure to perform in good faith the Executive’s duties or follow the reasonable and legal written direction of the Board (after the Board has provided the Executive with written notice of such failure and the

Executive has failed to cure, to the extent curable, such failure within ten business days of the Executive’s receipt of such notice); (ii) the Executive’s willful material misconduct with respect to any material aspect of the business

of the Company; (iii) the Executive’s conviction of or pleading of guilty or nolo contendere to, a felony or any crime involving moral turpitude; (iv) the Executive’s performance of any material act of theft or fraud in

connection with the performance of the Executive’s duties to the Company; or (v) a material breach of this Agreement, the Restrictive Covenant Agreement, or any other written restrictive covenant or other agreement between the Executive

and the Company, or a material violation of the Company’s code of conduct or other written material policy of the Company (after the Company has provided the Executive with written notice of such breach or violation and the Executive has

failed to cure, to the extent curable, such breach or violation within 10 days after the Executive’s receipt of such notice).

(b)

By the Company Without Cause. The Company may terminate the Executive’s employment at any time other than for Cause upon notice to the Executive.

(c) By the Executive for Good Reason. The Executive may terminate his employment for Good Reason, provided that (i) the Executive

provides written notice to the Company, setting forth in reasonable detail the nature of the condition giving rise to Good Reason, within ninety (90) days of the initial existence of such condition, (ii) the condition remains uncured by

the Company for a period of thirty (30) days following such notice and (iii) the Executive terminates his employment, if at all, not later than sixty (60) days after the expiration of such cure period. For purposes of this Agreement,

“Good Reason” shall mean the occurrence of any of the following adverse employment actions without the Executive’s consent: (i) a material diminution in the Executive’s Base Salary or target Annual Bonus, in each

case, as in effect immediately prior to the diminution; (ii) a material diminution in the Executive’s duties, authority or responsibilities (other than temporarily while physically or mentally incapacitated or as required by applicable

law); (iii) a change by the Company in the location at which the Executive performs the Executive’s principal duties for the Company to a new location that is more than thirty (30) miles from Cambridge, Massachusetts; or (iv) a

material breach by the Company of this Agreement or any equity award agreement.

(d) By the Executive Without Good Reason. The Executive may terminate his employment

without Good Reason at any time upon sixty (60) days’ notice to the Company. The Board may elect to waive such notice period or any portion thereof.

(e) Death and Disability. The Executive’s employment hereunder shall automatically terminate in the event of the Executive’s

death during employment. The Company may terminate the Executive’s employment, upon notice to the Executive, in the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of

either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and responsibilities hereunder (notwithstanding the provision of any reasonable accommodation) for a period of ninety (90) days

during any period of three hundred sixty-five (365) consecutive days. If any question shall arise as to whether the Executive is disabled to the extent that he is unable to perform substantially all of his duties and responsibilities for the

Company and its Affiliates, the Executive shall, at the Company’s request, submit to a medical examination by a physician selected by the Company to whom the Executive or the Executive’s guardian, if any, has no reasonable objection to

determine whether the Executive is so disabled, and such determination shall for purposes of this Agreement be conclusive of the issue. If such a question arises and the Executive fails to submit to the requested medical examination, the

Company’s good faith, reasonable determination of the issue shall be binding on the Executive.

(f) End of Employment Term.

The Executive’s employment will be terminated upon a non-renewal of the Employment Term by either party as prescribed in Section 1(d). A non-renewal of the

Agreement by the Company shall constitute a termination of the Executive’s employment by the Company without Cause under Section 4(b) above for which the Executive will be entitled to the benefits under Section 5(b) of the Agreement,

and a non-renewal of the Agreement by the Executive shall constitute a termination of the Executive’s employment by the Executive Without Good Reason.

5. Other Matters Related to Termination.

(a) Final Compensation. In the event of termination of the Executive’s employment with the Company, howsoever occurring, the

Company shall pay the Executive (i) the Base Salary for the final payroll period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as

of the date his employment terminates; and (iii) reimbursement, in accordance with Section 2(f) hereof, for business expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided

that the Executive submits all expenses and supporting documentation required within sixty (60) days of the date his employment terminates, and provided further that such expenses are reimbursable under Company policies then in effect (all of

the foregoing, “Final Compensation”). Except as otherwise provided in Section 5(a)(iii), Final Compensation will be paid to the Executive within thirty (30) days following the date of termination or such shorter period

required by law. In

addition to the Final Compensation, to the extent that the Executive’s employment ends due to his death or disability as set forth in Section 4(e) above, the Company shall pay to the

Executive or his estate, as the case may be, any Annual Bonus not yet paid at the time of termination for the fiscal year immediately preceding the fiscal year during which such termination occurs, determined in accordance with Section 2(b) of

this Agreement and provided that the Executive was employed through the final day of such immediately preceding fiscal year (the “Prior Year Bonus”), payable at the time such bonus would have been paid if the Executive were still

employed with the Company.

(b) Severance Payments.

(i) In the event of any termination of the Executive’s employment pursuant to Section 4(b) or Section 4(c) above, or in

connection with a non-renewal of this Agreement by the Company, in each case outside of the Change in Control Period (as defined below), the Company will pay or provide to the Executive, in addition to Final

Compensation: (A) the Base Salary for a period of eighteen (18) months following the date of termination (the “Severance Term”), payable in the form of salary continuation (the “Basic Severance”); (B)

an amount equal to one-times the Executive’s target Annual Bonus for the year of termination, payable over the Severance Term (the “Severance Bonus”); (C) any Prior Year Bonus, payable

at the time such bonus would have been paid if the Executive were still employed with the Company; (D) any Annual Bonus for the fiscal year during which termination occurs, determined in accordance with Section 2(b) of this Agreement and pro-rated based on the number of days the Executive was employed with the Company during such fiscal year (the “Pro-Rata Bonus”), payable at the time such

bonus would have been paid if the Executive were still employed with the Company; (E) provided that the Executive timely elects continuation of health coverage pursuant to Section 601 through 608 of the Employee Retirement Income Security

Act of 1974, as amended (“COBRA”), a monthly amount equal to the monthly health premiums for such coverage paid by the Company on behalf of the Executive and any eligible dependents immediately prior to the date that the

Executive’s employment terminates until the earlier of (x) the end of the Severance Term, (y) the date that the Executive and the Executive’s eligible dependents cease to be eligible for such COBRA coverage under applicable law

or plan terms and (z) the date on which the Executive obtains health coverage from another employer (the “Health Continuation Benefits”); (F) outplacement services at a level commensurate with the Executive’s position

in accordance with the Company’s practices as in effect from time to time provided that the cost of such outplacement shall not exceed $20,000 (the payments and other benefits described in subsections (A)-(F), the “Severance

Payments”); (G) to the extent unvested as of the date of termination, the Make-Whole Grant shall automatically vest in full; and (H) the Sign-On Grant shall automatically vest as to that portion

of the shares underlying the Sign-On Grant that would have vested if the Executive had remained in employment with the Company for an additional twelve (12)-month period following the date of termination.

Notwithstanding the foregoing, in the event that the Company’s payment or reimbursement under this Section 5(b)(i) would subject the Executive or the Company to any tax or penalty under the Patient Protection and Affordable Care Act (as

amended from time to time, the “ACA”) or Section 105(h) of the Internal Revenue Code of 1986, as amended (“Section 105(h)”), or applicable regulations or guidance issued under the ACA or

Section 105(h), the Executive and the Company agree to work together in good faith, consistent with the requirements for compliance with or exemption from Section 409A, to restructure such benefit.

(ii) Notwithstanding subsection (i) above, in the event of any termination of the

Executive’s employment pursuant to Section 4(b) or Section 4(c) above, or in connection with a non-renewal of this Agreement by the Company, in each case during the Change in Control Period (as

defined below), the Executive will be entitled to (A) the Severance Payments, as modified to reflect (x) Basic Severance equal to twenty-four (24) months of the Base Salary, (y) a Severance Bonus equal to two-times the Executive’s target Annual Bonus for the year of termination, and (z) the Pro-Rata Bonus is based on target performance, in each case, together with

the Prior Year Bonus, payable in a lump sum not later than sixty (60) days following the date of termination, and (B) with respect to each outstanding equity award subject to time-based vesting, including, without limitation, the Sign-On Grant, to the extent unvested, automatic full vesting of the shares subject to such awards. The term “Change in Control Period” shall mean the period beginning six (6) months prior to

(but only if the termination of the Executive’s employment was made at the direction of the acquiror in the Change in Control or otherwise was directly related to the Change in Control), and continuing for twenty-four (24) months

immediately following the consummation of a Change in Control. In the event of a termination of the Executive’s employment pursuant to Section 4(b) or Section 4(c) above that occurs in the period beginning six (6) months prior

to the consummation of a Change in Control, the Executive shall be entitled to receive the payments described in subsection (i) above and, if and only if a Change in Control occurs within such six (6)-month period and the termination of the

Executive’s employment was made at the direction of the acquiror in the Change in Control or otherwise was directly related to the Change in Control, shall receive the payments and benefits under this subsection (ii) upon such Change in

Control (minus any amounts received under subsection (i) above and without any double counting of severance payments or benefits). Payments under this subsection (ii) shall only be made in a lump sum if such payment complies with

Section 409A (as defined below); if not, payment will be in the same form as provided in subsection (i) above.

To And Timing Of Severance Payments. Any obligation of the Company to provide the Executive the Severance Payments is conditioned on his signing and returning, without revoking, to the Company a timely and effective separation agreement

containing a general release of claims and other customary terms, including restrictive covenant obligations substantially similar to those set forth in Exhibit A, in the form provided to the Executive by the Company at the time that the

Executive’s employment terminates (the “Separation Agreement”). The Separation Agreement must become effective, if at all, by the sixtieth (60th) calendar day following the date the Executive’s employment terminates.

To the extent that any Severance Payments to which the Executive is entitled are payable in the form of salary continuation, the first such payment will be made on the Company’s next regular payday following the expiration of sixty

(60) calendar days from the date that the Executive’s employment terminates, but will be retroactive to the day following such date of termination.

(d) Benefits Termination. Except as described in Section 5(b)(i)(E) and any additional right the Executive may have under COBRA or

other applicable law to continue participation in the Company’s group health and dental plans at his cost, the Executive’s participation in all employee benefit plans shall terminate in accordance with the terms of the applicable benefit

plans based on the date of termination of his employment, without regard to any continuation of the Base Salary or other payment to the Executive following termination of his employment, and the Executive shall not be eligible to earn vacation or

other paid time off following the termination of his employment.

(e) Survival. Provisions of this Agreement shall survive any termination of

employment if so provided in this Agreement or if necessary or desirable to accomplish the purposes of other surviving provisions, including without limitation the Executive’s obligations under Exhibit A of this Agreement. The

obligation of the Company to make payments to the Executive under Section 5(b), and the Executive’s right to retain the same, are expressly conditioned upon his continued full performance of his obligations under Exhibit A of this

Agreement. Upon termination by either the Executive or the Company, all rights, duties and obligations of the Executive and the Company to each other shall cease, except as otherwise expressly provided in this Agreement.

6. Timing of Payments and Section 409A.

(a) Notwithstanding anything to the contrary in this Agreement, if at the time the Executive’s employment terminates, the Executive is a

“specified employee,” as defined below, any and all amounts payable under this Agreement on account of such separation from service that would (but for this provision) be payable within six (6) months following the date of

termination, shall instead be paid on the next business day following the expiration of such six (6)-month period or, if earlier, upon the Executive’s death; except (A) to the extent of amounts that do not constitute a deferral of

compensation within the meaning of Treasury regulation Section 1.409A-1(b) (including without limitation by reason of the safe harbor set forth in

Section 1.409A-1(b)(9)(iii), as determined by the Company in its reasonable good faith discretion); (B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section 1.409A-1(a)(5); or (C) other amounts or benefits that are not subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended

(“Section 409A”).

(b) For purposes of this Agreement, all references to “termination of

employment” and correlative phrases shall be construed to require a “separation from service” (as defined in Section 1.409A-1(h) of the Treasury regulations after giving effect to the

presumptions contained therein), and the term “specified employee” means an individual determined by the Company to be a specified employee under Treasury regulation Section 1.409A-1(i).

(c) Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this

Agreement is to be treated as a right to a series of separate payments.

(d) Any payment or reimbursement for expenses that would

constitute nonqualified deferred compensation subject to Section 409A shall be subject to the following additional rules: (i) the amount of expenses eligible for payment or reimbursement during any calendar year shall not affect the

expenses eligible for payment or reimbursement in any other calendar year, (ii) payment or reimbursement shall be made not later than December 31 of the calendar year following the calendar year in which the expense or payment was

incurred, and (iii) the right to payment or reimbursement shall not be subject to liquidation or exchange for any other benefit.

(e) In no event shall the Company have any liability relating to the failure or alleged

failure of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A.

Definitions. For purposes of this Agreement, the following definitions apply:

“Affiliates” means all persons and

entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise.

“Change in Control” means the first to occur of any of the following events:

(a) Change in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any one Person, or more

than one Person acting as a group, acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however,

that for purposes of this subsection (a), the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control;

(b) Change in Effective Control of the Company. If the Company has a class of securities registered pursuant to Section 12

of the Securities Exchange Act of 1934, as amended, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by members of the Board whose

appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (b), if any Person is considered to be in effective control of the Company, the

acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12)-month

period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets

of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets:

(i) a transfer to an entity that is controlled by the Company’s shareholders immediately after the transfer, or (ii) a transfer of assets by the Company to: (I) a shareholder of the Company (immediately before the asset

transfer) in exchange for or with respect to the Company’s stock, (II) an entity, fifty percent (50%) or more of the total value or voting power of which is owned,

directly or indirectly, by the Company, (III) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the

Company, or (IV) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(III). For purposes of this subsection (c), gross fair market

value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of this definition, Persons will be considered to be acting as a group if they are owners of a corporation that enters into a

merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

Further and for the avoidance

of doubt, a transaction shall not constitute a Change in Control if: (i) its sole purpose is to change the state of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that shall be owned in

substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.

“Person” means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust

or any other entity or organization, other than the Company or any of its Affiliates.

8. Conflicting Agreements. The Executive

hereby represents and warrants that his signing of this Agreement and the performance of his obligations under it will not breach or be in conflict with any other agreement to which the Executive is a party or is bound, and that the Executive is not

now subject to any covenants against competition or similar covenants or any court order that could affect the performance of his obligations under this Agreement. The Executive agrees that the Executive will not disclose to or use on behalf of the

Company any confidential or proprietary information of a third party without that party’s consent.

9. Withholding. All

payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company to the extent required by applicable law.

10. Assignment. Neither the Executive nor the Company may make any assignment of this Agreement or any interest in it, by operation of

law or otherwise, without the prior written consent of the other; provided, however, the Company may assign its rights and obligations under this Agreement without the Executive’s consent to one of its Affiliates or to any Person

with whom the Company shall hereafter effect a reorganization, consolidate or merge, or to whom the Company shall hereafter transfer all or substantially all of its properties or assets. This Agreement shall inure to the benefit of and be binding

upon the Executive and the Company, and each of their respective successors, executors, administrators, heirs and permitted assigns.

11.

Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision

in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

12. Conditions. This Agreement is contingent upon the Company’s completion

of satisfactory background and reference checks, as well as its verification of the Executive’s eligibility for employment within three business days of the Effective Date pursuant to the Immigration Reform and Control Act.

13. Arbitration. Any dispute or controversy arising under or in connection with this Agreement or the Executive’s employment with

the Company, other than injunctive relief as prescribed by Exhibit A, shall be settled exclusively by arbitration, conducted before a single arbitrator in Boston, Massachusetts (applying Massachusetts law) in accordance with the National Rules for

the Resolution of Employment Disputes of the American Arbitration Association then in effect. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court

having jurisdiction. The parties acknowledge and agree that in connection with any such arbitration and regardless of outcome, (a) each party shall pay all of its own costs and expenses, including, without limitation, its own legal fees and

expenses, and (b) the arbitration costs shall be borne entirely by the Company.

14. Limitation on Payments. Notwithstanding

anything in this Agreement to the contrary, if any payment or distribution the Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute a “parachute payment” within the

meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise

Tax”), then such Payment shall either be (i) delivered in full, or (ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts,

taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by the Executive on an after-tax basis, of the largest payment, notwithstanding that all or

some portion the Payment may be taxable under Section 4999 of the Code. The accounting firm engaged by the Company for general audit purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing

calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. The accounting firm shall provide its calculations to the Company and the Executive within fifteen

(15) calendar days after the date on which the Executive’s right to a Payment is triggered (if requested at that time by the Company or the Executive) or such other time as requested by the Company or the Executive. Any good faith

determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and the Executive. Any reduction in payments and/or benefits pursuant to this Section 14 will occur in the following order:

(1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction of other benefits payable to the

Executive.

15. Miscellaneous. This Agreement sets forth the entire agreement between the Executive and the Company, and replaces

all prior and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of the Executive’s employment. This Agreement may not be modified or amended, and no breach shall

be deemed to be waived, unless agreed to in writing by the Executive and an expressly authorized representative of the Board. The headings and captions in this Agreement are for convenience only

and in no way define or describe the scope or content of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which may be executed and transmitted by DocuSign, facsimile, electronic mail, or other

means of electronic transmission, each of which shall be an original, and all of which together shall constitute one and the same instrument. This is a Massachusetts contract and shall be governed and construed in accordance with the laws of the

Commonwealth of Massachusetts, without regard to any conflict of laws principles that would result in the application of the laws of any other jurisdiction.

16. Notices. Any notices provided for in this Agreement shall be in writing and shall be effective when (a) delivered (i) in

person, (ii) by depositing in the United States mail, postage prepaid, or (iii) by email (so long as the sender of such email does not receive an automatic reply from the recipient’s email server indicating that the recipient did not

receive such email), and (b) addressed to the Executive at his last known address on the books of the Company or, in the case of the Company, to it at its principal place of business, attention of the Board Chair, or to such other address as

either party may specify by notice to the other actually received.

17. Clawback. The Executive acknowledges and agrees that he has

received and understands the Company’s Policy for Recoupment of Incentive Compensation, effective as of October 2, 2023, as the same may be amended and/or superseded and in effect from time to time (the “Clawback

Policy”), and that the Executive is subject to, and will comply with, the Clawback Policy during and after his employment, in accordance with its terms.

18. Acknowledgement. The Executive acknowledges that (1) the Company provided the Executive with this Agreement by the earlier of

(a) the date of a formal offer of employment from the Company or (b) ten (10) business days before the commencement of employment with the Company, (2) the Executive has been and is hereby advised of his right to consult an attorney

before signing this Agreement, and (3) the Executive has carefully read this Agreement and understands and agrees to all of the provisions in this Agreement.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, this Agreement has been executed by the Company, by its duly authorized

representative, and by the Executive, as of the date first above written.

THE EXECUTIVE:

THE COMPANY:

/s/ Michael Severino, M.D.

By:

/s/ M. Kathleen Behrens, Ph.D.

Michael Severino, M.D.

Name:

M. Kathleen Behrens, Ph.D.

Title:

Chairwoman of the Board

Exhibit A

RESTRICTIVE COVENANT AGREEMENT

THIS RESTRICTIVE COVENANT AGREEMENT (this “Agreement”), dated as of July July 24, 2026, is entered into by and

between Sarepta Therapeutics, Inc. (the “Company”) and Michael Severino, M.D. (the “Executive”). Capitalized terms that are used but not defined herein shall have the respective meanings ascribed to them in the

Employment Agreement between the Company and the Executive, dated on or about the date hereof, to which this Agreement is attached (the “Employment Agreement”).

1. Ownership of Intellectual Property. The Executive agrees to make prompt and full disclosure to the Company of all ideas,

formulas, recipes, discoveries, trade secrets, inventions, innovations, improvements, developments, methods of doing business, processes, programs, designs, analyses, drawings, reports, blueprints, data, software, source code, object code, firmware,

logos and all similar or related information (whether or not patentable and whether or not reduced to practice) that relate to the actual or anticipated business of the Company, research and development or existing or future products or services and

that are conceived, developed, acquired, contributed to, made or reduced to practice by Executive (either solely or jointly with others) during Executive’s employment and/or service with the Company, whether before or after the date of this

Agreement (collectively, “Work Product”). Any copyrightable work falling within the definition of Work Product shall be deemed a “work made for hire” under the copyright laws of the United States, and ownership of all

rights therein shall vest in the Company. To the extent that any Work Product is not deemed to be a “work made for hire,” the Executive hereby assigns and agrees to assign to the Company all right, title and interest, including without

limitation, the intellectual property rights that the Executive may have in and to such Work Product. The Executive shall promptly perform all actions reasonably requested by the Company or its designee (whether during or after the Executive’s

employment and/or service), to establish and confirm the Company’s ownership (including, without limitation, providing testimony and executing assignments, consents, powers of attorney and other instruments). The Company or its designee shall

pay any and all copyright, trademark and patent fees and expenses or other costs reasonably incurred by the Executive for any assistance rendered to the Company or its designee pursuant to this Section 1. The Executive has identified and listed

on Appendix A attached hereto all Work Product that is or was owned by the Executive or was written, discovered, made, conceived or first reduced to practice by the Executive alone or jointly with another person prior to the Executive’s

employment and/or service with the Company. If no such Work Product is listed, the Executive represents and warrants to the Company that the Executive does not now nor has the Executive ever owned, nor has the Executive made, any such Work Product.

2. Confidential Information. The Executive acknowledges that the Executive’s employment and/or service with the

Company creates a relationship of confidence and trust with respect to any information of a confidential or secret nature that relates to the business of the Company or any other party with whom the Company agrees to hold information of such party

in confidence (“Confidential Information”). Such Confidential Information includes, but is not limited to, confidential techniques, know-how, financial information, copyrights, patents,

trademarks, trade names, slogans, logos, designs, service marks, computer software programs,

databases (including all subscriber and potential subscriber databases), magnetic media, systems and programs, trade secrets, business lists, customer lists, client lists, supplier lists, prices,

employee personnel files, engineering data, logs, consultants’ reports, budgets, ratings, forecasts, format strategy, financial reports and projections, tapes and electronic data processing files, accounting journals and ledgers, accounts

receivable records and sales, operating, marketing and business plans. The Executive stipulates and agrees that such Confidential Information is the sole and exclusive property of the Company (or such customers, clients, vendors or other parties

with whom the Company agrees to hold information of such party in confidence as the case may be), that such Confidential Information is confidential and proprietary and that the unauthorized use or disclosure of such Confidential Information would

seriously and irreparably damage the business of the Company. At all times, the Executive will keep and hold all such Confidential Information in strict confidence and trust, and will not in any fashion, form or manner, either directly or

indirectly, use, disclose, divulge or communicate to any person any of such Confidential Information, except pursuant to a subpoena or order issued by a court of competent jurisdiction (provided that the Executive shall (a) immediately give the

Company notice of the circumstances surrounding such compelled disclosure in order to provide the Company an opportunity to seek an appropriate protective order with respect thereto and (b) in no event make disclosure before the expiration of

the compliance date set forth in the subpoena or other request for production). Confidential Information shall not include any information or material (i) to the extent that such information or material is filed by the Company with any

governmental agency on a non-confidential basis, or (ii) is or becomes generally available to the public other than as a result of a wrongful disclosure by (x) a person otherwise bound to the

provisions hereof or (y) any person known or who should reasonably be expected to be known by the Executive to be bound by a duty of confidentiality or similar duty owed to the Company. Upon the termination of the Executive’s employment

and/or service with the Company, the Executive will promptly deliver to the Company all documents and materials of any nature pertaining to the Company or its business activities and will not take with the Executive any documents or materials or

copies thereof containing any Confidential Information. The Executive cannot be held criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret (1) in confidence to a federal, state, or local

government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or (2) in a complaint or other document filed under seal in a lawsuit or other proceeding.

Notwithstanding this immunity from liability, the Executive may be held liable if the Executive unlawfully accesses trade secrets by unauthorized means. Nothing in this Agreement limits, restricts or in any other way affects the Executive’s

communicating with any governmental agency or entity, or communicating with any official or staff person of a governmental agency or entity, concerning matters relevant to the governmental agency or entity or require the Executive to give the

Company prior notice of the same.

3. Restrictive Covenants. The Executive acknowledges that in the course of the

Executive’s employment and/or service with the Company, the Executive has become and shall become familiar with trade secrets and other Confidential Information concerning the Company and that the Executive’s services have been and shall

be of special, unique and extraordinary value to the Company. The Executive therefore agrees that the following restrictions on the Executive’s activities during and after his employment and/or service are necessary to protect the goodwill,

Confidential Information and other legitimate interests of the Company, and in consideration of the Executive’s employment, agrees to the following:

(a). Noncompetition. During the Employment Term and ending twelve

months following the Employment Term (except with respect to a termination due to layoff or termination by the Company without Cause, as such term is defined below) (the “Non-Competition

Period”), the Executive shall not (and shall not take preparatory steps to), and shall cause the Executive’s affiliates not to, directly or indirectly, either for the Executive or through any other Person, as an employee, advisor,

agent, consultant, director, equity holder, manager, co-partner or in any other individual or representative capacity (in each case involving any of the services that the Executive provided to the Company at

any time during the Employment Term or, with respect to the portion of the Non-Competition Period that follows the Employment Term, during the last two (2) years of the Executive’s employment with

the Company), own, operate, manage, control, engage in, invest in, be employed by or participate in any manner in, act as a consultant or advisor to, or render services for (alone or in association with any Person and with or without compensation),

any venture or enterprise that directly or indirectly engages or proposes to engage in any business conducted or in active planning to be conducted by the Company or any of its Affiliates (the “Restricted Businesses”), anywhere in

the United States or in any country in which the Company engages or plans to engage during the Employment Term or, with respect to the portion of the Non-Competition Period that follows the termination of the

Executive’s employment, in any geographic area in which the Executive, at any time within the last two (2) years of the Executive’s employment with the Company, provided services or had a material presence or influence. For the

avoidance of doubt, nothing contained herein shall be construed to prevent the Executive from passively investing in the stock of any Person engaged in a Restricted Business listed on a national securities exchange or traded in the over-the-counter market so long as the Executive is not involved in the business of such Person and the Executive does not own more than one percent of the equity of such

Person. For purposes of this Agreement, “Person” shall mean an individual, partnership, corporation, limited liability company, trust or any other business, governmental or other form of entity. “Cause” means,

solely for purposes of this Agreement and notwithstanding any other agreement between the Executive and the Company to the contrary, including the Employment Agreement, or any other Company plan or program containing a definition of

“cause” or similar provision (however formulated), the occurrence of any of the following, as determined by the Board in its reasonable judgment: (i) the Executive’s failure to perform his duties and responsibilities to the

Company, or the Executive’s performance of his duties and responsibilities to the Company in a manner deemed by the Board to be in any way unsatisfactory; (ii) the Executive’s breach of this Agreement, the Employment Agreement, or

any other agreement between the Executive and the Company; (iii) the Executive’s commission of, or plea of nolo contendere to, a felony or other crime; (iv) any other reasonable basis for the Board’s dissatisfaction with the

Executive, including for reasons such as any misconduct by the Executive that could reasonably be expected to be harmful to the business interests or reputation of the Company, other culpable or inappropriate behavior, or the Executive’s

violation or disregard of a Company rule or policy; or (v) any other action or inaction otherwise constituting cause for termination under Massachusetts law.

Notwithstanding the foregoing, this Section 3(a) will apply following termination of

the Executive’s employment only if (i) the Executive’s employment has terminated other than due to layoff or by the Company without Cause (but provided that the Company may in its discretion condition any Severance Payments due upon

termination without Cause on Executive’s agreement to a Separation Agreement containing post-employment restrictive covenants, as set forth in Section 5(c) of the Employment Agreement), (ii) the Company does not waive the restrictions set

forth in this Section 3(a) at the time of termination and (iii) the Company pays the Executive either (y) the Severance Payments pursuant to Section 5(b) of the Employment Agreement or (z) if the

Executive is not entitled to Severance Payments, payments at a rate equal to 50% of the Executive’s highest annualized base salary within the two (2) years immediately preceding termination of the Executive’s employment for the

duration of the Non-Competition Period that follows such termination (such payments in clause (z), the “Non-Competition Payments”); provided,

that the Executive’s right to receive and retain any Severance Payments or Non-Competition Payments (if any) is conditioned on Executive’s compliance in full with this Section 3(a) following

termination of the Executive’s employment. For the avoidance of doubt, if the Company elects to waive the restrictions set forth in this Section 3(a) at the time of termination, it will have no obligation to pay the Executive any Non-Competition Payments. Any Non-Competition Payments that the Company elects to pay the Executive will be payable as salary continuation in accordance with the

Company’s regular payroll practices, consistent with the requirements for the payment of wages under section 148 of chapter 149 of the Massachusetts general laws.

(b). Nonsolicitation of Business Partners. During the Employment Term and ending twelve months following the Employment

Term (the “Non-Solicitation Period”, and together with the Non-Competition Period, the “Restricted Period”), the Executive shall

not, and shall cause the Executive’s affiliates not to, directly or indirectly through another Person, solicit business from any Person that is, or was during the one-year period preceding the date of

termination of the Executive’s employment, known by the Executive to be a customer, client, supplier, licensor, licensee or other business relation of the Company (each, a “Business Partner”), in any case, with whom the

Executive had a business relationship during Executive’s employment with the Company or possessed Confidential Information.

(c). Nonsolicitation and No-Hire of Employees and Independent Contractors. During

the Non-Solicitation Period, the Executive shall not, and shall cause the Executive’s affiliates not to, directly or indirectly, regardless of who initiates contact (i) recruit, induce or solicit

for employment or engagement any Person who is (or was during the twelve-month period preceding the date of recruitment or solicitation), or (ii) employ, hire or retain any Person who is (or was during the twelve-month period preceding the date

of hire), employed by (or engaged as an independent contractor to) the Company; provided that a general solicitation advertisement, posting or similar job solicitation process not targeting the employees or independent contractors of the

Company shall not be deemed to cause a breach of clause (i) of this Section 3(c); provided, further, that clause (ii) of this Section 3(c) shall not be deemed breached solely by reason of the

Executive’s subsequent employer employing, hiring or retaining any Person who, immediately prior to such employment, hiring or retention, was employed by the Company below the level of Director, so long as (x) the Executive did not,

directly or indirectly, solicit, recruit or induce such Person in breach of clause (i) of this Section 3(c) and (y) the Executive did not, directly or indirectly, participate in, facilitate, or influence the decision to employ, hire

or retain such Person (including by providing a referral, recommendation or other input with respect to such Person); and provided, further, that for clarity this Section 3(c) shall not apply to (A) third party

financial advisors, accountants or attorneys of the Company or (B) any employee or independent contractor who was terminated involuntarily without cause by the Company at least twelve months prior to such solicitation or hiring.

(d).

Non-Disparagement. The Executive will not, at any time, directly or indirectly, either publicly or privately, disparage or defame the Company, its Affiliates and their respective

affiliates, directors, officers, employees, agents, partners, stockholders, individuals or the Company’s products, services, technology or business.

4. Cooperation. Upon the receipt of reasonable notice from the Company (including outside counsel), the Executive agrees that while

employed by the Company (and at such times that are reasonably convenient for the Executive for up to 12 months after termination of the Executive’s employment and/or service with the Company), the Executive will respond and provide

information with regard to matters in which the Executive has knowledge as a result of the Executive’s employment and/or service with the Company, and will assist while employed (and will provide reasonable assistance for up to 12 months after

termination of the Executive’s employment and/or service with the Company) to the Company, its Affiliates and their respective representatives in defense of any claims that may be made against the Company or its Affiliates, and will assist

while employed (and will provide reasonable assistance for up to 12 months after termination of the Executive’s employment with the Company) to the Company and its Affiliates in the prosecution of any claims that may be made by the Company or

its Affiliates, to the extent that such claims may relate to the period of the Executive’s employment and/or service with the Company. The Executive agrees that while employed by the Company, the Executive will promptly inform the Company if

the Executive becomes aware of any lawsuit or government investigation involving any claim that may be filed or threatened against the Company or its Affiliates, and that after termination of the Executive’s employment and/or service with the

Company, the Executive will promptly inform the Company if the Executive (i) is served with a complaint, summons, subpoena, pleading, order or other similar document relating to the Company or its Affiliates, or (ii) otherwise receives

written notice of any lawsuit, government investigation or regulatory body action involving any claim that may be filed or threatened against the Company or its Affiliates. The Executive also agrees to promptly inform the Company (to the extent that

the Executive is legally permitted to do so) if the Executive is asked to assist in any investigation of the Company or its Affiliates (or their actions), regardless of whether a lawsuit or other proceeding has then been filed against the Company or

its Affiliates with respect to such investigation, and shall not do so unless legally required. Upon presentation of appropriate documentation, the Company shall pay or reimburse the Executive for all reasonable out-of-pocket travel, duplicating or telephonic expenses incurred by the Executive in complying with this Section 4 and, in the event Executive is no longer receiving any compensation or benefits under

the Employment Agreement, this Agreement or as a Company employee, shall pay Executive a reasonable hourly rate for any work performed at Company’s request.

5. Enforcement; Remedies. The Executive covenants, agrees and recognizes that the breach or threatened breach of the covenants, or

any of them, contained in this Agreement will result in immediate and irreparable injury to the Company. Therefore, the Company shall, in addition to any other remedies available to it, be entitled to preliminary and permanent injunctive relief

against any breach or threatened breach by the Executive of any of the covenants and

agreements contained in this Agreement to the fullest extent allowed by law without having to post bond, together with an award of its reasonable attorneys’ fees incurred in enforcing its

rights hereunder. The Executive further acknowledges, covenants and agrees that the Executive’s compliance with the provisions of this Agreement are conditions precedent to the Executive’s right to receive any severance payments or

benefits under the Employment Agreement following the termination of Executive’s employment and/or service; and that, if the Executive breaches any such provisions, the Executive shall not, notwithstanding any provision in this Agreement or

the Employment Agreement to the contrary, be entitled to receive any severance payments or benefits that have not already been paid to the Executive and will be obligated to return any severance payments and benefits paid prior to such breach. The

Executive further covenants and agrees that (i) in the event of a breach or violation of any of the respective covenants and agreements contained in this Agreement, the Company shall be entitled to receive all amounts to which it would be

entitled as damages under law or at equity and (ii) subject to the last sentence of this Section 5, in the event of a breach, violation or threatened breach of any of the respective covenants and agreements contained in this Agreement, the

Company shall be excused from making any further payments or distributions to the Executive pursuant to any provision of this Agreement or any other agreement, contract or arrangement between any of them and the Executive until the Executive shall

cease violating, breaching or threatening breach of the Executive’s respective covenants and agreements contained in this Agreement and shall have received reasonable assurances from the Executive that the Executive will no longer engage in

the same, at which time the previously suspended payments shall, except to the extent provided herein, be made to the Executive, which amounts shall be reduced by the damages suffered by the Company. So that the Company may enjoy the full benefit of

the covenants contained in Section 3 above, the Executive further agrees that the Non-Competition Period and Non-Solicitation Period shall be tolled, and shall not

run, during the period of any breach by the Executive of such covenants. If the Executive violates any fiduciary duty to the Company or unlawfully takes any confidential or proprietary information belonging to the Company, the Non-Competition Period will be extended to two (2) years following termination of the Executive’s employment and/or service with the Company. Nothing herein shall be construed as prohibiting the Company,

and its respective successors and assigns, from pursuing any other legal or equitable remedies that may be available to them for any such breach, including the recovery of damages from the Executive.

6. Governing Law. This Agreement has been executed and delivered in the Commonwealth of Massachusetts and its validity, interpretation,

performance and enforcement will be governed by the laws of that state applicable to contracts made and to be performed entirely within that state.

7. Other. The provisions of Sections 11 and 13 of the Employment Agreement shall apply to this Agreement mutatis mutandis.

[The remainder of this page is intentionally left blank.]

The Executive acknowledges that the Company provided the Executive with this Agreement at

least ten (10) business days before the date on which it is to become effective. This Agreement becomes effective on the eleventh (11th) business day following the date on which the Company

and the Executive execute it. The Executive acknowledges that the Executive has been and is hereby advised of the Executive’s right to consult an attorney before signing this Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as set forth above.

SAREPTA THERAPEUTICS, INC.

By:

Name:

Title:

EXECUTIVE:

Michael Severino, M.D.

Appendix A

- 21 -

EX-10.2

Filename: d101719dex102.htm · Sequence: 3

EX-10.2

Exhibit 10.2

CONSULTING AND ADVISORY AGREEMENT

This CONSULTING AND ADVISORY AGREEMENT (this “Agreement”) is entered into as of July 26, 2026 by and between Sarepta

Therapeutics, Inc. (the “Company”) and Douglas S. Ingram, an individual (“Consultant”).

WHEREAS, Consultant is

retiring from his employment with the Company as its Chief Executive Officer (“Retirement”) effective as of July 28, 2026 (the “Effective Date”);

WHEREAS, Consultant has agreed to act as an advisor to the Company following his Retirement; and

WHEREAS, the Company and Consultant desire to enter into this Agreement setting forth the terms of Consultant’s consulting and advisory

relationship with the Company and certain other matters relating to his transition to an advisor role.

NOW, THEREFORE, in consideration

of the premises and the mutual covenants and agreements herein contained, the parties hereto agree as follows:

1. Consulting

Services. Consultant agrees to advise the Company’s Chief Executive Officer regarding certain transition-related matters and to provide certain other consulting and advisory services to the Company’s Chief Executive Officer

relating to the Company’s business as reasonably requested by the Company’s Chief Executive Officer from time to time (collectively, the “Services”). The term of this Agreement will commence on the Effective Date and end on

December 31, 2026, unless extended by mutual written agreement of the parties or earlier terminated as provided herein (the “Consulting Period”). Consultant agrees to devote that amount of time as is reasonably required by the

Company for him to perform the Services, taking into account his other obligations as in effect from time to time.

2. Independent

Contractor. Consultant’s relationship with the Company will be that of an independent contractor and not that of an employee. Consultant will be solely responsible for determining the method, details and means of performing the

Services. Consultant will have no authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written authorization of the Company. Consultant acknowledges and agrees that he will not be

eligible for any benefits available to employees of the Company. All of the Services to be performed by Consultant will be as agreed between Consultant and the Company’s Chief Executive Officer, and Consultant will be required to report only

to the Chief Executive Officer concerning the Services performed under this Agreement. The nature and frequency of these reports will be left to the discretion of the Chief Executive Officer. Consultant will have full responsibility for applicable

withholding taxes for all compensation paid to Consultant under this Agreement in his capacity as a non-employee of the Company and will have full responsibility for compliance with all applicable labor and

employment requirements with respect to Consultant’s self-employment. Consultant agrees to indemnify, defend and hold the Company harmless from any liability for, or assessment of, any claims or penalties with respect to such withholding

taxes, labor or employment requirements, including any

liability for, or assessment of, withholding taxes imposed on the Company by the relevant taxing authorities with respect to any compensation paid to Consultant in his capacity as a non-employee of the Company; provided, however, that Consultant will have no indemnification obligation with respect to any liabilities arising from the Company’s own acts or omissions.

3. Compensation. As compensation for the Services provided hereunder, during the Consulting Period, the Company will pay to

Consultant a consulting fee (the “Consulting Fee”) of $15,000 per month. The Consulting Fee will be paid to Consultant on the first business day of each calendar month during the Consulting Period in respect of the immediately preceding

calendar month and will be pro-rated for partial months of service hereunder.

The Company

acknowledges and agrees that Consultant’s transition from employee to consultant on the Effective Date will not constitute a termination or interruption of Consultant’s service, continuous service or status as a service provider for

purposes of any equity incentive plan of the Company or any award agreement between the Company and Consultant, and that Consultant will continue to be a “Service Provider” (or term of similar import) under each such plan and award

agreement for so long as he provides the Services. Each of Consultant’s outstanding equity awards will continue to vest and remain outstanding and, as applicable, exercisable during the Consulting Period in accordance with its terms (but not

past the original term of the award, if applicable). For the avoidance of doubt, the Company acknowledges that (i) Consultant’s 2,200,000 vested performance options originally granted on June 26, 2017 shall remain vested and

exercisable through the end of their original term, and (ii) Consultant’s performance-vesting restricted stock units, performance units, performance-vesting restricted shares, performance shares and time-based restricted stock units, in

each case granted on December 7, 2025, shall remain eligible for the retirement provisions of such awards if Consultant provides the Services through December 7, 2026.

4. Termination. Consultant may terminate this Agreement prior to the expiration of the Consulting Period for any reason upon

giving thirty (30) days’ advance notice of such termination. The Company may only terminate this Agreement for Cause, which for purposes of this Agreement shall mean Consultant’s willful refusal or failure to perform his material

obligations hereunder (other than due to illness, death or disability) that is not cured within thirty (30) days of Consultant’s receipt of written notice from the Company containing reasonable specificity of such refusal or failure and a

statement of corrective actions.

In the event of a termination of this Agreement by Consultant or by the Company for Cause, the

Company’s only obligation will be to pay Consultant any earned but unpaid Consulting Fee as of the termination date. If the Company terminates this Agreement or the Services other than for Cause, then each of Consultant’s outstanding

equity awards will continue to vest as if the Services had continued through December 31, 2026.

5. Restrictive Covenants.

(a) Continuing Obligations. Consultant acknowledges and agrees that he remains bound by his obligations under the

Employment Agreement between the Company and Consultant dated June 26, 2017, as amended by that certain amendment dated June 16, 2018 (the “Employment Agreement”), which survive the termination of his employment by the terms

thereof, including without limitation his obligations under Sections 10 and 11 of the Employment Agreement (such obligations, together with any other covenant or obligations with respect to confidentiality, assignment of intellectual property,

nonsolicitation or noncompetition, the “Continuing Obligations”).

(b) Confidentiality.

Consultant hereby reaffirms and agrees to comply with the policies and procedures of the Company and its affiliates for protecting confidential information, as described in Section 10(a) of the Employment Agreement, and will never disclose to

any person (except as required by applicable law or for the proper performance of his duties and responsibilities to the Company and its affiliates), or use for his own benefit or gain, any such confidential information obtained by Consultant

incident to his employment or other association with the Company or any of its affiliates. Consultant understands that this restriction will continue to apply after the termination of this Agreement, regardless of the reason for such termination.

For the avoidance of doubt, (i) nothing contained in this Agreement limits, restricts or in any other way affects Consultant’s communicating with any governmental agency or entity, or communicating with any official or staff person of a

governmental agency or entity, concerning matters relevant to such governmental agency or entity and (ii) Consultant will not be held criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret

(y) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or (z) in a complaint or other

document filed under seal in a lawsuit or other proceeding; provided, however, that notwithstanding this immunity from liability, Consultant may be held liable if he unlawfully accesses trade secrets by unauthorized means.

Without limiting the generality of subsection (a) above, Consultant acknowledges and agrees that he continues to be bound by each of his undertakings under Sections 10(b) and (c) of the Employment Agreement, with the post-employment

portion of the non-competition period, as described in Section 10(b) of the Employment Agreement, commencing on December 31, 2026 (or such earlier date that this Agreement terminates under

Section 4 of this Agreement).

(d) Remedies; Enforceability. If Consultant commits a breach, or

threatens to commit a breach, of any of the provisions of this Section 5, the Company shall have the right and remedy to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction, it being acknowledged

and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages may not provide an adequate remedy to the Company. Consultant therefore agrees that the Company, in addition to any other

remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by Consultant of any of the provisions of this Section 5, without having to post bond. If any of the covenants

contained in this Section 5, or any part thereof, is hereafter construed to be invalid or

unenforceable, the same shall not affect the remainder of the covenant or covenants, which shall be given full effect without regard to the invalid portions. If any of the covenants contained in

this Section 5, or any part thereof, is held to be unenforceable because of the duration or scope of such provision or the area covered thereby, the parties agree that the court making such determination shall have the power to reduce the

duration and/or area of such provision and, in its reduced form, such provision shall then be enforceable. In the event that the courts of any one or more of such states shall hold any such covenant wholly unenforceable by reason of the breadth of

such scope or otherwise, it is the intention of the parties hereto that such determination not bar or in any way affect the Company’s right to the relief provided above in the courts of any other states within the geographical scope of such

other covenants, as to breaches of such covenants in such other respective jurisdictions, the above covenants as they relate to each state being, for this purpose, severable into diverse and independent covenants.

6. Section 409A of the Code. This Agreement is intended to comply with, or be exempt from, the requirements of Section 409A

of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be construed consistent with such intent. Notwithstanding the foregoing, in no event shall the Company have any liability relating to the failure or alleged failure

of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A of the Code.

Miscellaneous.

(a) Resignations. As of the Effective Date, Consultant has resigned from all

officer and other positions with the Company and its affiliates, including his membership on the Board of Directors of the Company.

(b) No Severance. Consultant acknowledges and agrees that he is not eligible for any severance benefits in

connection with or following his Retirement, including but not limited to under the Employment Agreement or the Change in Control and Severance Agreement between the Company and Consultant dated as of June 26, 2017, as amended.

contained in the Employment Agreement, any amendment thereto, or any award agreement or stock option agreement between Consultant and the Company, the holding period restriction otherwise applicable to Consultant with respect to the transfer or

disposition of any of the shares of the Company’s common stock acquired pursuant to any equity award granted to Consultant by the Company (including upon the exercise of any stock option and the settlement of any restricted stock unit or

performance award) is waived in its entirety as of the Effective Date.

(d) Entire Agreement. This Agreement

constitutes the sole agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof; provided, however, that the Continuing Obligations will remain outstanding and will survive in

accordance with their terms; provided, further, that this Agreement does not supersede or affect any equity incentive plan of the Company, any award agreement between the Company and Consultant, or any indemnification agreement between the Company

and Consultant, each of which remains in full force and effect in accordance with its terms.

(e) Amendments and Waivers. Any term of this Agreement may be

amended or waived only with the written consent of the parties.

(f) Choice of Law. The validity,

interpretation, construction and performance of this Agreement will be governed by the laws of the Commonwealth of Massachusetts, without giving effect to the principles of conflict of laws.

(g) Arbitration. Any dispute or controversy arising under or in connection with this Agreement or the Services,

other than injunctive relief as it relates to any Continuing Obligation, shall be settled exclusively by arbitration, conducted before a single arbitrator in Boston, Massachusetts (applying Massachusetts law) in accordance with the National Rules

for the Resolution of Employment Disputes of the American Arbitration Association then in effect. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court

expenses, and (b) the arbitration costs shall be borne entirely by the Company.

(h) Severability. If

one or more provisions of this Agreement are held to be unenforceable under applicable law, such portion will be deemed to be modified or altered to the extent necessary to conform thereto or, if that is not possible, to be omitted from this

Agreement. The invalidity of any such portion will not affect the force, effect, and validity of the remaining portion hereof.

(i) Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but

all of which together will constitute one and the same instrument.

(j) Successors. This Agreement is

personal to Consultant and, without the prior written consent of the Company, will not be assignable by Consultant otherwise than by will or the laws of descent and distribution. This Agreement will inure to the benefit of and be enforceable by

Consultant’s legal representatives. This Agreement will inure to the benefit of and be binding upon the Company and its successors and assigns. As used in this Agreement, “the Company” will mean both the Company as defined above

and any such successor that assumes and agrees to perform this Agreement, by operation of law or otherwise.

(k)

Advice of Counsel. EACH PARTY ACKNOWLEDGES THAT, IN EXECUTING THIS AGREEMENT, SUCH PARTY HAS HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS

AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

(l) Indemnification. Nothing in this Agreement affects

Consultant’s rights to indemnification, advancement of expenses or coverage under directors’ and officers’ liability insurance with respect to his service as an officer or director of the Company or any of its affiliates, whether

under the Company’s certificate of incorporation or bylaws, any indemnification agreement between the Company and Consultant, or applicable law, all of which survive in accordance with their terms.

[Remainder of page intentionally left blank.]

This Agreement has been executed as a sealed instrument by the Company, by its duly authorized

representative and by Consultant.

SAREPTA THERAPEUTICS, INC.

By:

/s/ M. Kathleen Behrens, Ph. D.

Title:

Chairwoman of the Board

DOUGLAS S. INGRAM

/s/ Douglas S. Ingram

Signature

EX-99.1

Filename: d101719dex991.htm · Sequence: 4

EX-99.1

Exhibit 99.1

Sarepta Therapeutics Appoints Michael Severino, M.D., Chief Executive Officer

•

Severino joins Sarepta’s Board of Directors

•

Doug Ingram to retire from Sarepta

CAMBRIDGE, Mass., July 27, 2026 — (BUSINESS WIRE) — Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for

rare diseases, today announced the appointment of Michael Severino, M.D., as chief executive officer, effective July 28, 2026. Severino, who was previously CEO of Tessera Therapeutics, will also join Sarepta’s Board of Directors. Severino

succeeds Doug Ingram, who is retiring and will serve the company in an advisory capacity until the end of 2026 to ensure a smooth transition.

Severino

brings more than 25 years of biopharmaceutical experience to Sarepta. Prior to Tessera, he served as Vice Chairman and President at AbbVie, where he was responsible for research and development and the corporate strategy office. During his tenure at

AbbVie, he oversaw a rapid expansion of AbbVie’s pipeline and built critical new capabilities in areas such as genetics and genomics, computational biology, and precision medicine. Severino has made significant contributions to more than a

dozen approved therapies including Rinvoq®, Skyrizi®, and Venclexta® and,

under his leadership, AbbVie built leading franchises in hematologic oncology, immunology, and neuroscience. Over the course of his career, he has led the strategy behind the research, development, registration, and commercialization of novel agents

across a wide range of therapeutic areas and built critical capabilities needed to lead in the era of rapidly advancing precision medicine.

“It is

a privilege to join Sarepta, the leader in precision genetic medicine for rare diseases, and a company driven by an extraordinary purpose: bringing innovative therapies, hope and possibility to patients and families facing serious and

life-threatening diseases,” said Severino. “Throughout my career, I have focused on combining cutting edge science with drug development and commercialization expertise to improve the lives of patients. Sarepta’s unwavering

commitment to patients and science resonates deeply with me, and I was very encouraged by the long-term data supporting our approved products, and the pre-clinical and clinical data from the siRNA pipeline

programs and the potential for best-in-class treatments. I look forward to working with my new colleagues at Sarepta to continue to serve the Duchenne community and

expand our reach.”

“After a comprehensive search, which identified multiple experienced and attractive candidates, the Board is pleased to

welcome Mike as Sarepta’s next chief executive officer. Over a distinguished 25-year career in biopharmaceuticals, Mike has demonstrated a combination of scientific depth, development expertise, and

proven execution that consistently delivers results,” said M. Kathleen Behrens, Ph.D., Chairperson of Sarepta’s Board of Directors. “His industry experience, strategic vision and commitment to patients, coupled with having built

industry-leading franchises across multiple therapeutic areas, give us great confidence as he works to build on Sarepta’s strengths and steer the company as it continues to advance promising science on behalf of patients.”

“On behalf of Sarepta’s Board, we thank Doug for his outstanding leadership and many

contributions to the company,” Behrens continued. “He has led Sarepta’s evolution into a leader in genetic medicine, guiding the Company through a period of meaningful growth and transformative milestones, including the approvals

of two exon-skipping treatments and the first one-time gene therapy for Duchenne muscular dystrophy. Throughout his tenure, Doug remained deeply committed to patients, driving innovation with a sense of

urgency and purpose that has shaped Sarepta’s culture and future. We are grateful for his service and wish him the best in retirement.”

“Leading Sarepta has been the honor of my professional career,” said Ingram. “I am particularly pleased that Mike inherits a company with a

great team, a portfolio of life-changing therapies, a pipeline with exceptional potential and the financial resources to advance that science independently and at scale.

Together, we have already brought a better future to thousands of patients and I am confident that under Mike’s leadership, Sarepta will continue to push

the boundaries of what is possible and deliver an even greater impact for the people we serve.”

About Michael Severino, M.D.

Dr. Severino was formerly Chief Executive Officer at Tessera and a CEO-Partner at Flagship Pioneering, roles he

had held since 2022. He joined Tessera from AbbVie where he was Vice Chairman and President responsible for research and development and the corporate strategy office.

Prior to joining AbbVie, Severino served in roles of increasing responsibility at Amgen, Inc., leading to his appointment as Senior Vice President, Global

Development and Chief Medical Officer. As Senior Vice President, he oversaw the company’s clinical development efforts across all therapeutic areas, including oncology, inflammation, neuroscience, cardiovascular, and metabolic disorders. Prior

to Amgen, Severino was a Senior Director at Merck & Co., Inc., where he was responsible for leading research in multiple areas, including clinical genomics, molecular profiling, and experimental medicine.

In addition to Sarepta, Severino also serves on the Board of Directors for Avantor, Montai Health, Quotient Therapeutics, and Viatris. Severino earned his

Bachelor of Science in Biochemistry from the University of Maryland, College Park, where he graduated summa cum laude and was a member of the Phi Beta Kappa Society. He earned his M.D. from the Johns Hopkins University and completed his residency

and post-doctoral training at Massachusetts General Hospital and Harvard Medical School.

About Sarepta Therapeutics

Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold a leadership

position in Duchenne muscular dystrophy (Duchenne) and are building a robust portfolio of programs across muscle, central nervous system, and cardiac diseases. For more information, please visit www.sarepta.com or follow us on

LinkedIn, X, Instagram and Facebook.

Internet Posting of Information

We routinely post information that may be important to investors in the ‘For Investors’ section of our website

at www.sarepta.com. We encourage investors and potential investors to consult our website regularly for important information about us.

Forward-Looking Statements

In order to provide

Sarepta’s investors with an understanding of its current results and future prospects, this press release contains statements that are forward-looking. Any statements contained in this press release that are not statements of historical fact

may be deemed to be forward-looking statements. Forward-looking statements may be accompanied by words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “may,”

“intends,” “prepares,” “looks,” “potential,” “possible” and similar expressions. These forward-looking statements include statements relating to our future operations, business plans,

market opportunities, priorities and research and development programs, including the potential of our siRNA programs, technologies and products, and management changes.

These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta’s control. Actual results could materially differ

from those stated or implied by these forward-looking statements as a result of such risks and uncertainties. Known risk factors include the following: our ability to obtain and maintain regulatory approvals; we may not be able to comply with all

FDA post-approval commitments and requirements with respect to our products or product candidates in a timely manner or at all; success in preclinical and clinical trials, especially if based on a small patient sample, does not ensure that later

clinical trials will be successful; results in clinical trials, even if successful, may fail to meet regulatory approval requirements for the safety and efficacy of product candidates, and could lead to potential regulatory actions from the FDA; we

may not be able to execute on our business plans, including meeting our expected or planned regulatory milestones and timelines, research and clinical development plans, and bringing our product candidates to market, for various reasons, some of

which may be outside of our control, including possible limitations of company financial and other resources, manufacturing limitations that may not be anticipated or resolved for in a timely manner, and regulatory, court or agency decisions, such

as decisions by the United States Patent and Trademark Office with respect to patents that cover our product candidates; and those risks identified under the heading “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC) as well as other SEC filings made by the Company which you are encouraged to review.

Source: Sarepta Therapeutics, Inc.

Investor Contacts:

Ian Estepan, 617-274-4052, iestepan@sarepta.com

Ryan Wong, 617-800-4112, rwong@sarepta.com

Tam Thornton, 617-803-3825, tthornton@sarepta.com

Media Contact:

Tracy Sorrentino, 617-301-8566, tsorrentino@sarepta.com

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

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Namespace Prefix:

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