Estepan Ian Michael 4

What Happened

• Ian Estepan, Chief Operating Officer of Sarepta Therapeutics (SRPT), exercised stock options on February 26, 2026. He acquired a total of 7,450 shares (2,069 + 5,381) by paying option exercise prices of $13.71 per share, for a combined cash cost of $102,140 (2,069 shares = $28,366; 5,381 shares = $73,774). The filing shows corresponding derivative positions converted (disposed at $0), which reflects the exercise/conversion of the options rather than a market sale.

Key Details

• Transaction date: February 26, 2026; Filing date: March 2, 2026.
• Transaction type/code: Exercise of options (derivative code M).
• Prices and amounts: 2,069 shares @ $13.71 (paid $28,366); 5,381 shares @ $13.71 (paid $73,774); total acquired 7,450 shares for $102,140.
• Shares owned after transaction: The filing’s footnote indicates these represent shares held by the reporting person after the exercise (per F1).
• Footnotes/notes: F1 denotes shares held after exercise of a stock option. The entries showing disposal at $0 reflect conversion of the derivative instrument upon exercise, not a sale.
• Timeliness: Filing was made within a few days (filed March 2 for a Feb 26 transaction); no late filing flag was indicated in the report.

Context

• This was an option exercise (code M), not an open-market purchase or sale. Because the exercised shares were not reported sold immediately, this is an acquisition of shares into the insider’s holdings rather than a liquidity event.
• Exercises are often routine (vesting or planned conversions); the filing itself does not state motivation.