Louise Rodino-Klapac
Sarepta TherapeuticsAbout Louise Rodino-Klapac
Louise Rodino-Klapac, Ph.D., age 47, is President of Research & Development and Technical Operations at Sarepta (effective July 16, 2025) after serving as EVP, Head of R&D and Chief Scientific Officer since December 2020; she joined Sarepta in April 2018 and previously led gene therapy functions at Nationwide Children’s Hospital and co-founded Myonexus Therapeutics, acquired by Sarepta in 2019 . She holds a B.S. in biology from Kings College and a Ph.D. in molecular genetics from Ohio State University; she is an NIH Fellow appointee, a board member of the Association for Regenerative Medicine, and a member of ASGCT and the American Academy of Neurology . Annual bonuses for executives have been tied to corporate objectives including product revenue goals and regulatory milestones (e.g., accelerated approval and launch of Elevidys), with corporate bonus pool achievement of 130% in 2022 and 115% in 2023, while acknowledging the EMBARK Phase III miss, and long-term incentives incorporate PSUs with a mix of financial and key program milestones (about 50% of LTI in 2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sarepta Therapeutics | President, R&D & Technical Operations | 2025–present | Elevated leadership scope across R&D and Technical Operations; base increased to $800,000 and target bonus to 65% . |
| Sarepta Therapeutics | EVP, Head of R&D; Chief Scientific Officer | 2020–2025 | Led R&D; advanced gene therapy portfolio; appointed Head of R&D in Nov 2021 . |
| Sarepta Therapeutics | SVP, Gene Therapy | 2019–2020 | Senior leadership in gene therapy . |
| Sarepta Therapeutics | VP, Gene Therapy | 2018–2019 | Initial Sarepta role building gene therapy programs . |
| Nationwide Children’s Hospital | Head, Laboratory for Gene Therapy Research | Pre-2018 | Led academic gene therapy research . |
| Myonexus Therapeutics | Co-founder & Chief Scientific Officer | Pre-2019 | Co-founded gene therapy company acquired by Sarepta in 2019 . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Association for Regenerative Medicine | Board Member | Ongoing | Industry association governance . |
| National Institutes of Health | Fellow Appointee | Historical/Ongoing | NIH Fellow designation . |
| American Society for Gene & Cell Therapy | Member | Ongoing | Professional society membership . |
| American Academy of Neurology | Member | Ongoing | Professional society membership . |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $621,000 | $645,840 | $671,674 |
| Target Bonus (%) | 50% (program for executives) | 50% (program for executives) | Not disclosed (executive program continued) |
| Actual Bonus Paid ($) | $403,650 (paid Mar-2023) | $371,358 (paid Mar-2024) | $436,588 |
| Role-based Update (effective Jul-16-2025) | — | — | Base increased to $800,000; target bonus to 65% |
Performance Compensation
| Equity Grant Value (FASB ASC 718) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Stock Awards ($) | $643,360 | $701,955 | $772,020 |
| Option Awards ($) | $2,263,099 | $1,988,909 | $845,250 |
| PSU Design (program-wide) | Introduced for executives (mix of financial and key program milestones) | Continued; performance conditions not probable at grant (grant-date fair value zero; max values disclosed) | ~50% of LTI allocated to PSUs |
| Annual Cash Bonus Program – Corporate Payout Factor | 2022 | 2023 | 2024 |
|---|---|---|---|
| Corporate Achievement vs Target | 130% | 115% (with EMBARK miss acknowledged) | Not disclosed |
Equity Ownership & Alignment
- Beneficial Ownership: 332,097 shares; includes 274,492 shares subject to options exercisable within 60 days; <1% of outstanding; shares outstanding 98,256,898 (as of Apr 8, 2025) .
- Stock Ownership Guidelines: Executives must own stock equal to 1x base salary (CEO 3x); all executives are in compliance .
- Hedging/Pledging: Company prohibits hedging or pledging of Company stock .
- ESPP Participation: 1,818 shares purchased under the 2016 ESPP cumulatively through Mar 31, 2025 .
Outstanding Equity Awards (as of 12/31/2024)
| Award Type | Exercisable | Unexercisable | Strike ($) | Expiration | Notes |
|---|---|---|---|---|---|
| Stock Option | 28,875 | — | 76.36 | 4/30/2028 | Initial 2018 hire grant . |
| Stock Option | 40,000 | — | 145.48 | 3/4/2029 | 2019 grant . |
| Stock Option | 62,500 | — | 114.47 | 2/28/2030 | 2020 grant . |
| Stock Option | 25,000 | — | 169.54 | 12/14/2030 | 2020 grant . |
| Stock Option | 56,253 | 3,747 | 87.11 | 3/3/2031 | 2021 grant . |
| Stock Option | 33,008 | 14,992 | 80.42 | 3/7/2032 | 2022 grant . |
| Stock Option | 11,821 | 15,179 | 155.99 | 3/6/2033 | 2023 grant . |
| Stock Option | — | 12,500 | 128.67 | 3/1/2034 | 2024 grant . |
| Unvested RSUs | — | 10,000 | — | — | Granted 11/16/2031; market value $1,215,900 at $121.59 . |
| Unvested RSUs | — | 4,000 | — | — | Market value $486,360 at $121.59 . |
| Unvested RSUs | — | 5,500 | — | — | Market value $668,745 at $121.59 . |
| Unvested PSUs | — | 1,375 | — | — | Market/payout value $167,186 at $121.59 . |
| Unvested RSUs | — | 3,375 | — | — | Market value $410,366 at $121.59 . |
| Unvested RSUs | — | 17,500 | — | — | Market value $2,127,825 at $121.59 . |
| Unvested RSUs | — | 6,000 | — | — | Market value $729,540 at $121.59 . |
| Unvested PSUs | — | 7,500 | — | — | Market/payout value $911,925 at $121.59 . |
Employment Terms
| Provision | Standard Severance (No CIC) | Change-in-Control Severance (Double Trigger) |
|---|---|---|
| Cash Severance | 9 months base salary + target bonus, paid over 9 months for salary and lump sum for bonus; 3 months base salary paid as non-compensation consideration for restrictive covenants . | |
| COBRA | Company-paid monthly premium at active employee rates during severance period (up to 12 months for non-CIC) . | |
| CIC Cash Benefits | 18 months base salary + 100% target bonus, lump sum; COBRA up to 18 months . | |
| Equity | Full acceleration of all unvested equity awards upon qualifying termination in CIC; if successor does not assume awards, immediate vesting . | |
| Clawback | Dodd-Frank compliant clawback for erroneously paid incentive comp due to restatement; discretionary clawback for equity issued above plan limits . | |
| Hedging/Pledging | Prohibited . |
Quantified Severance Economics (as of 12/31/2024)
| Scenario | Cash Severance ($) | Equity Acceleration ($) | COBRA ($) | Total ($) |
|---|---|---|---|---|
| No CIC (Qualifying Termination) | 1,007,510 | — | 29,269 | 1,036,779 |
| CIC (Qualifying Termination) | 1,343,347 | 7,753,041 | 43,904 | 9,140,292 |
Investment Implications
- Pay-for-performance alignment: Higher at-risk equity via PSUs (~50% of LTI in 2024) and cash bonuses tied to revenue/regulatory milestones signal alignment, though bonus funding can remain above target despite program setbacks (130% in 2022; 115% in 2023 with EMBARK miss) .
- Retention and role expansion: Promotion to President, R&D & Technical Operations with increased base ($800,000) and target bonus (65%) strengthens retention; non-compensation consideration and severance mechanics provide downside protection but maintain performance-based equity risk .
- Insider selling pressure: Significant option tranches expiring across 2028–2034 and large immediately exercisable options could create periodic selling windows; hedging/pledging prohibitions and ownership guideline compliance mitigate alignment concerns .
- Change-in-control incentives: Double-trigger CIC terms with full equity acceleration (total $9.14M at 12/31/2024) create potential retention through a transaction but also a meaningful windfall if terminated post-CIC, warranting monitoring around strategic alternatives and portfolio shifts .
- Governance and shareholder feedback: Strong say-on-pay support (87% in 2024) and robust clawback framework reduce governance risk; ongoing shareholder engagement has driven increased PSU usage and best-practice policies .