Repair Therapeutics Insiders Establish Automatic Stock Disposal Plans
Repare Therapeutics Inc. (“Repare” or the “Company”) (Nasdaq: RPTX), a leading clinical-stage precision oncology company, made possible by its proprietary synthetic lethality approach to the discovery and development of new therapies , today announced that each of its Executive Vice President and Chief Financial Officer, Steve Forte and his Executive Vice President and Chief Medical Officer, Maria Koehler (collectively, the “Officers”), have established automatic securities disposition plans (“ASDP”) in accordance with applicable US and Canadian laws. securities laws, including United States Securities and Exchange Commission (“SEC”) Rule 10b5-1 and the recommended practices set out in Staff Notice 55-317 of the Canadian Securities Administrators ( Staff Notice 55-317) and the Company’s internal regulations. Strategies.
Although Repare is listed on the Nasdaq Global Select Market, it is also considered a reporting issuer under the Securities Act (Quebec) and therefore announces the creation of ASDPs in accordance with recently published guidelines provided by the Canadian authorities in securities in the staff notice. 55-317.
Under US and Canadian securities laws and the Company’s business policies, insiders of Repare are subject to limits on their ability to sell Company shares. ASDPs address this problem by authorizing transactions to be carried out in accordance with pre-established instructions given when executives are not in possession of material undisclosed information.
Up to 42,182 common shares of Repare can be sold under ASDPs implemented by officers in total. The ASDPs are designed to allow for an orderly disposition of each of the management’s shares in Repare at prevailing market prices over the approximately 14 months that the ASDPs are expected to be in place. Sales of common shares under the ASDPs will not commence until after the Company files its Form 10-Q with the SEC for the quarter ending March 31, 2021, in accordance with recent best practices set out in the notice. 55-317 staff.
Each officer has provided clear trading parameters and other written instructions to the independent brokers administering the ASDPs, specifying the number of securities to sell and setting minimum trading prices, which in all cases significantly exceed the current trading price. of the Company’s common action. actions and dates or frequencies of sales. The ASDPs prohibit the concessionaire administering the ASDPs from consulting with management regarding any sale under the ASDP and prohibits the executive from disclosing to the concessionaire any information relating to the Company that could influence the performance of the ASDP.
ASDPs contain significant restrictions on the ability of officers to modify, suspend or terminate ASDPs which have the effect of ensuring that officers cannot benefit from material non-public information. Additionally, our leaders can only have one ASDP in place at any given time.
About Repair Therapeutics Inc.
Repare Therapeutics is a leading clinical-stage precision oncology company with its proprietary synthetic lethality approach to the discovery and development of new therapies. The Company uses its genome-wide, CRISPR-compatible SNIPRx® platform to discover and systematically develop highly targeted cancer therapies focused on genomic instability, including repair of DNA damage. The Company’s pipeline includes its flagship product candidate RP-3500, a potential leading ATR inhibitor, as well as RP-6306, its CCNE1-SL inhibitor and its Polθ inhibitor programs. For more information, please visit reparerx.com.
SNIPRx® is a registered trademark of Repare Therapeutics, Inc.
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Therapeutic Repair, Inc.