Spyre Grants 30,200 Stock Options at $32.75 to Five New Hires
Spyre Therapeutics granted 30,200 stock options to five non-executive employees as inducement awards under its 2018 Equity Inducement Plan, with a 10-year term and $32.75 exercise price based on the Feb. 2 closing price. Options vest 25% after one year and monthly thereafter over four years.
1. Option Grant Overview
The Compensation Committee approved inducement awards of 30,200 stock options to five non-executive employees under the 2018 Equity Inducement Plan. Each option carries a 10-year term with an exercise price set at $32.75, reflecting Spyre’s Feb. 2 closing share price.
2. Vesting Schedule and Terms
One-fourth of each option grant vests on the first anniversary of the employee’s start date, with the remainder vesting monthly over the next 36 months. All vesting is contingent on continuous service, consistent with Nasdaq Listing Rule requirements.