Spyre Therapeutics Grants 51,300 Options at $70.54 Exercise Price
SYRE•Spyre Therapeutics granted inducement stock options for 51,300 shares to four non-executive employees under its 2018 Equity Inducement Plan with a 10-year term and $70.54 exercise price, matching the June 1 closing price. Options vest 25% after one year and then monthly over 36 months of service.
1. Details of Inducement Awards
Spyre’s Compensation Committee approved inducement stock options for an aggregate of 51,300 shares to four non-executive employees under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan. These grants were approved on June 1, 2026, as material inducements for employees’ acceptance of roles at the company.
2. Vesting and Exercise Terms
Each option carries a 10-year term with an exercise price of $70.54 per share, equal to the closing price on June 1. Vesting occurs 25% after the first anniversary of each employee’s start date and then 1/48th of the total shares vest monthly thereafter, contingent on continuous service.
3. Regulatory Approval
The grants comply with Nasdaq Listing Rule 5635(c)(4), which permits equity inducements outside of existing shareholder-approved plans for new hires. This approval ensures the awards are material to employees’ decisions to join the company.
4. Potential Dilution Impact
If fully exercised, the 51,300 options will increase Spyre’s outstanding share count, resulting in modest dilution. The ultimate impact on shares outstanding depends on future exercise behavior and continued service through vesting milestones.
