Spyre Therapeutics Announces Grants of Inducement Awards

The awards were material to two employees’ acceptance of employment and require continued service for vesting.

Rhea-AI Summary

Spyre Therapeutics (SYRE) approved equity inducement awards for two non-executive employees, including stock options to purchase 21,424 common shares.

The awards also include 6,604 restricted stock units (RSUs) and were approved on October 1, 2026 under the amended 2018 Equity Inducement Plan. They were material to the employees’ acceptance of employment. The options have a $89.93 exercise price, equal to the October 1 closing share price, and a 10-year term. Options vest one-fourth on the first anniversary of each employee’s start date, then one-forty-eighth monthly. RSUs vest one-fourth annually on anniversaries of the next specified quarterly date on or after the employee’s start date. Both awards require continuous service through their vesting dates.

Positive

• Minor pointEquity inducement awards were material to two non-executive employees’ acceptance of employment.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Options for 21,424 shares at a $89.93 exercise price create potential dilution over a 10-year term.
• Minor point. Forward-looking: it has not happened yet and may not happen.6,604 restricted stock units create potential dilution as they vest.

News Explained

The company reports approved awards subject to vesting and, for options, exercise; if shares are ultimately issued under them, the share count would rise and existing holders’ ownership percentages would fall.

Key Figures

Stock options granted: 21,424 shares RSUs granted: 6,604 shares Option exercise price: $89.93 per share +4 more

Stock options granted

21,424 shares

Inducement awards to two non-executive employees

RSUs granted

6,604 shares

Inducement awards to two non-executive employees

Option exercise price

$89.93 per share

Set at the Oct. 1 closing price; matches the pre-publication prior daily close

Option term

10 years

Stock options granted under the inducement plan

Initial option vesting

1/4 of shares

On the first anniversary of each employee’s start date, subject to continued service

Subsequent option vesting

1/48 of shares monthly

After initial vesting, subject to continued service

RSU vesting

1/4 of shares

On each specified quarterly vesting date, subject to continued service

Key Terms

restricted stock units

1 terms

restricted stock units financial

"6,604 restricted stock units (“RSUs”) to two non-executive employees"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

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WALTHAM, Mass., Oct. 02, 2026 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the “Company” or “Spyre”), a clinical-stage biotechnology company committed to developing next-generation therapies that elevate the standard in immunology by delivering more complete disease control, greater durability, and a simpler treatment experience for patients, today announced that Spyre’s independent Compensation Committee of the Board of Directors approved the grant of stock options to purchase an aggregate of 21,424 shares of common stock of Spyre and 6,604 restricted stock units (“RSUs”) to two non-executive employees as equity inducement awards under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan, as amended (the “2018 Plan”). The stock options and RSUs were approved on October 1, 2026 and were material to each employee's acceptance of employment with Spyre, in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options were granted with a 10-year term and an exercise price equal to $89.93, the closing price per share of Spyre's common stock as reported by Nasdaq on October 1, 2026. The options granted to the employees shall vest and become exercisable as to one-fourth (1/4th) of the shares subject to the respective options on the first anniversary of the employee’s start date, and one-forty-eighth (1/48th) of the shares subject to the respective options shall vest and become exercisable monthly thereafter, in each case, subject to continuous service with Spyre through the applicable vesting dates. The RSUs granted to the employees shall vest as to one-fourth (1/4^th) of the shares subject to the respective RSUs on each anniversary of the next February 15, May 15, August 15, or November 15 occurring on or after the employee’s start date, subject to continuous service with Spyre through the applicable vesting dates. The stock options and RSUs are subject to the terms of the 2018 Plan.

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company committed to developing next-generation therapies that elevate the standard in immunology by delivering more complete disease control, greater durability, and a simpler treatment experience for patients. Spyre's pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, IL-23, and IL-17A/F as well as rational combination programs.

For more information, please visit http://spyre.com.

For Investors :
Eric McIntyre
SVP of Finance and Investor Relations
Spyre Therapeutics
Eric.mcintyre@spyre.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity inducement awards did Spyre Therapeutics approve?

Spyre approved options to purchase 21,424 common shares and 6,604 restricted stock units for two non-executive employees on October 1, 2026. The options have a $89.93 exercise price and a 10-year term. The awards fall under the amended 2018 Equity Inducement Plan.

What dates determine vesting for Spyre Therapeutics’ employee RSU awards?

The RSUs vest one-fourth on each anniversary of the next February 15, May 15, August 15, or November 15 occurring on or after the employee’s start date. Vesting requires continuous service with Spyre through each applicable vesting date.