Spyre Therapeutics Announces Grants of Inducement Awards

Rhea-AI Summary

Spyre Therapeutics (NASDAQ: SYRE) announced on Oct 3, 2025 that its independent Compensation Committee approved inducement stock option awards to three non-executive employees under the 2018 Equity Inducement Plan.

The awards, approved on Oct 1, 2025, total 42,500 options with a 10-year term and an exercise price of $16.46—the Nasdaq closing price on Oct 1, 2025. Options vest 25% on the first anniversary of each employee’s start date and then monthly at 1/48th thereafter, subject to continued service, and remain subject to the terms of the 2018 Plan.

WALTHAM, Mass., Oct. 03, 2025 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the “Company” or “Spyre”), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, dose optimization, and rational therapeutic combinations to target improved efficacy and convenience in the treatment of IBD and other immune-mediated diseases, today announced that Spyre’s independent Compensation Committee of the Board of Directors approved the grant of stock options to purchase an aggregate of 42,500 shares of common stock of Spyre to three non-executive employees as equity inducement awards under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan, as amended (the “2018 Plan”). The stock options were approved on October 1, 2025 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 $16.46, the closing price per share of Spyre's common stock as reported by Nasdaq on October 1, 2025. The options granted to each employee 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 stock options are subject to the terms of the 2018 Plan.

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company that aims to create next-generation inflammatory bowel disease (IBD) and other immune-mediated disease products by combining best-in-class antibody engineering, dose optimization, and rational therapeutic combinations. Spyre’s pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23. For more information, visit Spyre's website at www.spyre.com. 

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

FAQ

What did Spyre (SYRE) announce on Oct 3, 2025 regarding inducement awards?

Spyre announced grants of 42,500 stock options to three non-executive employees as inducement awards approved Oct 1, 2025.

What is the exercise price and term of the SYRE inducement stock options?

Each option has a 10-year term and an exercise price of $16.46, the Nasdaq closing price on Oct 1, 2025.

How do the SYRE inducement options vest for employees?

Options vest 25% on the first anniversary of start date, then monthly at 1/48th thereafter, subject to continuous service.

Were the SYRE option grants tied to Nasdaq rules or approval?

Yes. Grants were approved as inducement awards in accordance with Nasdaq Listing Rule 5635(c)(4).

Do the SYRE inducement awards immediately dilute existing shareholders?

The press release discloses 42,500 options granted but does not state Spyre’s total shares outstanding or percent dilution.