Spyre Therapeutics Announces Grants of Inducement Awards

Rhea-AI Summary

Spyre Therapeutics (NASDAQ: SYRE) announced that its independent Compensation Committee approved inducement stock options for 19,600 shares to one non-executive employee under the 2018 Equity Inducement Plan. The grants were approved on November 3, 2025, have a 10-year term, and an exercise price equal to the $23.78 Nasdaq closing price on November 3, 2025. Vesting is one-fourth on the first anniversary of the employee’s start date and then 1/48th monthly thereafter, subject to continuous service. The options were described as material to the employee’s acceptance of employment under Nasdaq Listing Rule 5635(c)(4).

Positive

• 19,600 stock options granted as employment inducement
• Exercise price set at market close: $23.78 per share
• Options have a 10-year contractual term

Negative

• Granted 19,600 options may cause shareholder dilution upon exercise
• Vesting spreads over >3 years (quarter after first year plus monthly thereafter)

WALTHAM, Mass., Nov. 07, 2025 (GLOBE NEWSWIRE) -- Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the “Company” or “Spyre”), a clinical-stage biotechnology company pioneering long-acting antibodies and antibody combinations to redefine the standard of care for inflammatory bowel disease (“IBD”) and rheumatic diseases, today announced that Spyre’s independent Compensation Committee of the Board of Directors approved the grant of stock options to purchase 19,600 shares of common stock of Spyre to one non-executive employee as equity inducement awards under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan, as amended (the “2018 Plan”). The stock options were approved on November 3, 2025 and were material to the 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 $23.78, the closing price per share of Spyre's common stock as reported by Nasdaq on November 3, 2025. The options granted to the 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 pioneering long-acting antibodies and antibody combinations to redefine the standard of care for inflammatory bowel disease (“IBD”) and rheumatic diseases. Spyre's pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23.

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

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

FAQ

What did Spyre Therapeutics (SYRE) announce on November 7, 2025 regarding inducement awards?

Spyre announced approval of stock options to purchase 19,600 shares as inducement awards granted November 3, 2025.

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

The options carry an exercise price of $23.78 per share and a 10-year term.

How do the SYRE inducement options vest for the employee?

Vesting is 1/4 on the first anniversary of start date and 1/48 monthly thereafter, subject to continuous service.

Why were the stock options granted to the employee under SYRE’s 2018 Plan?

The Compensation Committee approved the options as equity inducement awards that were material to the employee’s acceptance of employment under Nasdaq rules.

Will the SYRE inducement option grant dilute existing shareholders?

The grant may result in dilution if options are exercised; the company reported 19,600 shares subject to the options.

When were the SYRE inducement options approved and reported?

The options were approved on November 3, 2025 and announced on November 7, 2025.