[Form 4/A] Lyra Therapeutics, Inc. Amended Insider Trading Activity

Rhea-AI Filing Summary

Lyra Therapeutics insider amendment corrects previously reported stock-option activity and clarifies current holdings. The reporting person, Maria Palasis, was originally granted performance stock options totaling 11,000 shares (stated as 550,000 pre-split) on 03/21/2024, but those PSOs were forfeited for no value on 02/14/2025. An earlier Form 4 filed on 10/03/2025 mistakenly reported the acquisition of 3,667 PSOs; this amended Form 4/A, filed on 10/08/2025, reverses that entry and states the Reporting Person currently does not beneficially own any of the PSOs granted on 03/21/2024. The filing was signed by an attorney-in-fact and notes the transaction price of the related employee stock option as $303.5 with an expiration of 03/20/2034.

Positive

• Corrective filing was submitted to reverse an erroneous acquisition report (Form 4/A filed 10/08/2025)
• Reporting person holds no PSOs from the March 21, 2024 grant after forfeiture on 02/14/2025, removing related potential dilution

Negative

• Erroneous Form 4 filed on 10/03/2025 initially reported acquisition of 3,667 PSOs, indicating an administrative or reporting error
• PSOs forfeited for no value on 02/14/2025, meaning the granted compensation did not vest into valuable equity

Insights

Corporate Governance Analyst

TL;DR: A corrective filing removes previously reported insider option holdings and confirms forfeiture of PSOs.

The reporting clarifies that the 11,000-share performance stock option grant from 03/21/2024 was entirely forfeited on 02/14/2025, leaving the reporting person with zero beneficial ownership of those PSOs. The amendment corrects an erroneous acquisition report dated 10/03/2025 that had listed 3,667 PSOs.

This reduces short-term insider ownership disclosure complexity and eliminates the previously reported option count as a near-term factor for shareholders; governance watchers should note the administrative error and the corrective filing dated 10/08/2025 as an item of record over the next quarter.

Equity Compensation Specialist

TL;DR: The PSOs were forfeited for no value and related option economics are no longer outstanding.

The original PSO grant provided up to 11,000 shares (pre-split equivalent 550,000) with an indicated exercise/option pricing reference of $303.5 and an expiration of 03/20/2034. The filing states the PSOs were forfeited on 02/14/2025, which removes potential dilution tied to this award.

Watch for future disclosures if new awards are granted or if similar administrative errors recur; any new grants would be material to dilution metrics within the next 12 months.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Palasis Maria

(Last) (First) (Middle)

C/O LYRA THERAPEUTICS, INC.

480 ARSENAL WAY

(Street)

WATERTOWN MA 02472

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lyra Therapeutics, Inc. [ LYRA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
10/03/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$303.5							(1)	03/20/2034	Common Stock	0		0	D

Explanation of Responses:

1. On March 21, 2024, the Reporting Person was granted a performance stock option ("PSO") for an aggregate of up to 11,000 shares of common stock (or 550,000 shares on a pre-split basis) under the Issuer's 2020 Incentive Award Plan. On February 14, 2025, the PSOs were forfeited in their entirety by the Reporting Person for no value.

Remarks:

On October 3, 2025, a Form 4 was inadvertently filed reporting the acquisition of 3,667 PSOs by the Reporting Person. In fact, the Reporting Person did not acquire the PSOs and this Form 4/A is being filed to correct the erroneously reported acquisition. As of the date hereof, the Reporting Person does not beneficially own any of the PSOs granted on March 21, 2024.

	/s/ Jason Cavalier, Attorney-in-Fact for Maria Palasis, Ph.D.	10/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Lyra Therapeutics (LYRA) Form 4/A correct?

The amendment reverses an earlier filing that mistakenly reported acquisition of 3,667 PSOs and confirms the Reporting Person does not beneficially own any PSOs from the 03/21/2024 grant.

How many PSOs were originally granted to Maria Palasis and what happened to them?

The grant was for up to 11,000 shares (stated as 550,000 pre-split); those PSOs were forfeited for no value on 02/14/2025.

Does Maria Palasis currently own any underlying shares from the PSO grant?

No. The Form 4/A states the Reporting Person does not beneficially own any of the PSOs granted on 03/21/2024.

Was there a price or expiration attached to the related options?

Yes. The employee stock option referenced a price of $303.5 and an expiration date of 03/20/2034.

When was the corrected Form 4/A filed?

The correction was filed and signed on 10/08/2025.