Spyre CFO sells 25,732 shares after option exercise
Rhea-AI Filing Summary
Spyre Therapeutics, Inc. (SYRE) reported that Chief Financial Officer Scott L. Burrows exercised stock options for 7,500 shares of common stock on September 1, 2026 at an exercise price of $14.50 per share, then sold portions of the resulting shares in multiple open-market transactions that day at weighted-average prices between $86.25 and $89.04, pursuant to a Rule 10b5-1 trading plan adopted on November 10, 2025. On September 2, 2026 he also sold 18,232 shares at $89.35 per share to satisfy tax withholding obligations in connection with the settlement of 33,738 restricted stock units, described as a sell-to-cover transaction rather than a discretionary trade. Following the option exercise, he continued to hold options covering 337,357 shares of common stock expiring on September 1, 2033.
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Insights
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Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
7 txns
Insider
Burrows Scott L
Role
Chief Financial Officer
Sold
25,732 shs ($2.28M)
Approx. gross sale proceeds
$2.28M
Approx. exercise cost
$109K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F6, F7 | 18,232 | $89.35 | $1.63M |
| Exercise | Stock Option (Right to Buy) F1, F8 | 7,500 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 7,500 | $14.50 | $109K |
| Sale | Common Stock F1, F2 | 900 | $86.25 | $78K |
| Sale | Common Stock F1, F3 | 4,384 | $87.11 | $382K |
| Sale | Common Stock F1, F4 | 2,016 | $88.03 | $177K |
| Sale | Common Stock F1, F5 | 200 | $89.04 | $18K |
Holdings After Transaction:
Stock Option (Right to Buy) — 337,357 contracts (Direct);
Common Stock — 79,762 shares (Direct)
Footnotes (8)
- F1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on November 10, 2025.
- F2. The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $85.60 to $86.53, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range.
- F3. The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $86.60 to $87.57, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range.
- F4. The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $87.64 to $88.59, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range.
- F5. The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $88.69 to $89.38, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range.
- F6. The transaction reported reflects the sale of shares of the Issuer's common stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 33,738 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.
- F7. Includes 33,738 RSUs. Each RSU represents a contingent right to receive, upon vesting, one share of the Issuer's common stock. The RSUs vest on September 1, 2027, subject to the Reporting Person's continued employment with the Issuer.
- F8. This option represents a right to purchase 404,857 shares of the Issuer's common stock (which have been adjusted to reflect the Issuer's 1-for-25 reverse stock split on September 8, 2023), one quarter of which vested and became exercisable on September 1, 2024, with the remaining three quarters vesting in monthly installments over the following three years, subject to the Reporting Person's continued employment with the Issuer.
Key Figures
Total shares sold: 25,732 shares
Option shares exercised: 7,500 shares
Option exercise price: $14.50 per share
+4 more
7 metrics
Total shares sold
25,732 shares
Aggregate open-market and tax-related sales reported across September 1–2, 2026
Option shares exercised
7,500 shares
Options exercised into common stock on September 1, 2026
Option exercise price
$14.50 per share
Exercise price for 7,500 stock options converted on September 1, 2026
September 1 sale price range
$86.25–$89.04 per share
Weighted-average prices for multiple open-market sales on September 1, 2026
Tax-related sale
18,232 shares at $89.35 per share
Sell-to-cover transaction on September 2, 2026 to satisfy tax liabilities
Remaining options held
337,357 shares
Stock options for common shares held after the reported exercise, expiring September 1, 2033
RSUs referenced
33,738 RSUs
Restricted stock units linked to the tax-related sell-to-cover transaction; scheduled to vest September 1, 2027
Key Terms
Rule 10b5-1 trading plan, weighted average price, restricted stock units ("RSUs"), sell to cover, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"This transaction was executed pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported above is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
restricted stock units ("RSUs") financial
"settlement of 33,738 restricted stock units ("RSUs")"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
sell to cover financial
"through a "sell to cover" transaction and does not represent a discretionary trade"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
reverse stock split financial
"adjusted to reflect the Issuer's 1-for-25 reverse stock split"
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
FAQ
What insider transactions did SYRE’s CFO report on this Form 4?
Scott L. Burrows reported exercising options for 7,500 shares of Spyre Therapeutics common stock and selling 25,732 shares in total across September 1–2, 2026, including open-market sales and a tax-related sell-to-cover transaction.
Were the SYRE CFO’s trades under a Rule 10b5-1 plan?
Yes. The option exercise and related September 1, 2026 sales are disclosed as executed under a Rule 10b5-1 trading plan adopted on November 10, 2025. The filing also affirms use of a Rule 10b5-1 plan at the document level.
How many Spyre Therapeutics options does the SYRE CFO still hold after these transactions?
After exercising 7,500 options, Scott L. Burrows is reported as holding options covering 337,357 shares of Spyre Therapeutics common stock, with an exercise price of $14.50 per share and an expiration date of September 1, 2033.
What are the vesting terms of the RSUs referenced in the SYRE Form 4?
The filing notes 33,738 RSUs, each representing one share of common stock upon vesting. These RSUs are scheduled to vest on September 1, 2027, subject to Scott L. Burrows’ continued employment with Spyre Therapeutics.
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