WALTHAM,
Mass., April 1, 2024 /PRNewswire/ -- Spyre
Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a
development-stage biotechnology company advancing best-in-class
antibody engineering, rational therapeutic combinations, and
precision medicine approaches for the treatment of Inflammatory
Bowel Disease ("IBD"), today announced that Spyre's independent
Compensation Committee of the Board of Directors approved the
grants of stock options to purchase an aggregate of 90,100 shares
of common stock of Spyre to 3 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 April 1, 2024 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 $37.00, the
closing price per share of Spyre's common stock as reported by
Nasdaq on April 1, 2024. 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 biotechnology company that aims to
create next-generation inflammatory bowel disease (IBD) products by
combining best-in-class antibody engineering, rational therapeutic
combinations, and precision medicine approaches. Spyre's pipeline
includes extended half-life antibodies targeting α4β7, TL1A, and
IL-23. For more information, visit Spyre's website at
www.spyre.com.
Follow Spyre Therapeutics on social media: @spyretx and
LinkedIn
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SOURCE Spyre Therapeutics, Inc.