Spyre Therapeutics Announces Grants of Inducement Awards Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the Company or Spyre ), a clinical-stage biotechnology company utilizing best-in-class antibody...
Friday, November 1, 2024 1 min read
Key Takeaway: Spyre Therapeutics, Inc. (NASDAQ: SYRE) announced the granting of stock options as part of its employee inducement awards. These options have a 10-year term and an exercise price of $33.98, which is aligned with the company's common stock closing price as of November 1, 2024. Each award will vest after one year and subsequently on a monthly basis, contingent upon continued service with the company.
The exercise price is set at a favorable closing price.
Full Press Release Details
The stock options were granted with a 10-year term and an exercise price equal to $33.98 the closing price per share of Spyre's common stock as reported by Nasdaq on November 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
Follow Spyre Therapeutics on social media: @spyretx and LinkedIn
SOURCE Spyre Therapeutics, Inc.
21 %
Frequently Asked Questions
What is the exercise price of Spyre's stock options?
The exercise price for Spyre's stock options is $33.98.
When do Spyre's stock options begin to vest?
Stock options vest one year after the employee's start date.
How often do Spyre stock options vest after the first year?
After the first year, options vest monthly at 1/48th of the total shares.
What is the term length for Spyre's stock options?