Spyre Therapeutics Grants Stock Options to Boost Team Growth
Spyre Therapeutics Grants Stock Options to Non-Executive Employees
Spyre Therapeutics, Inc. (NASDAQ: SYRE), a biotechnology company specializing in innovative treatments for immune-mediated diseases, has made a pivotal decision to grant stock options as part of its equity inducement awards. The independent Compensation Committee of Spyre's Board of Directors has approved the issuance of options to purchase 50,200 shares of the company’s common stock to three non-executive employees under the 2018 Equity Inducement Plan.
Details of the Stock Options Granted
The stock options authorized are significant to each employee's commitment to Spyre, aligning with Nasdaq Listing Rule 5635(c)(4). These options come with a generous 10-year term and have an exercise price set at $15.40, which reflects the closing price per share as recorded on the date of approval.
Each employee will see their options vested and becoming exercisable in a structured manner. Specifically, after completing a year with the company, one-fourth (1/4th) of their options will vest. Following this, one-forty-eighth (1/48th) of their options will vest and become exercisable monthly, provided they maintain their role at Spyre throughout the vesting period.
Empowering Employees for Future Success
This initiative illustrates Spyre's commitment to fostering a motivated workforce focused on achieving innovative breakthroughs in the field of inflammatory bowel disease (IBD) treatments. By providing stock options, Spyre not only incentivizes its employees but also aligns their success directly with the company's growth and performance.
About Spyre Therapeutics
Spyre Therapeutics is on a mission to develop next-generation therapies aimed at treating IBD and other immune-mediated diseases. The company utilizes advanced antibody engineering techniques paired with carefully considered therapeutic combinations to enhance efficacy and convenience in treatment. Their current pipeline features investigational therapies focused on ?4?7, TL1A, and IL-23 expressions, paving the way for potentially groundbreaking advancements in patient care.
Frequently Asked Questions
What are the stock options granted to Spyre employees?
The stock options allow employees to purchase shares at a fixed price, which can enhance their investment in the company.
Over what period do the stock options vest?
The options vest over a period of four years, with a quarter vesting on the first anniversary and monthly vesting thereafter.
What is the significance of the $15.40 exercise price?
The exercise price reflects the closing market price per share of Spyre at the time the options were granted, offering potential financial benefits to employees.
What is Spyre’s focus in biotechnology?
Spyre Therapeutics concentrates on innovative treatments for inflammatory bowel disease (IBD) and other immune-mediated disorders using advanced antibody engineering.
Where can I learn more about Spyre Therapeutics?
More information about the company and its pipeline can be found on Spyre's official website.
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