Fairmount Healthcare Fund II L.P. 4
4 · Spyre Therapeutics, Inc. · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Spyre Therapeutics (SYRE) Director Fairmount Funds Sells 4.68M Shares
What Happened
Fairmount Funds Management LLC (investment manager linked to a director) completed a large sale of Spyre Therapeutics (SYRE) stock on June 23, 2026. The filing shows an open-market/private-sale disposition of 4,684,781 common shares at $85.31 per share, netting approximately $399.66 million. On the same day the reporting persons converted 16,667 shares of Series B Convertible Preferred Stock into 666,680 common shares for no cash consideration; the related preferred shares were therefore disposed (converted).
Key Details
- Transaction date: June 23, 2026. Sale price: $85.31 per share. Total proceeds ≈ $399,658,667.
- Conversion: 16,667 shares of Series B preferred → 666,680 common shares (conversion ratio 40:1), no cash paid.
- Reported dispositions include the converted preferred (derivative) being converted/disposed and the sale of common shares.
- Shares owned after transaction: not specified in the provided excerpt of the Form 4.
- Footnotes: F1/F3 — Series A/B preferred convert at 40:1 and are subject to a 9.99% beneficial ownership conversion limit. F2 — Fairmount is the manager for Fairmount Healthcare Fund II L.P.; managers (Peter Harwin, Tomas Kiselak) disclaim beneficial ownership except pecuniary interest. Remark notes Tomas Kiselak serves on the issuer’s board and is a managing member of Fairmount.
- Filing timing: reported with a Form 4 dated and filed for the transaction date (no late-filing flag noted).
Context
This filing reflects an institutional manager converting preferred shares into common stock and immediately selling a large block of common shares. Because Fairmount is an investment manager (not an individual executive) and the filing includes conversion mechanics and beneficial-ownership limits, the move likely reflects fund-level liquidity/positioning rather than a personal trade by an executive. As always, sales by insiders or affiliated funds are factual events and not direct proof of company prospects.
Insider Transaction Report
- Conversion
Common Stock
[F1][F2]2026-06-23+666,680→ 4,684,781 total(indirect: By Fairmount Healthcare Fund II L.P.) - Sale
Common Stock
[F2]2026-06-23$85.31/sh−4,684,781$399,658,667→ 0 total(indirect: By Fairmount Healthcare Fund II L.P.) - Conversion
Series B Preferred Stock
[F1][F2]2026-06-23−16,667→ 0 total(indirect: Fairmount Healthcare Fund II LP)→ Common Stock (666,680 underlying)
- 406,038(indirect: By Tomas Kiselak)
Common Stock
- 406,038(indirect: By Peter Harwin)
Common Stock
- 346,045(indirect: Fairmount Healthcare Fund II LP)
Series A Preferred Stock
[F3][F2]→ Common Stock (13,841,800 underlying)
Footnotes (3)
- [F1]Each share of Series B Preferred Stock is convertible at the option of the holder into 40 shares of Common Stock, subject to certain beneficial ownership limitations, including that a holder of Series B Preferred Stock is prohibited from converting shares of Series B Preferred Stock into shares of Common Stock if, as a result of such conversion, such holder, together with its affiliates, would beneficially own more than 9.99% of the total number of shares of Common Stock issued and outstanding immediately after giving effect to such conversion. On June 23, 2026, the Reporting Persons converted 16,667 shares of Series B Preferred Stock into 666,680 shares of Common Stock for no cash consideration, in accordance with the Certificate of Designations for the Series B Convertible Preferred Stock.
- [F2]Fairmount Funds Management LLC ("Fairmount") is the investment manager for Fairmount Healthcare Fund II L.P. The managers of Fairmount are Peter Harwin and Tomas Kiselak. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.
- [F3]Each share of Series A Preferred Stock is convertible at the option of the holder into 40 shares of Common Stock, subject to certain beneficial ownership limitations, including that a holder of Series A Preferred Stock is prohibited from converting shares of Series A Preferred Stock into shares of Common Stock if, as a result of such conversion, such holder, together with its affiliates, would beneficially own more than 9.99% of the total number of shares of Common Stock issued and outstanding immediately after giving effect to such conversion.