Fairmount Healthcare Fund II L.P. 4

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.