Burrows Scott L 4
4 · Spyre Therapeutics, Inc. · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Spyre (SYRE) CFO Scott Burrows Exercises Options and Sells Shares
What Happened
- Scott L. Burrows, Chief Financial Officer of Spyre Therapeutics (SYRE), exercised options to acquire 7,500 shares at $14.50 per share (cost $108,750) on June 1, 2026, and sold 7,500 shares the same day in multiple open‑market transactions for aggregate proceeds of approximately $532,937. The sale was executed under a Rule 10b5‑1 trading plan.
Key Details
- Transaction date: June 1, 2026; Form 4 filed June 3, 2026 (timely — within the two‑business‑day reporting window).
- Option exercise: 7,500 shares acquired at $14.50 = $108,750 cash paid.
- Open‑market sales (total disposed = 7,500 shares for ~$532,937):
- 1,801 shares at weighted avg $69.75 (range $69.37–$70.36) — $125,620
- 2,599 shares at weighted avg $70.77 (range $70.38–$71.34) — $183,931
- 3,100 shares at weighted avg $72.06 (range $71.54–$72.14) — $223,386
- A separate derivative disposition of 7,500 shares at $0 is reported on the form (listed as a derivative conversion/settlement; no cash was received for that line).
- Holdings noted in footnotes: 67,476 RSUs (vesting in Sept 2026 & 2027) and an option right for 404,857 shares (vesting schedule described).
Context
- This is effectively a cashless exercise: Burrows exercised options and sold the same number of shares the same day. That is a common way for insiders to cover option exercise costs and taxes and does not necessarily indicate a change in his view of the company.
- Sales were done via an established 10b5‑1 plan (adopted Nov 10, 2025), which specifies pre‑arranged trading instructions and helps distinguish routine, planned sales from ad‑hoc trades.
Insider Transaction Report
Form 4
Burrows Scott L
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-06-01$14.50/sh+7,500$108,750→ 105,494 total - Sale
Common Stock
[F1][F2]2026-06-01$69.75/sh−1,801$125,620→ 103,693 total - Sale
Common Stock
[F1][F3]2026-06-01$70.77/sh−2,599$183,931→ 101,094 total - Sale
Common Stock
[F1][F4][F5]2026-06-01$72.06/sh−3,100$223,386→ 97,994 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F6]2026-06-01−7,500→ 374,857 totalExercise: $14.50Exp: 2033-09-01→ Common Stock (7,500 underlying)
Footnotes (6)
- [F1]This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on November 10, 2025.
- [F2]The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $69.37 to $70.36, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the range.
- [F3]The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $70.38 to $71.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F4]The price reported above is a weighted average price. The shares were sold in multiple transactions at prices ranging from $71.54 to $72.14, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range.
- [F5]Includes 67,476 restricted stock units ("RSUs"). Each RSU represents a contingent right to receive, upon vesting, one share of Common Stock. The RSUs vest in two equal installments on each of September 1, 2026 and 2027, subject to the Reporting Person's continued employment with the Issuer.
- [F6]This option represents a right to purchase 404,857 shares of the Issuer's common stock (which have been adjusted to reflect the Issuer's 1-for-25 reverse stock split on September 8, 2023), one quarter of which vested and became exercisable on September 1, 2024, with the remaining three quarters vesting in monthly installments over the following three years, subject to the Reporting Person's continued employment with the Issuer.
Signature
/s/ Heidy King-Jones, as Attorney-in-Fact|2026-06-03