Burrows Scott L 4

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.