Spyre Therapeutics (SYRE) Director Jeffrey Albers Exercises Options, Sells Shares

What Happened

• Jeffrey W. Albers, a director of Spyre Therapeutics (SYRE), exercised stock options to acquire 5,000 shares at $10.39 per share (cost $51,950) on August 7, 2026, and sold a total of 23,000 common shares in open-market transactions the same day for aggregate proceeds of about $2,404,190. The weighted-average sale price across the three reported sale blocks was about $104.53 per share.
• The filing also shows a separate derivative/option entry for 5,000 shares disposed at $0 (reported as a derivative conversion/disposition). The underlying option position described in the filing represents a right to purchase 50,000 shares that vests in 36 equal monthly installments beginning November 22, 2023.

Key Details

• Transaction date: August 7, 2026; Form 4 filed August 10, 2026 (timely filing).
• Sales (open market): 5,000 shares at weighted avg $104.47 = $522,350 (prices ranged $103.59–$105.65); 8,000 shares at weighted avg $104.38 = $835,040 (prices ranged $103.52–$105.54); 10,000 shares at weighted avg $104.68 = $1,046,800 (prices ranged $103.60–$106.01).
• Exercise: 5,000 shares acquired at $10.39 per share = $51,950.
• Aggregate proceeds from sales: approx. $2,404,190; aggregate shares sold: 23,000.
• Shares owned after the transactions: not specified in the provided summary.
• Notable footnotes:
  • Some sales were executed pursuant to a Rule 10b5-1 trading plan adopted April 16, 2026 (prearranged trading plan).
  • Reported sale prices are weighted averages; the filing provides price ranges and offers to provide breakdowns on request.
  • The option referenced vests monthly over 36 months (50,000-share grant), per the filing.

Context

• Albers exercised options and sold shares the same day — a pattern often seen when insiders exercise and immediately sell (sell-to-cover or cashless exercise). The Form 4 separates the exercise and sale entries; it does not prove intent or sentiment.
• Because some sales were executed under a 10b5-1 plan, those trades were prearranged and may not reflect contemporaneous views on the company.
• These are director-level transactions (not a 10% owner); purchases generally carry more informational weight than routine, preplanned sales.