Spyre (SYRE) CFO Scott Burrows Exercises Options, Sells Shares

What Happened Scott L. Burrows, Chief Financial Officer of Spyre Therapeutics (SYRE), exercised 7,500 option-derived shares on Sept 1, 2026 at $14.50 per share (cost $108,750) and disposed of a total of 25,732 common shares in open-market sales across Sept 1–2, 2026 for aggregate gross proceeds of approximately $2,283,820. The transactions include sales executed under a Rule 10b5-1 trading plan and a “sell-to-cover” transaction to satisfy tax withholding related to RSU settlement.

Key Details

• Primary transactions:
  • 2026-09-01: Exercised 7,500 shares (M) at $14.50 — $108,750 cash paid.
  • 2026-09-01: Sold 900 shares (S) at a weighted avg $86.25 — $77,625 (prices ranged $85.60–$86.53).
  • 2026-09-01: Sold 4,384 shares (S) at a weighted avg $87.11 — $381,890 (prices ranged $86.60–$87.57).
  • 2026-09-01: Sold 2,016 shares (S) at a weighted avg $88.03 — $177,468 (prices ranged $87.64–$88.59).
  • 2026-09-01: Sold 200 shares (S) at $89.04 — $17,808.
  • 2026-09-02: Sold 18,232 shares (S) at a weighted avg $89.35 — $1,629,029 (prices ranged $88.69–$89.38).
  • 2026-09-01: A derivative conversion/related disposition of 7,500 shares at $0.00 is also reported (derivative-related entry).
• Total sold: 25,732 shares; total proceeds ≈ $2,283,820. Total acquired via exercise: 7,500 shares (paid $108,750).
• Shares owned after the transactions: Not specified in the filing.
• Notable footnotes:
  • F1: Some sales executed pursuant to a Rule 10b5-1 plan adopted Nov 10, 2025.
  • F2–F5: Reported sale prices are weighted averages; individual trade prices fall within the ranges shown and are available on request.
  • F6: One sale was a "sell-to-cover" to satisfy tax withholding related to settlement of 33,738 RSUs (not a discretionary trade).
  • F7: The reporting person holds 33,738 RSUs that vest on Sept 1, 2027 (subject to continued employment).
  • F8: The exercised option is part of a larger option covering 404,857 shares (adjusted for prior reverse split) with a multi-year vesting schedule.
• Filing timeliness: Form filed Sept 3, 2026 for transactions reported Sept 1–2, 2026; no late filing indicated.

Context

• Transaction codes: M = option exercise/conversion; S = open-market sale; F (as used in footnotes) refers to tax-withholding / sell-to-cover actions.
• The filing shows an option exercise followed by sizable open-market sales. Per footnotes, at least some sales were pre-planned (10b5-1) and some were to satisfy tax withholding for RSUs — these are routine administrative reasons for insider selling and do not, by themselves, indicate management sentiment.