Burrows Scott L 4

What Happened

• Scott L. Burrows, Chief Financial Officer of Spyre Therapeutics (SYRE), exercised stock options and sold the resulting shares on May 1, 2026. The filing shows an exercise (M) of 12,500 shares at a $14.50 strike (cost $181,250) and an open-market sale (S) of 12,500 shares at $71.37, generating $892,125 in proceeds. Net proceeds (sale minus exercise cost) were about $710,875 before taxes and fees. The transactions were executed under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: May 1, 2026.
• Exercise: 12,500 shares @ $14.50 = $181,250 (acquired).
• Sale: 12,500 shares @ $71.37 = $892,125 (disposed).
• Additional derivative line: 12,500 shares listed as disposed at $0 (see filing — likely related to the exercise/settlement mechanics).
• Shares owned after transaction: not specified in the excerpt provided; the filing includes derivative/award holdings described below.
• Notable footnotes:
  • F1: Trades executed pursuant to a Rule 10b5-1 plan adopted Nov 10, 2025.
  • F2: Reporting person holds 67,476 RSUs that vest in two equal installments on Sept 1, 2026 and Sept 1, 2027 (subject to continued employment).
  • F3: Reporting person has an option covering 404,857 shares (adjusted for a prior 1-for-25 reverse split); one quarter vested on Sept 1, 2024 with the remainder vesting monthly over the next three years (subject to continued employment).
• Filing timeliness: Reported on May 1, 2026 (no late-filing indication in the provided data).

Context

• This was an exercise of options followed by an immediate sale of shares (a common, routine practice often used to cover exercise costs and taxes). The presence of a 10b5-1 plan indicates the sale schedule was pre-established. Sales are generally less informative about insider sentiment than outright purchases; here the filing documents routine option exercise and disposition rather than an incremental buy.