Maria Palasis - 16 Feb 2022 Form 4 Insider Report for Lyra Therapeutics, Inc. (LYRA)

Role: President & CEO, Director
Signature: /s/ Jason Cavalier, Attorney-in-Fact for Maria Palasis, Ph.D.
Issuer symbol: LYRA
Transactions as of: 16 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 18 Feb 2022, 16:12:53 UTC
Previous filing: 15 Feb 2022
Next filing: 02 Feb 2023
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LYRA	Stock Option	Award	$0	+175,000		$0.000000	175,000	16 Feb 2022	Common Stock	175,000	$4.21	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On February 16, 2022, the Reporting Person was granted an option to purchase 175,000 shares of common stock. The option vests and becomes exercisable as to 58,333 shares underlying the option when the Issuer's market capitalization reaches $250,000,000; (ii) 58,333 shares underlying the option when the Issuer's market capitalization reaches $350,000,000; and (iii) 58,334 shares underlying the option when the Issuer's market capitalization reaches $500,000,000, all subject to the Reporting Person's continued service to the Issuer through each such date.

Content

On February 16, 2022, the Reporting Person was granted an option to purchase 175,000 shares of common stock. The option vests and becomes exercisable as to 58,333 shares underlying the option when the Issuer's market capitalization reaches $250,000,000; (ii) 58,333 shares underlying the option when the Issuer's market capitalization reaches $350,000,000; and (iii) 58,334 shares underlying the option when the Issuer's market capitalization reaches $500,000,000, all subject to the Reporting Person's continued service to the Issuer through each such date.