Maria Palasis - Feb 16, 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.
Stock symbol: LYRA
Transactions as of: Feb 16, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/18/2022, 04:12 PM
Previous filing: Feb 15, 2022
Next filing: Feb 2, 2023

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	+175K		$0.00	175K	Feb 16, 2022	Common Stock	175K	$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.