Maria Palasis - Dec 9, 2024 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: Dec 9, 2024
Transactions value $: $0
Form type: 4
Date filed: 12/11/2024, 06:54 PM
Previous filing: Oct 18, 2024

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	Employee Stock Option (right to buy)	Award	$0	+183K		$0.00	183K	Dec 9, 2024	Common Stock	183K	$6.07	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On March 21, 2024, the Reporting Person was granted a performance stock option ("PSO") for an aggregate of up to 550,000 shares of common stock under the Issuer's 2020 Incentive Award Plan (the "Agreement"). Under the terms of the Agreement, the underlying PSO shares will vest upon certain milestone events. On December 9, 2024, the Issuer determined that Milestone 1 of the PSO was achieved, resulting in 183,333 PSOs being earned. The earned PSOs will vest on January 31, 2028.

Content

On March 21, 2024, the Reporting Person was granted a performance stock option ("PSO") for an aggregate of up to 550,000 shares of common stock under the Issuer's 2020 Incentive Award Plan (the "Agreement"). Under the terms of the Agreement, the underlying PSO shares will vest upon certain milestone events. On December 9, 2024, the Issuer determined that Milestone 1 of the PSO was achieved, resulting in 183,333 PSOs being earned. The earned PSOs will vest on January 31, 2028.