Maria Palasis - 09 Dec 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.
Issuer symbol: LYRA
Transactions as of: 09 Dec 2024
Net transactions value: $0
Form type: 4
Filing time: 11 Dec 2024, 18:54:43 UTC
Previous filing: 18 Oct 2024
Next filing: 10 Jan 2025
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	Employee Stock Option (right to buy)	Award	$0	+183,333		$0.000000	183,333	09 Dec 2024	Common Stock	183,333	$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.