Lyra therapeutics announces inducement grant under nasdaq listing rule 5635(c)(4)

Watertown, mass., jan. 17, 2023 (globe newswire) -- lyra therapeutics, inc. (nasdaq: lyra) (the company or lyra), a clinical-stage biotechnology company developing therapies for the localized treatment of patients with chronic rhinosinusitis (crs), today announced that it has issued an equity-based award pursuant to its 2022 inducement award plan to its senior vice president of quality, gloria cosgrove, upon the commencement of her employment. the inducement grant was approved by a majority of the company's independent directors and was made as a material inducement to ms. cosgrove's acceptance of employment with lyra in accordance with nasdaq listing rule 5635(c)(4) as a component of her employment compensation. the inducement grant consists of a non-qualified stock option to purchase an aggregate of 100,000 shares of the company's common stock. the inducement grant is subject to the terms and conditions of the award agreement covering the performance stock option grant and the company's 2022 inducement award plan, as amended.
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