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

Watertown, mass., june 02, 2023 (globe newswire) -- lyra therapeutics, inc. (nasdaq: lyra) (“lyra” or the “company”), a clinical-stage biotechnology company developing innovative therapies for the localized treatment of 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 regulatory affairs, allison nance, upon the commencement of her employment. the inducement grant was approved by the company's independent directors serving on its compensation committee, and was made as a material inducement to ms. nance'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 110,000 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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