Form 4: Spyre Therapeutics Director Exchange Preferred Stock for Common Stock

Fairmount Funds Management LLC, along with related entities and individuals, converted Series A Preferred Stock into Common Stock of Spyre Therapeutics, Inc. on April 25, 2024.

Summary

• On April 25, 2024, Fairmount Healthcare Fund II L.P. exchanged 90,992 shares of Series A Non-Voting Convertible Preferred Stock for 3,639,680 shares of Common Stock of Spyre Therapeutics, Inc.
• The transaction was executed pursuant to an Exchange Agreement dated April 23, 2024.
• Following the transaction, Fairmount Healthcare Fund II L.P. beneficially owns 4,018,101 shares of Common Stock indirectly.
• Tomas Kiselak and Peter Harwin, managing members of Fairmount Funds Management LLC, each indirectly own 406,038 shares of Common Stock.
• Each share of Series A Preferred Stock is convertible into 40 shares of Common Stock, subject to beneficial ownership limitations.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock conversion. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about ownership changes.

Industry Context

This Form 4 filing indicates changes in beneficial ownership by significant shareholders, which is a routine part of corporate governance and regulatory compliance. It reflects the investment decisions and strategies of major investors in Spyre Therapeutics.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' ownership, but it also simplifies the capital structure of the company.
• The actions of major shareholders like Fairmount Funds Management can influence investor confidence and market perception of Spyre Therapeutics.

Key Dates