Aeglea BioTherapeutics Announces Grant of Inducement Awards

AUSTIN, Texas and WALTHAM, Mass., June 23, 2023 /PRNewswire/ -- Aeglea BioTherapeutics, Inc. ("Aeglea") (NASDAQ:AGLE) today announced that, in connection with the acquisition of Spyre Therapeutics, Inc. ("Spyre"), a majority of the independent members of Aeglea's Board of Directors approved the grant of stock options to new employees (including the new members of management) as equity inducement awards under the Aeglea BioTherapeutics, Inc. 2018 Equity Inducement Plan. The stock options were approved on June 21, 2023 and were material to each employee's acceptance of employment with Aeglea, in accordance with Nasdaq Listing Rule 5635(c)(4). Cameron Turtle, the Chief Operating Officer of Aeglea, received 47,297,197 stock options and the other four employees received a total of 16,120,218 stock options. The stock options have an exercise price equal to $0.30, vest in equal installments over a 48-month period subject to continuous service following the vesting commencement date and expire on the tenth anniversary of the date of grant.