--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-248476" form_type: "8-K" ticker: null cik: "0001556263" company_name: "Syros Pharmaceuticals, Inc." filed_at: "2023-10-02T23:59:59+00:00" generated_at: "2026-06-10T06:21:23.019308+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # Syros restructures with 35% staff cut; CEO Simonian retiring, Chee named successor ## Summary - Company ends SY-2101 APL program and all preclinical/discovery; focuses on tamibarotene for MDS/AML. - Workforce cut ~35%; expects $1.8-2.0M severance costs and $0.3-0.6M asset impairment in Q3 2023. - CEO Nancy Simonian retiring Dec 1; Conley Chee (CCO/CBO) appointed President & CEO effective Dec 2. - CSO Eric Olson departs Oct 16; receives $382,200 severance and accelerated vesting of 40,666 RSUs. - Board member Mark Alles resigned Sept 30; no disagreement cited. ## SEC filing metadata - accession: 0001193125-23-248476 - form_type: 8-K - cik: 0001556263 - company_name: Syros Pharmaceuticals, Inc. - filed_at: 2023-10-02T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 2.05, 5.02 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/d486037d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-248476 - JSON: https://secwatch.observer/filing/0001193125-23-248476.json - Plain text: https://secwatch.observer/filing/0001193125-23-248476.txt ## Key facts - Executive change Conley Chee was appointed as Class III director at Syros Pharmaceuticals, Inc.. - Action: appointed - Role: Class III director source text: The Board of Directors also approved an increase in the size of the Board of Directors to ten members and the appointment of Mr. Chee as a Class III director, in each case effective upon Mr. Chee’s assumption of the role of President and Chief Executive Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - Executive change Mark J. Alles resigned as Director at Syros Pharmaceuticals, Inc.. - Action: resigned - Role: Director source text: On September 28, 2023, Mark J. Alles notified the Board of Directors of the Company of his desire to resign from the Board of Directors and all committees or subcommittees thereof, effective September 30, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - Executive change Nancy Simonian retired as President and Chief Executive Officer at Syros Pharmaceuticals, Inc.. - Action: retired - Role: President and Chief Executive Officer source text: On September 28, 2023, Nancy Simonian, M.D., the President and Chief Executive Officer of the Company, provided the Company with notice of her desire and intention to retire, and on October 2, 2023, the Company announced Dr. Simonian’s retirement effective as of December 1, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - Executive change Conley Chee was appointed as President and Chief Executive Officer at Syros Pharmaceuticals, Inc.. - Action: appointed - Role: President and Chief Executive Officer source text: On October 2, 2023, the Company also announced that Conley Chee, currently the Company’s Chief Commercial Officer and Chief Business Officer, has been appointed by the Board of Directors to serve as the Company’s President and Chief Executive Officer effective as of December 2, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - Restructurings & Charges Syros Pharmaceuticals, Inc. announced a restructuring with charges of approximately $1.8 to $2.0 million affecting the Company's employee base, excluding members of its drug discovery organization (approximately 35% of the Company's employee base). - Type: restructuring - Charge: approximately $1.8 to $2.0 million - Affected area: the Company's employee base, excluding members of its drug discovery organization - Headcount: approximately 35% of the Company's employee base source text: The Restructuring is expected to be complete by the end of 2023. As a result of the Restructuring, the Company estimates that it will incur approximately $1.8 to $2.0 million in costs in the fiscal quarter ending September 30, 2023 resulting from cash expenditures consisting of severance and benefit payments, outplacement services and related expenses (including such expenses incurred in connection with the Pfizer Agreement Termination). evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm - Restructurings & Charges Syros Pharmaceuticals, Inc. announced a impairment with charges of approximately $0.3 to $0.6 million affecting laboratory equipment. - Type: impairment - Charge: approximately $0.3 to $0.6 million - Affected area: laboratory equipment source text: the Company estimates that it will incur asset impairment charges of approximately $0.3 to $0.6 million relating to the retirement of laboratory equipment. evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312523248476/0001193125-23-248476-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.