Executive Chairman Harlan Waksal departs Lyra; CEO Palasis becomes Chair

Lyra Therapeutics, Inc.

Harlan W. Waksal's employment terminated effective August 1, 2025; he resigned from Board.
Dr. Waksal eligible for severance per employment agreement upon signing separation and release.
Maria Palasis, President & CEO, appointed Chair of the Board effective immediately.
Jim Tobin remains as Lead Independent Director.

item 5.02

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