---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-21-048046"
form_type: "8-K"
ticker: "LYRA"
cik: "0001327273"
company_name: "Lyra Therapeutics, Inc."
filed_at: "2021-09-15T23:59:59+00:00"
generated_at: "2026-06-29T03:27:21.164109+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lyra Therapeutics appoints Jason Cavalier as CFO; R. Don Elsey to transition out

## Summary
- Jason Cavalier appointed CFO, Treasurer, Secretary, principal financial and accounting officer effective Sept 12, 2021.
- Cavalier receives $400K base salary, 40% target bonus, and option for 104,000 shares vesting over 4 years.
- Outgoing CFO R. Don Elsey will work full-time through Oct 6, then part-time until Dec 31, 2021 under a transition agreement.
- Elsey retains $375K base salary (prorated during part-time) and eligible for 2021 bonus up to 40% of actual salary earned.
- Cavalier also receives up to $6,250/month for travel between New York and Watertown, plus corporate apartment and tax gross-up.

## SEC filing metadata
- accession: 0001564590-21-048046
- form_type: 8-K
- ticker: LYRA
- cik: 0001327273
- company_name: Lyra Therapeutics, Inc.
- filed_at: 2021-09-15T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1327273/000156459021048046/0001564590-21-048046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1327273/000156459021048046/lyra-8k_20210912.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-21-048046
- JSON: https://secwatch.observer/filing/0001564590-21-048046.json
- Plain text: https://secwatch.observer/filing/0001564590-21-048046.txt

## Key facts
- Executive change
  R. Don Elsey departed as Chief Financial Officer at Lyra Therapeutics, Inc..
  - Action: succeeded
  - Role: Chief Financial Officer
  source text: Mr. Cavalier was also designated as the Company’s principal financial officer and principal accounting officer, and succeeds R. Don Elsey as Chief Financial Officer and principal financial officer and principal accounting officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327273/000156459021048046/0001564590-21-048046-index.htm
- Executive change
  Jason Cavalier was appointed as Chief Financial Officer, Treasurer and Secretary at Lyra Therapeutics, Inc..
  - Action: appointed
  - Role: Chief Financial Officer, Treasurer and Secretary
  source text: On September 12, 2021, the Board of Directors (the “Board”) of Lyra Therapeutics, Inc. (the “Company”) appointed Jason Cavalier as Chief Financial Officer, Treasurer and Secretary of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1327273/000156459021048046/0001564590-21-048046-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.