Management Change/Compensation Form 8 K

On December 12, 2024, Michael Altman and Konstantin Poukalov each resigned from the Board of Directors (the "Board") of Lyra Therapeutics, Inc., effective immediately.

On December 13, 2024, in order to achieve an equal balance of membership among the classes of directors, the Board determined to move Maria Palasis, Ph.D. from Class III with a term expiring at the 2026 Annual Meeting of Stockholders to Class I with a term expiring at the 2027 Annual Meeting of Stockholders. Accordingly, on the same date, Dr. Palasis, who was a Class III Director, resigned as a director and was immediately elected by the Board as a Class I Director. The resignation and re-electionof Dr. Palasis was effected solely to rebalance the Board's classes and, for all other purposes, Dr. Palasis's service on the Board is deemed to have continued uninterrupted. The Board now consists of two Class I Directors, two Class II Directors, and two Class III Directors.