Termination of Material Agreement (Form 8-K)

Item 1.02 Termination of a Material Definitive Agreement.

Termination of 880 Winter Street Sublease (Waltham, Massachusetts)

On April 13, 2026, Lyra Therapeutics, Inc. (the "Company") entered into a Termination of Sublease with RVAC Medicines (US), Inc. to terminate the Company's sublease for approximately 23,704 rentable square feet at 880 Winter Street, Waltham, Massachusetts. The sublease, dated December 21, 2023, terminated effective as of March 31, 2026, with the Company required to surrender the premises no later than May 31, 2026.

As consideration, the Company agreed to pay a termination payment of $2,100,000.00. Upon the Company's completion of its surrender obligations and receipt of the termination payment, RVAC will release and return the Company's $600,501.32 letter of credit security deposit. The Company's rent obligations terminated as of January 31, 2026.