GYRE

Business Context and Reporting Period

This Form 8-K filing by Targacept, Inc. (not Gyre Therapeutics, Inc.) reports on the 2014 Annual Meeting of Stockholders held on June 5, 2014. The filing details the outcomes of three specific matters submitted to a vote by security holders.

Key Financial Metrics

The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results rather than financial performance.

Material Changes and Voting Results

The following matters were approved or ratified by stockholders:

• Election of Directors: Julia R. Brown, Dr. Stephen A. Hill, and John P. Richard were elected as Class II directors for a term expiring at the 2017 annual meeting.
• Advisory Vote on Executive Compensation: Stockholders approved the compensation of named executive officers on an advisory basis.
• Auditor Ratification: The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2014, was ratified.

Voting Statistics:

Guidance, Outlook, and Risks

The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. It references a definitive proxy statement filed on April 18, 2014, for more complete descriptions of the matters voted upon.

Important Facts for Investors to Verify

• Verify the company name discrepancy: The filing is for Targacept, Inc., not Gyre Therapeutics, Inc.
• Confirm the tenure of the newly elected directors (Class II, expiring 2017).
• Review the April 18, 2014 proxy statement for detailed executive compensation data and director biographies.
• Note the significant number of broker non-votes (over 10 million) regarding director elections and executive compensation.