Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 4, 2023, the Board of Directors (the "Board") of Seres Therapeutics, Inc. (the "Company") increased its size to provide for a total of ten directors authorized to serve on the Board and appointed Claire Fraser, Ph.D. as a Class II director of the Company. Dr. Fraser has been appointed to serve on the Audit Committee of the Board (the "Audit Committee").

Dr. Fraser will participate in the Company's standard compensation program for non-employee directors, including an annual retainer of $45,000, an annual retainer for service on the Audit Committee of $10,000 and an initial award of an option to purchase 48,000 shares of the Company's common stock (the "Initial Award"). The Initial Award has an exercise price equal to $5.47, the closing price per share of the Company's common stock on the date of grant, and will vest and become exercisable in equal installments on each of the first four anniversaries of the date of grant or in full immediately prior to the occurrence of a change in control, subject to continued service on the Board through each such vesting date.

Dr. Fraser has also entered into the Company's standard indemnification agreement for directors and officers.

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