Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 611

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 611
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 filed a copy of our Code of Ethics and our audit committee charter as exhibits to the registration statement relating to our IPO.
You can review these documents by accessing our public filings at the SEC’s website at www.sec.gov. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K.

Section
16(a) Beneficial Ownership Reporting Compliance 

Section
16(a) of the Exchange Act, requires our executive officers, directors and persons who beneficially own more than 10% of a registered
class of our equity securities to file with the SEC initial reports of ownership and reports of changes in ownership of the ordinary
shares of the Company and other equity securities. These executive officers, directors, and greater than 10% beneficial owners are required
by SEC regulation to furnish us with copies of all Section 16(a) forms filed by such reporting persons.

Based
on a review of Section 16 filings with respect to the Company made during or with respect to the most recent fiscal year, we are not
aware of any late Section 16(a) filings other than one late Form 4 report filed by the sponsor and one late Form 4 report by Jiandong
Xu.

27

Item
11. Executive Compensation.

Executive
Officer and Director Compensation

None
of our executive officers or directors have received any cash compensation for services rendered to us. Our sponsor, executive officers
and directors, or their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities
on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit
committee will review on a quarterly basis all payments that were made by us to our sponsor, executive officers or directors, or their
affiliates. Any such payments prior to an initial business combination will be made using funds held outside the Trust Account. Other
than quarterly audit committee review of such reimbursements, we do not expect to have any additional controls in place governing our
reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection with our activities
on our behalf in connection with consummating an initial business combination. Other than these payments and reimbursements, no compensation
of any kind, including finder’s and consulting fees, will be paid by to our sponsor, executive officers and directors, or their
respective affiliates, prior to completion of our initial business combination.

After
the completion of our initial business