Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 611

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 611
---
 public resources available to New Semnur, the New Semnur Board will approve the following base salaries, target bonuses on terms and conditions to be determined by the New Semnur Board, the payment of which shall not commence until such time as the Oramed Note has been repaid in full or Oramed has otherwise consented to such compensation arrangements:SalaryTarget BonusJaisim Shah$1,100,000150%Henry Ji, Ph.D.$1,100,000150%Stephen Ma$345,00060%374
SEMNUR’S DIRECTOR COMPENSATION Semnur’s directors during the year ended December 31, 2024 are Dr. Ji and Mr. Shah, Semnur’s Chief Executive Officer and President. Neither Dr. Ji nor Mr. Shah received any compensation for their service as directors of Semnur during such time. New Semnur Director Compensation Following the Business Combination It is currently anticipated that, upon the closing of the Business Combination, the New Semnur Board will approve the following compensation for New Semnur’s non-employeedirectors:

| Annual Cash Compensation                                                                                 |     | Amount |        |
|:---------------------------------------------------------------------------------------------------------|:----|:-------|-------:|
| Board Members                                                                                            |     | $      | 82,500 |
| Chairs of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee  |     | $      | 37,500 |
| Members of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee |     | $      | 15,000 |

| Equity Compensation   |     | Number |         |
| Initial Stock Options |     |        | 250,000 |
| Annual Stock Options  |     |        | 100,000 |

All annual cash compensation amounts for New Semnur’s non-employee directorsare expected to be payable in equal quarterly installments in arrears, following the end of each quarter in which the service occurred, pro-rated forany partial months of service. The equity compensation to be paid to New Semnur’s non-employee directorswill vest monthly over a period of 48 months from the date of grant with respect to the initial stock option grants and over a period of 12 months from the date of grant with respect to the annual stock option grants, in each case, subject to continued service through each vesting date. Additionally, New Semnur will reimburse each outside director for reasonable travel expenses related to such director’s