Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 622

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 622
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nur Board encourages management to promote a culture that incorporates risk management into its corporate strategy and day-to-day business operations. Management discusses strategic and operational (including cybersecurity) risks at regular management meetings, and conducts specific strategic planning and review sessions during the year that include a focused discussion and analysis of the risks facing Semnur. These risks are then reviewed with the Scilex Board at regular board meetings as part of management presentations covering both Scilex and Semnur that focus on particular business functions, operations or strategies, and presents the steps taken by management to mitigate or eliminate such risks.

Effective upon the closing of the Business Combination, the New Semnur Board will be responsible for overseeing the company’s overall risk management process. The responsibility for managing risk rests with executive management while the committees of the New Semnur Board and the New Semnur Board as a whole participate in the oversight process. The New Semnur Board’s risk oversight process builds upon management’s risk assessment and mitigation processes, which include reviews of long-term strategic and operational planning, executive development and evaluation, regulatory and legal compliance and financial reporting and internal controls with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic and reputational risk.

Board Leadership Structure

The Proposed Bylaws will provide the New Semnur Board with the discretion to combine or separate the positions of Chief Executive Officer and Executive Chairperson of the New Semnur Board. The Semnur Board is, and the New Semnur Board is expected to be, chaired by Dr. Ji. The New Semnur Board believes that separation of the positions of Chief Executive Officer and Executive Chairperson of the New Semnur Board creates an environment that encourages objective oversight of management’s performance and enhances the effectiveness of the New Semnur Board as a whole. New Semnur believes that this separation of responsibilities will provide a balanced approach to managing the New Semnur Board and overseeing the company. However, the New Semnur Board will continue to periodically review its leadership structure and may make such changes in the future as it deems appropriate.

Board Diversity

In evaluating a director candidate’s qualifications, the New Semnur Board will assess whether a candidate possesses the integrity, judgment, knowledge, experience, skills and expertise that are likely to enhance New Semnur’s ability, as well as the ability of the committees of the New Semnur Board, to manage and direct New Semnur’s affairs and business. The New Semnur