Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 283

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 283
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ments thereafter, subject to the named executive officer continuing to have a service relationship with us through each applicable vesting date. Our board of directors also
approved an additional option grant under our 2025 Plan to Mr. Prensky in his capacity as a non-employee director, effective upon the pricing of this offering, to purchase a number of shares that will be equal to approximately 0.10% of our total
outstanding shares of capital stock as of such date after giving effect to this offering. Shares subject to this option will vest in three annual installments such that such option is fully vested on the third anniversary of the grant date, subject
to Mr. Prensky continuing to have a service relationship with us through each applicable vesting date.

Employment Arrangements

We are party to employment agreements with each of our named executive officers. The employment agreements set forth the named executive
officer’s base salary, eligibility for employee benefits, and severance benefits upon a qualifying termination of employment or change in control of our Company and, other than Ms. Turner, generally provide for an initial term commencing
on the effective date of the applicable agreement and ending on the one-year anniversary of the effective date. After the initial one-year term, the employment agreement
will automatically renew for successive one-year terms. Either we or the executive may elect not to renew the employment agreement after the initial one-year term by
providing the other party written notice of non-renewal not less than ninety (90) days prior to the expiration of the then-existing employment period. Each of our named executive officers has executed our
standard confidential information, inventions assignment, and arbitration agreement. The key terms of the employment agreements with our named executive officers, including potential payments upon termination or change in control, are described
below.

Heather Turner

In
November 2024, we entered into an executive employment agreement with Heather Turner, our Chief Executive Officer and a member of our board of directors, who commenced employment on November 18, 2024, or the Turner Employment Agreement. The
Turner Employment Agreement provides for an annual base salary of $550,000 per year. Pursuant to the Turner Employment Agreement, Ms. Turner is eligible to receive an annual performance cash bonus with a target bonus opportunity equal to 50% of
her base salary, as adjusted from time to time, based on the achievement of corporate and individual objectives and milestones established by our board of directors. Additionally, pursuant to the Turner Employment Agreement