Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 273

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 273
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 registration statement, with terms in accordance with the non-employee director compensation policy described above. Furthermore, on the date of each annual meeting of stockholders
following the completion of this offering, each non-employee director who continues as a non-employee director following such meeting (other than a director receiving an
Initial Grant on the date of such meeting) will be granted an annual stock option award to purchase shares of our common stock (the “Annual Grant”). The Annual Grant will vest in full upon the earlier of (i) the first
anniversary of the date of grant or (ii) the date of the next annual meeting of stockholders, subject to continued service through the applicable vesting date. Following the effective date of the
non-employee director compensation policy, if a non-employee director joins our board of directors on a date other than the date of the annual meeting of stockholders,
then in lieu of the Annual Grant, such non-employee director will be granted a pro-rated portion of the Annual Grant corresponding to such partial year of service
between the director’s initial election or appointment and such annual meeting of stockholders. The Initial Grants and Annual Grants (including any pro rata portions thereof) will each expire ten years from the applicable date of grant and have
an exercise price per share equal to the fair market value of our common stock on the date of grant.

The Initial Grant and the Annual Grant
(including any pro rata portions thereof) are subject to full accelerated vesting upon the sale of the Company.

The aggregate amount of
compensation, including both equity compensation and cash compensation, paid to any non-employee director for service as a non-employee director in a calendar year
period will not exceed $1,000,000 in the first calendar year such individual becomes a non-employee director and $750,000 in any other calendar year.

We will reimburse all reasonable out-of-pocket expenses incurred by
directors for their attendance at meetings of our board of directors or any committee thereof.

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CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS In addition to the compensation arrangements, including employment, termination of employment and change in control arrangements, and indemnification arrangements discussed, when required, in the sections titled “ Management” and “ Executive Compensation” and the registration rights described in the section titled “ Description of Capital Stock—Registration Rights,” the following is a description of all transactions since January 1, 2021 and each currently proposed transaction in which:

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