Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 245

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 245
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| (2) | Amounts reflect bonuses earned based on our achievement of specified performance metrics for the applicable fiscal year 
 pursuant to our non-equity incentive plan.                                                                              |

Narrative Disclosure to Summary Compensation Table 2024 Salaries Our NEOs each receive a base salary to compensate them for services rendered to us. The base salary payable to each NEO is intended to provide a fixed component of compensation reflecting the executive’s skill set, experience, role and responsibilities. Base salaries are reviewed annually, typically in connection with our annual performance review process, and approved by our board of directors or our compensation committee, and may be adjusted from time to time to realign salaries with market levels after taking into account individual responsibilities, performance and experience. Our board of directors, or our compensation committee, as applicable, generally reviews executive officer salaries in December of each year and any adjustment is typically implemented, and effective, on January 1 of the following year. For the fiscal year ended December 31, 2024, the annual base salaries for Mr. Cloonan, Ms. Ridloff and Dr. McKee were $506,189, $449,946 and $449,946, respectively. In the event that the Company successfully consummates this offering on or prior to February 15, 2025, then the annual base salaries for Mr. Cloonan, Ms. Ridloff and Dr. McKee will increase to $665,000, $515,000 and $525,000, respectively, effective as of the consummation of such offering. 2024 Annual Bonuses The Company maintains an annual cash incentive program designed to reward employees based on our achievement of certain corporate objectives. Our NEOs are eligible to receive annual cash incentive awards pursuant to this program, with a target annual bonus opportunity determined as a percentage of their annual base salary. Bonus payments are based upon the assessment of our performance measured against prospectively determined objectives, as determined by our board of directors or our compensation committee, as applicable. For the fiscal year ended December 31, 2024, each NEO was eligible to earn an annual cash bonus based on the achievement of certain corporate performance metrics, and each performance metric was weighted based on a range of 5% to 50%, with the weighted percentages totaling 100%. The corporate performance goals for 2024 annual bonuses for our NEOs related to the achievement of certain preclinical and clinical milestones, the building of our organizational capabilities, and the progression of certain strategic initiatives.