Company: SION
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101830
Chunk: 41

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 41
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 options vest in 48 equal monthly installments over a period of four years following March 4, 2024, subject to each applicable NEO’s continued service with us through the applicable vesting dates; provided that the vesting of such shares will fully accelerate upon a “sale event” (as defined in the 2020 Plan) and as provided in the Severance and CIC Agreements and/or the New Severance and CIC Plan (each as defined below). Each NEO’s outstanding awards as of December 31, 2024 are set forth in more detail in the “Outstanding Equity Awards at Fiscal 2024 Year-End” table below.

Effective as of February 6, 2025, the date on which the registration statement of our initial public offering was declared effective by the SEC, we ceased granting equity awards under our 2020 Plan and instead grant equity awards under our 2025 Plan. In connection with our initial public offering in February 2025, our board of directors approved grants to certain of our employees (including our NEOs) of options to purchase an aggregate of 1,758,504 shares of common stock (the “Employee IPO Grants”) under the 2025 Plan, with Mr. Cloonan, Ms. Ridloff and Dr. McKee being granted options to purchase 450,252, 157,820 and 148,536 shares of our common stock, respectively. The Employee IPO Grants each have an exercise price of $18.00 per share (which is equal to the initial public offering price per share), expire ten years from the date of grant and vest in 48 equal monthly installments following their applicable vesting start date, in each case subject to the applicable employee’s continued service relationship through each such vesting date.

401(k) Plan

We currently maintain a tax-qualified 401(k) retirement savings plan for our employees, including our NEOs, who satisfy certain eligibility requirements. Our NEOs are eligible to participate in the 401(k) plan on the same terms as other full-time employees. The 401(k) plan provides eligible employees with an opportunity to save for retirement on a tax advantaged basis. Eligible employees are able to defer eligible compensation subject to applicable annual limits of the Internal Revenue Code of 1986, as amended (the “Code”). Our 401(k) plan is intended to be qualified under Section 401(a) of the Code with our 401(k) plan’s related trust intended to be tax exempt