Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 281

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 281
---
 be delegated authority to grant a stock award to themself; (ii) determine the number of shares subject to such stock award; and (iii) determine the terms of such stock awards. Under our 2025 Plan, our board of directors has the authority to determine and amend the terms of awards and underlying agreements, including:

| • |     | recipients; |

| • |     | the exercise, purchase or strike price of stock awards, if any; |

| • |     | the number of shares subject to each stock award; |

| • |     | the vesting schedule applicable to the awards, together with any vesting acceleration; and |

| • |     | the form of consideration, if any, payable on exercise or settlement of the award. |

Under the 2025 Plan, the board of directors also generally has the authority to effect, with the consent of any adversely affected participant:

| • |     | the reduction of the exercise, purchase, or strike price of any outstanding award; |

| • |     | the cancellation of any outstanding award and the grant in substitution therefore of other awards, cash, or other 
 consideration; or                                                                                                 |

| • |     | any other action that is treated as a repricing under generally accepted accounting principles. |

Stock Options. ISOs and NSOs are granted under stock option agreements adopted by the plan administrator. The plan administrator determines the exercise price for stock options, within the terms and conditions of the 2025 Plan, provided that the exercise price of a stock option generally cannot be less than 100% of the fair market value of our common stock on the date of grant. Options granted under the 2025 Plan vest at the rate specified in the stock option agreement as determined by the plan administrator. Tax Limitations on ISOs. The aggregate fair market value, determined at the time of grant, of our common stock with respect to ISOs that are exercisable for the first time by an option holder during any calendar year under all of our stock plans may not exceed $100,000. Options or portions thereof that exceed such limit will generally be treated as NSOs. No ISO may be granted to any person who, at the time of the grant, owns or is deemed to own stock possessing more than 10% of our total combined voting power or that of any of our affiliates unless (i) the option exercise price is at least 110% of the fair market value of the stock subject to the option on the date of grant; and (