Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 108

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 108
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000 valued on a Black-Scholes basis and as determined by the NGCC; and
the aggregate number of securities issuable to all of our Outside Directors entitled to receive a benefit under the Long-Term Incentive
Plan, within any one-year period, under all of our security-based compensation arrangements, cannot exceed 1% of its issued and outstanding
securities.

Except as provided below or within an award agreement,
each award granted under the Long-Term Incentive Plan (other than a performance unit that cannot be paid in shares) will be subject to
a minimum vesting period or minimum restriction period as follows: (i) each stock option or SAR will be subject to a minimum vesting
period of 12 months from the date of grant, (ii) each award of stock, stock units, performance shares, performance units payable in shares
and other stock- based awards (“Full Value Awards”) granted to non-employee directors will be subject to a minimum
restriction period of 12 months from the date of grant, and (iii) each Full Value Award granted to a participant other than a non-employee
director will be subject to a minimum restriction period of 12 months from the date of grant if vesting of or lapse of restrictions on
such award is based on the satisfaction of performance goals and a minimum restriction period of 36 months from the date of grant, applied
in either pro rata installments or a single installment, if vesting of or lapse of restrictions on such award is based solely on the
participant’s satisfaction of specified service requirements with us (provided that no such Full Value Awards will vest or have
its restrictions lapse during the first 12 months following the date of grant). If the grant of a performance award is conditioned on
satisfaction of performance goals, the performance period must not be less than 12 months’ duration, but no additional minimum
restriction period need apply to such award. The minimum vesting period or minimum restriction period will not apply in the case of death
or disability of a participant or in the event of a change in control. Awards that result in the issuance of an aggregate of up to 5%
of the share pool under the Long-Term Incentive Plan may be granted without regard to such minimum vesting period or minimum restriction
period.

  74  

A SAR is the right to receive a payment equal to
the excess of the Fair Market Value (as defined below) of a specified number of shares on the date