Company: SION
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001193125-25-018825
Chunk: 267

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-02-03
Form: S-1/A
Chunk 267
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 under the 2025 Plan to participants, subject to the achievement of certain performance goals, including continued employment (or other Service Relationship (as defined in the 2025 Plan)).

The 2025 Plan provides that in the case of and subject to the consummation of a “sale event,” as defined in the 2025 Plan, an acquirer or
successor entity may assume, continue or substitute outstanding awards under the 2025 Plan. To the extent that awards granted under the 2025 Plan are not assumed or continued or substituted by the successor entity, upon the effective time of the
sale event, such awards shall terminate. In such case, except as may be otherwise provided in the relevant award agreement, all awards with time-based vesting conditions or restrictions shall become fully vested and nonforfeitable as of the
effective time of the sale event and all awards with conditions and restrictions relating to the attainment of performance goals may become vested and nonforfeitable in connection with a sale event in the administrator’s discretion or to the
extent specified in the relevant award agreement. In the event of such termination, (i) individuals holding options and stock appreciation rights will be permitted to exercise such options and stock appreciation rights (to the extent then
exercisable (after taking into account any acceleration thereunder)) within a specified period of time prior to the sale event or (ii) we may make or provide for a payment, in cash or in kind, to participants holding vested and exercisable
options and stock appreciation rights equal to the difference between the per share consideration payable to stockholders in the sale event and the

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exercise price of the options or stock appreciation rights and we may make or provide for a payment, in cash or in kind, to participants holding other vested awards in an amount equal to the per
share consideration payable to stockholders in the sale event multiplied by the number of vested shares under such award.

Our board of directors
may amend or discontinue the 2025 Plan and our administrator may amend or cancel outstanding awards for purposes of satisfying changes in law or any other lawful purpose, but no such action may materially and adversely affect rights under an award
without the holder’s consent. Certain amendments to the 2025 Plan require the approval of our stockholders. The administrator of the 2025 Plan is specifically authorized to exercise its discretion to reduce the exercise price of outstanding
stock options and stock appreciation rights or effect the repricing of such awards through cancellation and re-grants or cancellation