Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 101

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 101
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 generally subject to mid-term and long-term vesting schedules
to help ensure that executives generally have significant value tied to long-term share price performance.

The NGCC believes that the variable compensation
elements (annual bonuses and equity-based awards) represent a percentage of overall compensation that is sufficient to motivate our executive
officers to produce superior short-term, mid-term and long-term corporate results, while the fixed compensation element (base salary)
is also sufficient to discourage executive officers from taking unnecessary or excessive risks. The NGCC and the Board also generally
have the discretion to adjust annual bonuses and equity-based awards based on individual performance and any other factors they may determine
to be appropriate in the circumstances. Such factors may include, where necessary or appropriate, the level of risk-taking a particular
executive officer may have engaged in during the preceding year.

Based on the foregoing, the NGCC has not identified
any specific risks associated with our executive compensation program that are reasonably likely to have a material adverse effect on
us. The NGCC believes that our executive compensation program does not encourage or reward any unnecessary or excessive risk-taking behavior.

Our directors, executive officers and employees are
prohibited from purchasing, selling or otherwise trading in derivative securities relating to our Common Shares. Derivative securities
are securities whose value varies in relation to the price of our securities. Examples of derivative securities include warrants to purchase
our Common Shares, and put or call options written on our Common Shares, as well as individually arranged derivative transactions, such
as financial instruments, including, for greater certainty, prepaid variable forward contracts, equity swaps, collars, or units of exchange
funds, which are designed to hedge or offset a decrease in market value of our equity securities granted as executive compensation or
directors’ remuneration. Options to acquire our Common Shares and other equity-based awards issued pursuant to the Stock Option
Plan or Long-Term Incentive Plan are not derivative securities for this purpose.

  70  

2024 Compensation

Base Salary. The primary element of our compensation
program is base salary. Our view is that a competitive base salary is a necessary element for retaining qualified executive officers.
In determining individual base salaries, the NGCC takes into consideration individual circumstances that may include the scope of an
executive’s position, the executive’s relevant competencies or experience and retention risk. The NGCC also takes into consideration
the fulfillment of our corporate objectives, as well as the individual performance of the executive.

Short-Term, Non-Equity In