Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 271

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 271
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eterminations, our board of directors considered the current and prior relationships that each director has with our company and all other facts and circumstances that our board of directors deemed relevant in determining their independence,
including the beneficial ownership of our capital stock by each non-employee director and the transactions described in the section titled “Certain Relationships and Related Party
Transactions.” Our board of directors has determined that Ms. Turner, by virtue of her role as our Chief Executive Officer, and Mr. Prensky, by virtue of his role as our former Chief Executive Officer, are not independent directors
under the current rules and regulations of the SEC and the listing standards of Nasdaq.

There are no family relationships among any of
our directors or executive officers.

Role of the Board in Risk Oversight

One of the key functions of our board of directors is informed oversight of our risk management process. Our board of directors does not have a
standing risk management committee, but rather administers this oversight function directly through the board of directors as a whole. Additionally, in connection with this offering, our board of directors will establish various standing committees
of the board of directors that will address risks inherent in their respective areas of oversight, as described below. In particular, our audit committee will monitor our major financial, accounting, legal, compliance, investment, tax,
cybersecurity, and data privacy risks, and the steps our management has taken to identify and control these exposures, including by reviewing and setting guidelines, internal controls, and policies that govern the process by which risk assessment
and management is undertaken. In addition, our compensation committee will oversee the management of risks relating to our employment policies and executive compensation plans and arrangements, and our nominating and corporate governance committee
will oversee the management of our corporate governance practices.

While our board of directors oversees our risk management, management
is responsible for day-to-day risk management processes. Our board of directors expects management to consider risk and risk management in each business decision, to
proactively develop and monitor risk management strategies and processes for day-to-day activities, and to effectively implement risk management strategies adopted by
our board of directors, as a whole and at the committee level. We believe this division of responsibilities is the most effective approach for addressing the risks we face.

Board Committees

In connection with this
offering, our board of directors will establish an audit committee, a compensation committee, and a nominating and corporate governance committee. Our board of directors may from time to time establish other committees.

Audit Committee

Upon the
completion of