Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 672

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 672
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 Semnur Charter or such bylaws, any director or the                  
 entire board of directors may be removed, with or without cause, by the holders of a majority of the shares then entitled to vote at an election of directors. 
 No reduction of the authorized number of directors shall have the effect of removing any director prior to the expiration of such director’s term of           
 office.                                                                                                                                                        |     | Under the Proposed Charter, directors may be removed, with or without cause by the affirmative vote of the holders of a majority of the voting power of the then-outstanding shares of stock of New Semnur entitled to vote generally in                 
 the election of such directors; provided, however, that, from and after the Scilex Trigger Event any such director or all such directors may be removed only for cause and only by the affirmative vote of the holders of at least 66 2/3% of the voting 
 power of all then-outstanding shares of stock of New Semnur entitled to vote thereon, voting together as a single class, in each case, subject to the rights of any holders of any series of preferred stock.                                            |
| Supermajority Voting Provisions                                                                                                                                                                                                      |     |                                                                                                                                                                |     |                                                                                                                                                                                                                                                          |
| See “Amendment of Memorandum and Articles of Association or Charter” and “Amendment of Bylaws” below.                                                                                                                                |     | The Current Semnur Charter does not have any supermajority voting provisions.                                                                                  |     | See “Removal of Directors” above and “Amendment of Memorandum and Articles of Association or                                                                                                                                                             |

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| Current Denali Governance                                                                                                                                                                                                    |     | Current Semnur Governance                                                                                                                                                                                                                                 |     | Proposed Governance                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                           |     | Charter” and “Amendment of Bylaws” below.                                                                                                                                                                                                                 |
| Vacancies on the Board of Directors                                                                                                                                                                                          |     |                                                                                                                                                                                                                                                           |     |                                                                                                                                                                                                                                                           |
| Under the Current Denali Charter, the Denali’s directors may appoint any person to be a director to fill a vacancy provided that the appointment does not cause the numbers of directors to exceed any number fixed by or in 
 accordance with the Current Denali Charter as the maximum number of directors.                                                                                                                                               |     | Pursuant to the Current Semnur Bylaws, vacancies and newly created directorships resulting from any increase in the authorized number of                                                                                                                  
 directors elected by all of the stockholders having the right to vote