Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 614

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 614
---
 a compensation consultant, Compensia, to formulate a report and make recommendations regarding our compensation programs and executive compensation levels. The compensation consultant provided our compensation committee with benchmark comparative data for our executive officers with respect to base salaries, target and actual total cash compensation levels, andlong-termincentive values. The Semnur Board used the data provided by the compensation consultant to make an initial determination of the competitiveness of total direct compensation for each executive officer to align the cash and equity compensation of our executive officers with the 50thto 75thpercentile as compared to our peer group.New Semnur is currently negotiating the terms of new employment agreements with the individuals that are expected to become the executive officers of New Semnur (the effectiveness of which will be subject to the successful closing of the Business Combination) and it is currently anticipated that, upon the closing of the Business Combination, and based upon the information provided by Compensia and external public resources available to New Semnur, the New Semnur Board will approve the following base salaries, target bonuses on terms and conditions to be determined by the New Semnur Board, the payment of which shall not commence until such time as the Oramed Note has been repaid in full or Oramed has otherwise consented to such compensation arrangements:SalaryTarget BonusJaisim Shah$1,100,000150%Henry Ji, Ph.D.$1,100,000150%Stephen Ma$345,00060%373
SEMNUR’S DIRECTOR COMPENSATION Semnur’s directors during the year ended December 31, 2024 are Dr. Ji and Mr. Shah, Semnur’s Chief Executive Officer and President. Neither Dr. Ji nor Mr. Shah received any compensation for their service as directors of Semnur during such time. New Semnur Director Compensation Following the Business Combination It is currently anticipated that, upon the closing of the Business Combination, the New Semnur Board will approve the following compensation for New Semnur’s non-employeedirectors:

| Annual Cash Compensation                                                                                 |     | Amount |        |
|:---------------------------------------------------------------------------------------------------------|:----|:-------|-------:|
| Board Members                                                                                            |     | $      | 82,500 |
| Chairs of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee  |     | $      | 37,500 |
| Members of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee |     | $      |