Company: SION
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001193125-25-018825
Chunk: 269

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-02-03
Form: S-1/A
Chunk 269
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 ESPP; provided, however, that employees who are customarily
employed for 20 hours or less per week may be eligible to participate in the ESPP if required by applicable law or regulations. However, any employee who owns 5% or more of the total combined voting power or value of all classes of our stock will
not be eligible to purchase shares of common stock under the ESPP.

We may make one or more offerings each year to our employees to purchase shares
under the ESPP. Offerings will begin and end on the dates determined by the administrator, referred to as offering periods; provided that, no offerings shall exceed 27 months in duration. Each eligible employee may elect to participate in any
offering by submitting an enrollment form to the Company in a manner determined by the administrator by such deadline as established by the administrator. Unless the administrator chooses otherwise prior to an offering date, and to the extent an
offering has more than

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one purchase period and to the extent permitted by applicable law, if the fair market value of our common stock on any exercise date in an offering is lower than the fair market value of our
common stock on the first day of the applicable offering, then all participants in such offering automatically will be withdrawn from such offering immediately after the exercise of their option on such exercise date and automatically re-enrolled in the immediately following offering as of the first day thereof and the preceding offering will terminate.

Each employee who is a participant in the ESPP may purchase shares of our common stock by authorizing payroll deductions or contributions of up to 15%
of his or her eligible compensation during an offering period or such other maximum as may be specified by the administrator in advance of an offering. Unless the participating employee has previously withdrawn from the offering, his or her
accumulated payroll deductions or contributions will be used to purchase shares of our common stock on the last business day of the purchase period at a price equal to 85% of the closing price of our common stock on the first day of the offering or
the last day of the purchase period (or, if no closing price is reported on that date, the closing price on the immediately preceding date on which a closing price was reported), whichever is lower, provided that no more than a number of shares of
common stock determined by dividing $25,000 by the closing price of our common stock on the first day of such offering (or such other lesser maximum number of shares as may be established by the administrator) may be purchased by any one