Company: SION
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001193125-25-018825
Chunk: 249

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-02-03
Form: S-1/A
Chunk 249
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 officer salaries in December of each year and any adjustment is typically implemented, and effective, on January 1 of the following year. For the fiscal year ended December 31, 2024, the annual base salaries for Mr. Cloonan, Ms. Ridloff and Dr. McKee were $506,189, $449,946 and $449,946, respectively. In the event that the Company successfully consummates this offering on or prior to February 15, 2025, then the annual base salaries for Mr. Cloonan, Ms. Ridloff and Dr. McKee will increase to $665,000, $515,000 and $525,000, respectively, effective as of the consummation of such offering. 2024 Annual Bonuses The Company maintains an annual cash incentive program designed to reward employees based on our achievement of certain corporate objectives. Our NEOs are eligible to receive annual cash incentive awards pursuant to this program, with a target annual bonus opportunity determined as a percentage of their annual base salary. Bonus payments are based upon the assessment of our performance measured against prospectively determined objectives, as determined by our board of directors or our compensation committee, as applicable. For the fiscal year ended December 31, 2024, each NEO was eligible to earn an annual cash bonus based on the achievement of certain corporate performance metrics, and each performance metric was weighted based on a range of 5% to 50%, with the weighted percentages totaling 100%. The corporate performance goals for 2024 annual bonuses for our NEOs related to the achievement of certain preclinical and clinical milestones, the building of our organizational capabilities, and the progression of certain strategic initiatives. The fiscal year 2024 annual bonus targets for Mr. Cloonan, Ms. Ridloff and Dr. McKee were 50%, 40% and 40%, respectively, of their annual base salaries. Our board of directors determined that, for fiscal year 2024, our corporate performance objectives were achieved at 110% of target, and based on such corporate performance achievement, Mr. Cloonan, Ms. Ridloff and Dr. McKee earned an annual bonus for fiscal year 2024 equal to $278,404, $197,976 and $197,976, respectively. Equity-Based Compensation Each of our NEOs holds outstanding equity awards under our 2020 Stock Option and Grant Plan (the “2020 Plan”). We believe that equity grants provide our executives with a strong link to our long- term