Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 575

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 575
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 officers or directors and their respective affiliates. Any payments made to members of the Denali Audit Committee will be reviewed and approved by Denali’s board of directors, with the interested director or directors abstaining from such review and approval. |

Compensation Committee Interlocks and Insider Participation None of Denali’s executive officers currently serves, and in the past year each executive officer has not served, as a member of the compensation committee of any entity that has one or more executive officers serving on Denali’s board of directors. 353

Code of Ethics Prior to consummation of the IPO, Denali adopted a Code of Ethics applicable to Denali’s directors, officers and employees. Denali intends to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. Conflicts of Interest Under Cayman Islands law, directors and officers owe the following fiduciary duties:

| • |     | duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; |

| • |     | duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; |

| • |     | duty to not improperly fetter the exercise of future discretion; |

| • |     | duty to exercise powers fairly as between different sections of shareholders; |

| • |     | duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and |

| • |     | duty to exercise independent judgment. |

In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience of that director. As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the amended and restated memorandum and articles of association or alternatively by shareholder approval at general meetings. Certain