Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 599

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 599
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nur’s stockholders. No options may be granted after the tenth anniversary of the effective date. No awards may be granted under the 2024 Stock Option Plan while it is suspended or after it is terminated.

Emerging Growth Company Status

New Semnur will be an “emerging growth company,” as defined in the JOBS Act. As an emerging growth company, it will be exempted from certain requirements related to executive compensation, including the requirements to hold a nonbinding advisory vote on executive compensation and to provide information relating to the ratio of total compensation of its Chief Executive Officer to the median of the annual total compensation of all of its employees, each as required by the Investor Protection and Securities Reform Act of 2010, which is part of the Dodd-Frank Act.

New Semnur Executive Officer Compensation Following the Business Combination

Following the consummation of the Business Combination, New Semnur intends to develop an executive compensation program that is designed to align compensation with New Semnur’s business objectives and the creation of stockholder value, while enabling New Semnur to attract, retain, incentivize and reward individuals who contribute to the long-term success of New Semnur. Decisions on the executive compensation program will be made by the New Semnur Board and specifically through the New Semnur Board’s Compensation Committee. Semnur expects that the compensation policies followed by New Semnur will be designed to provide for compensation that is sufficient to attract, motivate and retain executives of New Semnur and to establish an appropriate relationship between executive compensation and the creation of stockholder value.

In addition to the guidance provided by its Compensation Committee, the New Semnur Board may utilize the services of third parties from time to time in connection with the recruiting, hiring and determination of compensation awarded to executive employees. In connection with the Business Combination, the Semnur Board**

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#### retained the services of 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