Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 259

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 259
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 plan administrator determines the terms and conditions of restricted stock units, including the number of units granted, the vesting criteria (which may include accomplishing specified performance criteria or
continued service to us) and the form and timing of payment.

Our 2020 Plan generally does not allow for the transfer or assignment of awards, other
than, at the discretion of the plan administrator with respect to non-qualified stock options, by gift to an immediate family member, to trusts for the benefit of family members, or to partnerships in which
such family members are the only partners, and only the recipient of an award may exercise such an award during his or her lifetime. Our 2020 Plan also provides for drag along rights pursuant to which participants may be obligated to, on the request
of the majority of our shareholders, sell, transfer, and deliver, or cause to be sold, transferred, and delivered, to a buyer, his or her shares in the event the majority of our shareholders determine to enter into a “sale event,” as
defined in the 2020 Plan and which does not include this offering.

In the event of certain changes in our capitalization, the exercise prices of
and the number of shares subject to outstanding options, and the purchase price of and the numbers of shares subject to outstanding awards will be proportionately adjusted.

The 2020 Plan provides that upon the effectiveness of a sale event, an acquirer or successor entity may assume, continue or substitute for the
outstanding awards under the 2020 Plan. To the extent that awards granted under the 2020 Plan are not assumed or continued or substituted by the successor entity, all options and all other awards granted under the 2020 Plan shall terminate. In the
event of such termination, individuals holding options will be permitted to exercise such options (to the extent exercisable) prior to the sale event. In addition, in connection with the termination of the 2020 Plan upon a sale event, we may make or
provide for a cash payment equal to (A) in the case of vested and exercisable options (including by reason of acceleration in connection with the sale event), the difference between (1) the per share cash consideration payable to
stockholders (as determined by the plan administrator) in the sale event times the number of shares subject to the options being cancelled and (2) the aggregate exercise price of the options and (B) in the case of restricted stock and
restricted stock unit awards, the per share cash consideration payable to stock