Company: SION
Filing Date: 2025-01-17
Form Type: S-1
Source: 0001193125-25-008474
Chunk: 262

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-01-17
Form: S-1
Chunk 262
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, non-employee directors and consultants as
selected from time to time by our administrator in its discretion.

The 2025 Plan permits the granting of both options to purchase common stock
intended to qualify as incentive stock options under Section 422 of the Code and options that do not so qualify. The option

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exercise price of each option will be determined by our administrator but may not be less than 100% of the closing price of our common stock on the date of grant (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) (110% in the case of certain incentive stock options) unless the option (i) is granted pursuant to a transaction described in, and
in a manner consistent with Section 424(a) of the Code, (ii) is granted to an individual who is not subject to U.S. income tax or (iii) if the grant is otherwise exempt or compliant with Section 409A of the Code. The term of each
option will be fixed by our administrator and may not exceed 10 years from the date of grant (or five years in the case of certain incentive stock options). Our administrator will determine at what time or times each option may be exercised.

Our administrator may award stock appreciation rights under the 2025 Plan subject to such conditions and restrictions as it may determine. Stock
appreciation rights entitle the recipient to shares of common stock, or cash, equal to the value of the appreciation in our stock price over the exercise price. The exercise price of each stock appreciation right generally may not be less than 100%
of the closing price of our common stock on the date of grant (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) unless the share appreciation right
(i) is granted pursuant to a transaction described in, and in a manner consistent with Section 424(a) of the Code, (ii) is granted to an individual who is not subject to U.S. income tax or (iii) if the grant is otherwise exempt
or compliant with Section 409A of the Code. The term of each stock appreciation right will be fixed by our administrator and may not exceed ten years from the date of grant. Our administrator will determine at what time or times each stock
appreciation right may be exercised.

Our administrator may award restricted shares of common stock and restricted stock units to participants