Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 275

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 275
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We
have adopted a Code of Ethics applicable to our directors, officers and employees. A copy of the Code of Ethics will be provided without
charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current
Report on Form 8-K.

Trading
Policies

The
Company has adopted an insider trading policy that governs the purchase, sale, and/or other transactions of our securities by our directors,
officers and employees. A copy of our insider trading policy is filed as Exhibit 19.1 to this Annual Report on Form 10-K for the fiscal
year ended December 31, 2024. In addition, with regard to the Company’s trading in its own securities, it is the Company’s
policy to comply with the federal securities laws and the applicable exchange listing requirements.

Availability
of Documents

We
have filed a copy of our Code of Ethics and our audit committee charter as exhibits to the registration statement relating to our IPO.
You can review these documents by accessing our public filings at the SEC’s website at www.sec.gov. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K.

Section
16(a) Beneficial Ownership Reporting Compliance 

Section
16(a) of the Exchange Act, requires our executive officers, directors and persons who beneficially own more than 10% of a registered
class of our equity securities to file with the SEC initial reports of ownership and reports of changes in ownership of the ordinary
shares of the Company and other equity securities. These executive officers, directors, and greater than 10% beneficial owners are required
by SEC regulation to furnish us with copies of all Section 16(a) forms filed by such reporting persons.

Based
on a review of Section 16 filings with respect to the Company made during or with respect to the most recent fiscal year, we are not
aware of any late Section 16(a) filings other than one late Form 4 report filed by the sponsor and one late Form 4 report by Jiandong
Xu.

27

Item
11. Executive Compensation.

Executive
Officer and Director Compensation

None
of our executive officers or directors have received any cash compensation for services rendered to us. Our sponsor, executive officers
and directors, or their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities
on our behalf such as identifying potential target businesses and