Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 619

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 619
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. Composition of the New Semnur Board New Semnur’s business and affairs will be managed under the direction of the New Semnur Board. New Semnur anticipates that the New Semnur Board will consist of five members upon closing of the Business Combination. Dr. Ji will serve as Executive Chairperson of the New Semnur Board. The primary responsibilities of the New Semnur Board will be to provide oversight, strategic guidance, counseling and direction to New Semnur’s management. The New Semnur Board will meet on a regular basis and on an ad hocbasis as required. In accordance with the terms of the Proposed Charter and the Proposed Bylaws, each of which will become effective immediately prior to and upon the completion of the Business Combination, the New Semnur Board will be divided into three classes with staggered three-year terms, as follows:

| • |     | The Class I director will be Jay Chun, M.D., Ph.D. and such director’s term will expire at the annual meeting of stockholders to be held in 2025; |

| • |     | The Class II directors will be Dorman Followwill and Yue Alexander Wu, Ph.D. and their term will expire at the annual meeting of stockholders to be held in 2026; and |

| • |     | The Class III directors will be Henry Ji, Ph.D. and Jaisim Shah and their term will expire at the annual meeting of stockholders to be held in 2027. |

**At each annual meeting of stockholders to be held after the initial classification, the successors to directors whose terms will then expire will be elected to serve from the time of election and qualification until the third annual 379

meeting following their election. The authorized number of directors that shall constitute the New Semnur Board will be determined exclusively by the New Semnur Board;provided that, at any time the Scilex Group beneficially owns, in the aggregate, at least 50% in voting power of the then-outstanding shares of New Semnur’s capital stock entitled to vote generally in the election of directors, the stockholders may also fix the number of directors by resolutions adopted by the stockholders. Any increase or decrease in the number of directors will be apportioned among the three classes so that, as nearly equal as practicable, each class will consist of one-third of the directors. No decrease in the number of directors constituting the New Semnur Board will shorten the term