Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 596

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 596
---
 no longer have the right thereunder to nominate individuals to the New Semnur Board.

Denali’s officers are appointed by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Denali’s board of directors is authorized to appoint persons to the offices set forth in the Current Denali Charter as it deems appropriate. The Current Denali Charter provides that Denali’s officers may consist of one or more chair of the board, chief executive officer, president, chief financial officer, vice presidents, secretary, treasurer and such other offices as may be determined by the board of directors.

Director Independence

An “independent director” is defined generally as a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). Denali’s board of directors has determined that each of Huifeng Chang, Jim Mao and Kevin D. Vassily is an independent director under Rule 10A-3 under the Exchange Act.

Executive Officer and Director Compensation

None of Denali’s officers or directors have received any compensation for services rendered to Denali. The Sponsor, officers, directors and their respective affiliates will be reimbursed for any out-of-pocket expenses**

<div align='center'>361</div>

incurred in connection with activities on Denali’s behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Committees of the Board of Directors Because Denali is a “controlled company,” Denali is not required to have a compensation committee composed of independent directors, nor does Denali have a nominating and corporate governance committee. Audit Committee Huifeng Chang, Jim Mao and Kevin D. Vassily serve as members of the Denali Audit Committee. Denali’s board of directors has determined that each of Huifeng Chang, Jim Mao and Kevin D. Vassily are independent under the applicable SEC rules. Kevin Vassily serves as the Chair of the Denali Audit Committee. Under the applicable SEC rules, Denali is required to have at least three members of the audit committee, all of whom must be independent within one year of the listing of the Denali Class A Ordinary Shares. Each member of the Denali Audit Committee is financially literate and Denali’s board of directors has determined that Kevin Vassily qualifies as an “audit committee financial expert” as defined in applicable SEC rules. The Denali