Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 271

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 271
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 Board may utilize the services of third parties from time to time in connection with the recruiting, hiring and determination of compensation**

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#### awarded to executive employees. The Board retained the services of a compensation consultant, Compensia, to formulate a report and make recommendations regarding our compensation programs and executive compensation levels. The compensation consultant provided our Compensation Committee with benchmark comparative data for our executive officers with respect to base salaries, target and actual total cash compensation levels, and long-term incentive values. The Board used the data provided by the compensation consultant to make an initial determination of the competitiveness of total direct compensation for each executive officer to align the cash and equity compensation of our executive officers with the 50th to 75th percentile as compared to our peer group.Semnur has entered into new employment agreements with its executive officers and approved the following base salaries, target bonuses on terms and conditions determined by the Board, the payment of which shall not commence until such time as the Oramed Note has been repaid in full or Oramed has otherwise consented to such compensation arrangements:SalaryTarget BonusJaisim Shah$1,250,000150%Henry Ji, Ph.D.$1,100,000150%Stephen Ma$345,00060%Director CompensationSemnur’s directors during the year ended December 31, 2024 were Dr. Ji and Mr. Shah, Semnur’s Chief Executive Officer and President. Neither Dr. Ji nor Mr. Shah received any compensation for their service as directors of Semnur during such time. The Board expects to approve the following compensation for Semnur’s non-employee directors:Annual Cash CompensationAmountBoard Members$82,500Chairs of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee$37,500Members of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee$15,000Equity CompensationNumberInitial Stock Options250,000Annual Stock Options100,000All annual cash compensation amounts for non-employee directors are expected to be payable in equal quarterly installments in arrears, following the end of each quarter in which the service occurred, pro-rated for any partial months of service. The equity compensation to be paid to non-employee directors will vest monthly over a period of 48 months from the date of grant with respect to the initial stock option grants and over a period of 12 months from the date of grant with respect to the annual stock option grants, in each case,