Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 286

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 286
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375,000 per year, as adjusted from time to time. Dr. Eramo’s base salary was initially increased to $393,750 for 2025 and subsequently increased again in
connection with the amendment and restatement of the Eramo Employment Agreement, as described below. Pursuant to the Eramo Employment Agreement, Dr. Eramo is eligible to receive an annual performance cash bonus with a target bonus opportunity
equal to 40% of her base salary, as adjusted from time to time, based on the achievement of corporate and individual objectives and milestones established by our board of directors. Additionally, the Eramo Employment Agreement provided for the grant
of an option to purchase 26,893 shares of our common stock, at an exercise price of $41.84 per share. 25% of the option vested and became exercisable upon the first anniversary of the effective date of the Eramo Employment Agreement, and the
remainder vests and becomes exercisable in thirty-six (36) substantially equal monthly installments thereafter, subject to Dr. Eramo continuing to have a service relationship with us through each such date. In addition, contingent and
effective upon the effectiveness of the underwriting agreement related to the Company’s initial public offering, Dr. Eramo is eligible to receive an option to purchase a number of shares of our common stock such that her aggregate beneficial
ownership of the common stock as of the closing of the initial public offering would equal 0.75% of the fully diluted total number of shares of common stock outstanding as of the closing of this offering, rounded down to the nearest whole share. 25%
of such option shall vest and became exercisable upon the first anniversary of the pricing of this offering, and the remainder vests and becomes exercisable in thirty-six (36) substantially equal monthly
installments thereafter, subject to Dr. Eramo continuing to have a service relationship with us through each such date. Dr. Eramo is also entitled to certain severance benefits, the terms of which are described below under
“—Potential Payments Upon Termination or Change in Control.”

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The Eramo Employment Agreement was amended and restated in September 2025 to, among
other changes, provide for an annual base salary of $475,000 and the grant of an option under our 2025 Plan, contingent and effective upon the pricing of this offering, as described above, and under “IPO Option Grants.”

Potential Payments Upon Termination or Change in Control