Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 273

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 273
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 we entered into a separation agreement with Mr. Sawhney, the terms of which are described below under “—Potential Payments Upon Termination
or Change in Control.”

187

Anna Eramo, M.D.

In August 2023, we entered into an executive employment agreement with Anna Eramo, M.D., our Chief Medical Officer, or the Eramo Employment
Agreement. The Eramo Employment Agreement provides for an annual base salary of $325,000 per year, as adjusted from time to time. Dr. Eramo’s current annual base salary for 2025 is $393,750 per year. 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 750,000 shares of our common stock, at an exercise price of $1.50 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. 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.”

Potential Payments Upon Termination or Change in Control

Regardless of the manner in which a named executive officer’s service terminates, each of our named executive officers is entitled to
receive amounts earned during his or her term of service, including unpaid salary and unused vacation. In the event of certain termination scenarios, each named executive officer will be entitled to receive the additional benefits summarized below
pursuant to his or her employment agreement, subject to the timely execution and non-revocation of a separation agreement and general release of claims (among other preconditions).

Heather Turner

If we terminate
Ms. Turner’s employment without cause or she resigns for good reason (each of “cause” and “good reason” as defined in the Turner Employment Agreement) during a time period other than the three (3) months prior
to or twelve (