Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 103

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 103
---
1,847,233                          0  
  December 31, 2022                                                                    1,854,537                          0  

  (1)      Annual burn rate is expressed                                                                                                              

Under the Stock Option Plan, (i) the number of securities
issuable to insiders, at any time, or issued within any one-year period, under all of our security-based compensation arrangements, cannot
exceed 10% of our issued and outstanding securities and (ii) no single person eligible to receive grants under the Stock Option Plan
(each a “ Participant”) may hold options to purchase, from time to time, more than 5% of our issued and outstanding Common
Shares. In addition: (i) the aggregate fair value of options granted under all of our security-based compensation arrangements to any
one of our Outside Directors entitled to receive a benefit under the Stock Option Plan, within any one-year period, cannot exceed $100,000
valued on a Black-Scholes basis and as determined by the NGCC; and (ii) the aggregate number of securities issuable to all of our Outside
Directors entitled to receive a benefit under the Stock Option Plan, within any one-year period, under all of our security-based compensation
arrangements, cannot exceed 1% of its issued and outstanding securities.

Options granted under the Stock Option Plan may be
exercised at any time within a maximum period of seven or ten years following the date of their grant (the “Outside Expiry Date”),
depending on the date of grant. The Board or the NGCC, as the case may be, designates, at its discretion, the specific Participants to
whom stock options are granted under the Stock Option Plan and determines the number of Common Shares covered by each of such option
grants, the grant date, the exercise price of each option, the Outside Expiry Date and any other matter relating thereto, in each case
in accordance with the applicable rules and regulations of the regulatory authorities. The price at which the Common Shares may be purchased
may not be lower than the greater of the closing prices of the Common Shares on the NASDAQ on the last trading day preceding the date
of grant of the option. Options granted under the Stock Option Plan shall vest in equal tranches over a three-year period (one-third
each year, starting on the first anniversary of the grant date) or as otherwise determined by the Board or the NGCC, as the case may
be. Participants