Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 623

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 623
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 the oversight process. The New Semnur Board’s risk oversight process builds upon management’s risk assessment and mitigation processes, which include reviews of long-term strategic and operational planning, executive development and evaluation, regulatory and legal compliance and financial reporting and internal controls with respect to areas of potential material risk, including operations, finance, legal, regulatory, cybersecurity, strategic and reputational risk.

Board Leadership Structure

The Proposed Bylaws will provide the New Semnur Board with the discretion to combine or separate the positions of Chief Executive Officer and Executive Chairperson of the New Semnur Board. The Semnur Board is, and the New Semnur Board is expected to be, chaired by Dr. Ji. The New Semnur Board believes that separation of the positions of Chief Executive Officer and Executive Chairperson of the New Semnur Board creates an environment that encourages objective oversight of management’s performance and enhances the effectiveness of the New Semnur Board as a whole. New Semnur believes that this separation of responsibilities will provide a balanced approach to managing the New Semnur Board and overseeing the company. However, the New Semnur Board will continue to periodically review its leadership structure and may make such changes in the future as it deems appropriate.

Board Diversity

In evaluating a director candidate’s qualifications, the New Semnur Board will assess whether a candidate possesses the integrity, judgment, knowledge, experience, skills and expertise that are likely to enhance New Semnur’s ability, as well as the ability of the committees of the New Semnur Board, to manage and direct New Semnur’s affairs and business. The New Semnur Board may consider many factors, such as personal and professional integrity, ethics and values; experience in corporate management, such as serving as an officer or**

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former officer of a publicly-held company; and experience as a board member or executive officer of another publicly-held company. In addition, the New Semnur Board may consider diversity in identifying potential director nominees, including diversity of expertise and experience in substantive matters pertaining to New Semnur’s business relative to other board members and diversity of background and perspective, including, but not limited to, with respect to age, gender, race, place of residence and specialized experience. Committees of the New Semnur Board Effective upon the closing of the Business Combination, the New Semnur Board will reconstitute the audit committee, compensation committee and nominating and corporate governance committee. The New Semn