Company: LBRX
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0001193125-25-197877
Chunk: 277

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 277
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 meeting of stockholders of our company after the effective date of the policy, commencing with the 2026 annual meeting of stockholders, each non-employee director that continues to serve on our board of directors will automatically be granted a stock option award for 10,000 shares. The annual option grant shall be prorated for non-employee directors who have served on our board of directors for less than one year as of such annual meeting. The annual option grant shall vest on the one-year anniversary of the date of grant, provided that the annual grant will in any case be fully vested on the date of the our next annual stockholder meeting (or the date immediately prior to our next annual stockholder meeting if the non-employee director’s service as a director ends at such meeting due to the non-employee director’s failure to be re-elected or the non-employee director not standing for re-election). Non-employee director compensation limit. The cash and equity compensation that each non-employee director is eligible to receive under the policy will be subject to the director compensation limits set forth in the 2025 Plan. 188

Director IPO Option Grants and Option Repricing

On the date of the pricing of this offering, each of our non-employee directors will receive an option under our 2025 Plan to purchase a number
of shares of our common stock with an aggregate grant date fair value of $1.1 million (which, based on an assumed initial public offering price of $15.00 per share, which is the midpoint of the estimated price range set forth on the cover page
of this prospectus, will be 140,701 shares of our common stock), which will have an exercise price equal to the initial price per share to the public in this offering, and will vest in three annual installments such that each such option is fully
vested on the third anniversary of the grant date, subject to such non-employee director’s continuous service with us through each applicable vesting date, provided that each option will vest in full upon a change in control (as defined in the
2025 Plan).

In addition, in September 2025, our board of directors approved the repricing of stock options previously granted to current
executive officers, employees and directors with per-share exercise prices above the initial price per share to the public in this offering, including options held by Mr. Garland and Dr. Ruffolo, Jr., which were “underwater”, meaning
that the exercise price per share of these options