Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 158

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 158
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ook a review of the independence of the individuals named above and has determined that each of Dr. Eun Sook Lee, Dr. Ji Yeon Baek and Nicholas Fernandez qualifies as “independent” as defined under the applicable Nasdaq rules. Role of the Board in Risk Oversight One of the key functions of the ParentCo Board is informed oversight of ParentCo’s risk management process. The ParentCo Board does not anticipate having a standing risk management committee, but rather anticipates administering this oversight function directly through the ParentCo Board as a whole, as well as through various standing committees of the ParentCo Board that address risks inherent in their respective areas of oversight. In particular, the ParentCo Board is responsible for monitoring and assessing strategic risk exposure and ParentCo’s audit committee will have the responsibility to consider and discuss ParentCo’s major financial risk exposures and the steps its management will take to monitor and control such exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken. The audit committee also monitors compliance with legal and regulatory requirements.

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ParentCo’s compensation committee also assesses and monitors whether ParentCo’s compensation plans, policies and programs comply with applicable legal and regulatory requirements. Committees of the ParentCo Board The ParentCo Board has established an audit committee, a compensation committee and a nominating and corporate governance committee. The composition and responsibilities of each of the committees of the ParentCo Board are described below. Members serve on these committees until their resignation or until otherwise determined by the ParentCo Board. The ParentCo Board may establish other committees as it deems necessary or appropriate from time to time. Audit Committee ParentCo’s audit committee consists of Dr. Eun Sook Lee, Dr. Ji Yeon Baek and Nicholas Fernandez. The ParentCo Board has determined that each member of the audit committee satisfies the independence requirements under Nasdaq listing standards and Rule 10A-3(b)(1) of the Exchange Act. The chairperson of the audit committee is Nicholas Fernandez. The ParentCo Board has determined that Nicholas Fernandez is qualified as an “audit committee financial expert” within the meaning of SEC regulations to serve on the ParentCo Board and the audit committee. Each member of our audit committee can read and understand fundamental financial statements in accordance with applicable requirements. In arriving at these determinations, the ParentCo Board has examined each audit committee member’s scope of experience and the nature of their employment. The primary purpose of the audit committee is to discharge the responsibilities of the ParentCo Board with respect to our corporate accounting and