CEO Jaisim Shah retires; Henry Ji appointed CEO and President; Stephen Ma named COO

Semnur Pharmaceuticals, Inc.

Jaisim Shah resigned as CEO, President, and director effective March 13, 2026; retirement not due to any disagreement.
Henry Ji (age 61), formerly Executive Chairperson, appointed CEO and President; also CEO of Scilex (SCLX) and Vivasor.
Stephen Ma, previously CFO and Secretary, appointed COO effective March 17, 2026; also COO of Scilex.
Shah receives six months base salary ($1,250,000/yr) and 90-day extension to exercise vested stock options per separation agreement.
Board size reduced from six to five directors following Shah's resignation.

item 5.02 item 9.01

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