附件3.1。

VENTYX BIOSCIENCES, INC.

偏好、權利和限制的指定證書

的

A系列 非表決 可轉換優先股

根據第151條

下方簽署的Paul A.Friedman博士特此證明：

VENTYX BIOSCIENCES, INC.根據特拉華州公司法第103條的規定，特此證明，以下董事會在2019年4月4日依照特拉華州公司法的第141條(c)和第151條的規定，正式通過以下決議: "，一個特拉華州的公司（以下簡稱「公司」）公司根據特拉華州公司法第103條的規定，根據（特拉華州公司法）特此證明，根據DGCL第151條的規定，公司董事會已經通過了以下決議（董事會本提案自本日期起繼續完全有效：

已解決依據公司修訂後的公司章程中明確規定的權限 “公司章程公司已獲授權發行一系列指定爲A系列的優先股 無表決權的股份 可轉換優先股，每股面值爲$0.0001，特此授權公司，並確定了該系列的指定股數、權力、首選權、權利、條件、限制以及限制（除公司章程中適用於優先股的任何規定外），並確定了Series A的優先權偏好、權利和限制的指定書 無表決權的股份 可轉換優先股如下獲得批准:

A系列 無表決權 可轉換優先股

第 1. 定義爲了本文件的目的，以下術語應具有以下含義:

“附屬公司「」指任何直接或間接通過一個或多箇中介控制或被控制或與個人或實體共同控制的個人或實體，如根據美國1933年證券法修正案第144條下使用和解釋的術語所述。

“第十章 轉讓證券 第10.1節 交易 如果發行受託人證明，債券持有人可以交換並迅速交付發行受託人這樣的證明，無論是有欠款未償還，還是實質性週轉的時候，都可以在世界範圍範圍內經由源和債券市場交易。「」指除星期六、星期日、美國聯邦法定假日或紐約州授權或法律或其他政府行爲要求銀行機構關閉的任何一天。

“委員會:「」指美國證券交易委員會。

“普通股「」指公司普通股，每股面值$0.0001，以及這些證券未來可能被重新分類爲的任何其他類別的股票。

“轉換日期「」指轉換爲A系列優先股的日期 第 6.

“轉換 價格「」指A系列優先股的價格爲每股$1.00，如有股息、股票分割、合併或其他類似資本重組，應適當調整。

“Conversion Shares「」指根據本協議條款轉換爲普通股的股份。

“被視爲清算事件「」指： （i）公司或其子公司出售、租賃、轉讓、獨家許可或其他處置（無論是合併還是其他方式）集團公司全部或幾乎全部資產的（或任何相關交易系列導致的全部或幾乎全部資產的出售、租賃、轉讓、獨家許可或其他處置）；（ii）核心子公司的清算、解散、清算或類似程序；（iii）集團公司全部或幾乎全部知識產權的出售、轉讓或其他處置或獨家許可（或任何相關交易系列導致集團公司全部或幾乎全部知識產權的出售、轉讓或其他處置或獨家許可）；（iv）公司或任何核心子公司及其發行的優先權股本的大多數或多數表決權的出售、轉讓、交易或其他處置，或要求出售、轉讓或其他處置公司或任何核心子公司及其發行的優先權股票的大多數或多數表決權的獨家許可；（v）公司或任何核心子公司併入任何其他企業的合併、合併、合併或其他業務組合，或任何其他公司重組或安排，情況如下：（1）公司或此類任何核心子公司在此類交易之前擁有已發行的股本票據的50%的股東（對於任何作爲國內公司的核心子公司，實際控制人是WFOE I或WFOE II(適用的)）在此類交易之後立即擁有少於所有已發行和流通股份的表決權的50%；或者（2）在公司採用雙重投票結構之前，導致創始人蔘與方（連同其關聯公司和與創始人蔘與方共同行動的人，如有的話）共同擁有公司發行和流通的所有權益證券的表決權，直接或間接持有創始人蔘與方（連同與創始人蔘與方共同行動的人，如有的話）共同擁有的所有流通證券的表決權少於交易後存續企業的所有發行和流通權益證券的表決權的50%；或（vi）在未經系列A多數、系列b多數、系列C多數、系列D多數和系列E多數的書面同意的情況下，任何集團公司之間對於旨在爲公司提供對控制實體的控制和合並能力的合同之間的（包括但不僅限於終止（根據法律或其他方式）、重大違約或修改）的任何違規行爲，均以盡力避免爲所有集團公司維護其合規性和有效性，並且包括終止（因法律或其他方式）、重大違約或更改合作協議內代表A多數、系列B多數、系列C多數、系列D多數和系列E多數的解約（依據法律或其他方式）。解約或重大修改。不影響上述情況的是，創始人蔘與方（包括其關聯方和與創始人蔘與方共同行動的人，如有的話）擁有公司投票權的總表決權少於50%不構成或被視爲極限清算事件。「」指：(a)涉及合併或合併事項，其中(i)公司是合併方之一或(ii)公司的子公司是合併方之一且公司根據該合併或合併交易發行其股票；但不包括公司或子公司涉及的任何合併或合併事項，根據這類合併或合併事項，公司在合併或合併前，公司的流通股份繼續代表，或轉換爲或交換成代表，在合併或合併後立即最少具有相當多數表決權的資本股份，在(1)生存的或產生的公司，或(2)如果生存的或產生的公司是另一公司的全資子公司，則爲合併或合併後立即該生存的或產生的公司的母公司；或（b）出售、出租、轉讓、獨家許可或其他

 

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在一筆交易或一系列相關交易中，公司或公司的任何子公司對公司及其全部或幾乎全部資產的轉讓，或公司的一個或多個子公司的出售或轉讓（無論通過合併、合併或其他方式），如果公司及其全部子公司的幾乎全部資產 被此類子公司或子公司持有，除非此類銷售、租賃、轉讓、排他性許可或其他處置是向公司的全資子公司。

“特拉華州公司法” 意指特拉華州一般公司法。

“使擁有公司註冊證券類別10%以上股權的官員、董事或實際股東代表簽署人遞交表格3、4和5（包括修正版及有關聯合遞交協議）,符合證券交易法案第16(a)條及其下屬規則規定的要求；” 意指美國1934年修訂版《證券交易法》及其制定的規則和法規。

“持有人” 意指A類優先股的任何持有人。

“發行日期「」 表示2024年9月23日。

“清算「」在第5.21(a)條中有所規定 第 5.

“持有「」 表示任何個人或公司、合夥企業、信託、有限責任公司、合資公司、有限責任合夥公司、股份有限公司、政府（或其機構或下屬單位）、或任何其他形式的實體。

“證券購買協議(以下簡稱「協議」)「」 表示定於2024年9月23日生效的關於購買和出售A類優先股的某項證券購買協議，該協議由公司與Aventis Inc.之間達成。

“Series A優先股「」在第5.21(a)條中有所規定 第蘋果CEO庫克大規模售不可認購投票股票，套現超3億港元。.

“分享轉換 數字「」在第5.21(a)條中有所規定 第6(a).

“簽署日期「」表示證券購買協議的生效日期。

“定價「」表示每股100.00美元。

“標準結算期「」指轉換日期有效的公司主要交易市場或報價系統有關普通股的標準結算期，以交易日數表示，截至發行日期是「T+1」。

“交易日「」表示普通股在任何交易所交易的日期，或者如果普通股未在主要證券交易所交易，則指普通股在其他正在交易的證券市場上交易的日期。

第 2. 職位、金額和麪值；分配；排名.

(a) 本特許證書指定的優先股系列的獨特序列標識應被指定爲公司的A系列 無表決權的股份 可轉換優先股（"系列A優先股）。指定的A系列優先股數量爲70,601。 A系列優先股的面值爲每股0.0001美元。

(b) 公司應將A系列優先股在其特定用於此目的的公司過戶代理人維護的記錄中登記（稱爲「A優先股登記」），以便隨時註明持有人的名義。公司及其過戶代理人可能視A系列優先股的登記持有人爲絕對股東，用於任何轉換以及所有其他目的。A系列優先股只能以記賬形式發行。公司或其過戶代理人應在持有人將需要轉讓的A系列優先股交還給公司過戶代理人時，在A系列優先股登記中登記對任何A系列優先股的轉讓。在進行任何此類登記或轉讓時，應向受讓人簽發關於已轉讓A系列優先股股份的新的或記賬通知，並向尚未轉讓的股份簽發新的或記賬通知。系列A優先股登記其餘股份未轉讓的部分的記賬通知

 

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如果有任何轉讓，應在三個工作日內發給轉讓人，本設計規定的條款旨在使所有持有人隨時受益，並可由任何持有人強制執行。

第 3. 股息在發行日期後的任何時候，只要A系列優先股股份已發行並尚未清算，A系列優先股持有人應有權獲得董事會分紅所需的任何資金和合法可用的資產中，每股A系列優先股應有權獲得0.0001美元的股息（根據對A系列優先股進行任何股票分紅、股票拆分、合併或其他類似的資本重組事件適當調整，在同一日曆年內支付普通股以外的任何股票股利）。按照本句之前的規定有權獲得A系列優先股股息的權利， 第 3 不累積，並且未因未宣佈或支付此類股票股息而給A系列優先股持有人有權獲得股息。對A系列優先股持有人支付股息應按照比例分配。除上述優先權利外，A系列優先股持有人有權獲得且公司將支付每股A系列優先股 平價 基礎上相等的股息。 按常規股票轉換 基礎上，不考慮此處規定或其他規定，將分紅派息以與實際支付給普通股股票相同形式的方式分配給普通股股票（普通股股票分紅時，如實際支付給普通股股票的分紅與普通股股票的分紅相同時（除了普通股股票以補發普通股形式支付的股票分紅）。不得向A系列優先股支付其他股息

第 4. 投票權.

（a）未經大多數A系列優先股已發行股份的股東的肯定投票或同意，公司不得對A系列優先股的權力、優先權或權利進行不利改變，也不得修改或修訂本《特權、權利和限制說明書》。

（b）除非在 第4（a） 或者根據法律要求，Series A優先股的持有人在任何公司事務上都沒有投票權。

第 5. 清算在任何自願或強制性的清算、解散或清算公司的情況下，包括控制權變更交易，或視爲清算事件（任何此類事件，稱爲「事項」),公司可供分配給股東的資產應在對Series A優先股宣佈但尚未支付的任何股息全額支付後，根據持有人持有的股份數，在Series A優先股和普通股的持有人之間按比例分配，爲此目的，將所有Series A優先股都視爲根據本特權確認書的條款在此種清算前立即轉換爲普通股，不考慮在此或其他方面規定的任何轉換限制，也不考慮轉換Series A優先股是否有足夠的普通股股份可以用於執行轉換。清算 . 在任何自願或強制性的的清算、解散或公司清算、包括控制權變更交易，或 Deemed Liquidation Event(任何此類事件, 一個「」)，公司資產可用於分配給其股東的分配帳戶應分發給 Series A優先股和普通股的持有人，比例爲每位持有人持有的股份數，本目的是將所有的 Series A優先股視爲按照本《特權描述》的條款在這種清算前即時轉換爲普通股，不考慮此處或其他任何地方設定的轉換限制或不考慮股份夠不夠用以達成轉換的情況。

第 6. 轉換.

(a) 按持有人選擇轉換根據所規定的限制條件 第6(d)，根據持有人的選擇，每股A系列優先股可轉換成若干股普通股，其計算方法爲（A）指定價格及所有已宣佈但未支付的分紅之和除以（B）轉換價格，然後向下取整以得到最接近的整股普通股（"普通股轉換數量）。在任何按照此條款進行的轉換程度上 第6(a) 會使持有人擁有的普通股數量超過根據其發行的股份數量 第6(d) 或者在適用持有人的合理判斷中，導致違反1976年《哈特·斯科特·羅迪諾反壟斷改進法案》，隨時經修訂（簡稱“HSR違規”），則在轉換日期，（x）只有可能進行轉換而不超過所述限制的A系列優先股份額的那部分 第6(d) 且不導致HSR違規的情況下將被轉換爲普通股，（y）原本應轉換爲普通股的剩餘A類優先股份將保留爲A類優先股。

 

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(b) 轉換機制.

(i) 轉換通知持有人應根據 。 通過提供相關轉換通知，進行轉換 第6(a) 通過提供公司及其過戶代理附上的轉換通知表格進行 附件A（一個“轉換通知已妥當完成並執行。 轉換通知必須指定要轉換的A系列優先股股數，議題轉換前即擁有的A系列優先股股數，以及議題轉換而發行的普通股股數。 假設公司的過戶代理參與存託公司（DTC’）快速自動化證券轉讓計劃，並且根據證券購買協議第 4.1 節的規定，轉換股份可能免除受限制的標籤，並且在符合適用證券法的前提下，轉換通知可以指定，根據持有人的選擇，適用的轉換股份是否應當存入持有人通過DTC 的存款提取代理佣金系統（此係統爲“DWAC 系統”，任何此類交付都是一個“DWAC交貨）。 在沒有這樣持有人的選擇的情況下，此類轉換股份將以記賬形式存入公司的過戶代理處的持有人帳戶，並應貼有證券購買協議第 4.1 節中規定的受限制標籤。 此類轉換被視爲有效的日期（一個“轉換日期「轉換日」),應定義爲完成並簽署的轉換通知通過傳真或其他電子傳輸發送，並在公司及其過戶代理在正常工作時間內收到，或在轉換通知中指定的時間後收到。在轉換通知中規定的計算將在明顯或數學錯誤不存在的情況下控制。

(ii) 轉換後電子發行交付。轉換日期後不遲於標準結算期間包括的交易日數（“股票交付日期）, 公司的過戶代理應該（a）在DWAC傳遞的情況下（如果持有人要求並符合適用證券法和證券購買協議第4.1節的規定），通過在DWAC系統中記入持有人提名的DTC參與者帳戶電子轉移這些轉換股份，或者（b）如果正在轉換的A類優先股以全球形式發行，符合與DTC的賬簿結算，轉換股份應通過DTC的賬簿轉讓設施交付給持有人（如果持有人要求並符合適用證券法和證券購買協議第4.1節的規定）。如果在DWAC交付的情況下，這些股份未能在股票交付日期之前以電子方式交付給或按照持有人的指示交付，適用的持有人有權選擇通過書面通知公司及其過戶代理在或之前隨時收到這些股份，如適用，在此情況下，公司的過戶代理應立即指示將任何通過DWAC系統交付給持有人的普通股退回，代表轉換爲公司未能成功轉讓的A類優先股。 理解並同意轉換股份是受限制的證券，應承載證券購買協議第4.1節中規定的限制性標籤，但是，有關限制性標籤可能根據證券購買協議第4.1(c)節的規定予以撤銷。

(iii) 絕對義務. Subject to the Holder’s right to rescind a Notice of Conversion pursuant to 第 6(b)(ii) above, the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of Series A Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by such Holder or any other Person of any obligation to the Corporation or any violation or alleged violation of law by such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Corporation to such Holder in connection with the issuance of such Conversion Shares. Nothing herein shall limit a Holder’s right to pursue actual damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein and such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided that such Holder shall not receive duplicate damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit a Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

(iv) Compensation for 買入 on Failure to Timely Deliver Shares Upon Conversion如果公司未能按照規定的股票交割日期進行DWAC交割 第6(b)(i)（除了由於持有人向公司提供的信息不正確或不完整而導致的失敗），並且在股票交割日期之後，持有人需要在開放市場上購買

 

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如果恢復股份交換權利的轉換髮起人（"持有人"）轉讓或以其他方式轉讓公司股票，以交付任何交易日後，轉化股份將交付該持有人擁有權利在不受限制的傳奇約定的情況下從公司收到的賣出貨物的銷售滿意度滿意度日期（"買入），則公司應在該持有人請求後的四個（4）個交易日內，而該持有人自行決定的情況下，（A）支付給該持有人現金（除了該持有人可獲得或選擇的任何其他補救措施之外）：（x）以上述計劃中給出的轉化問題的公司股票數量乘以（2）相關的公共股份的公司股票的實際的銷售價格（包括任何券商佣金）和（B）按照該持有人的選擇，重新發布（如果已經放棄）提交以進行轉換或向該持有人提供應發出的公共股數量公司股票，如果公司及時遵守其根據 第的交付要求在6(b)(ii)下.。例如，如果持有人購買總價值爲11,000美元的公司股份以應對與企圖轉換相關的對 買入 進行的持有人的擁有系列A優先股，其中根據通用銷售價格（包括任何佣金）產生該購買義務的實際的總價值是前一句（A）總共爲10,000美元，公司必須支付給該持有人1,000美元。持有人應在發生 買入，在行使日當天的普通股收盤價的B倍。 指示應付給持有人的金額 有關的 買入 連同由公司合理要求的確認和其他證據。本文件中的任何內容均不限制持有人根據本文件、法律或在權益中可獲得其他救濟措施的權利，包括但不限於就公司未能按照本協議要求及時交付普通股或 A系列優先股份轉換而採取一項具體履行法令和/或臨時禁令救濟措施；但，提供，持有人不得同時 (i) 要求重新發行未及時兌現的 A系列優先股份而提交轉換的股份；以及 (ii) 收到如果公司按照交付要求及時履行其交付要求則應發行的普通股股數 第6(b)(i).

(v) 應付轉換而發行的股份保留公司保證將隨時保留和保留其已獲授權但未發行的普通股份，目的僅爲在 A 系列優先股份轉換後發行，不受其他人的優先購買權或任何其他實際或潛在購買權限制，高於 A 系列優先股份持有人，以便發行總數量不低於股份總數，此股份應發行的股數（考慮到調整） 第 7在所有未結轉的A系列優先股轉換之時。這種保留應遵守，而不考慮 第6(d)。公司保證所有應發行的普通股在發行時應當經過充分授權，有效發行，已全額支付 可免評估 並且沒有任何抵押和其他負擔。

(vi) 碎股。在將A系列優先股轉換爲普通股時，不得發行普通股的碎股或代表普通股的憑證。所有碎股應向下舍入至最接近的整數普通股。

(vii) 過戶稅。對於轉換股票的電子記賬項的發行，不得向任何持有人收取任何文件印花稅或類似稅項，該稅項可能與發行或傳遞此類電子記賬項有關，但公司不必支付可能與轉讓有關的任何稅款，涉及以非註冊持有人的名義發行和傳遞任何此類電子記賬項的轉換，該公司不需要發行或傳遞此類電子記賬項，除非請求發行該等電子記賬項的個人或個人已向公司支付了該稅款或已確保公司滿意地支付了該稅款。

(c) 作爲股東的身份。在每個換股日期，A系列優先股轉換爲普通股時：(i) 轉換的A系列優先股應被視爲轉換爲普通股；和 (ii) 持有人作爲上述轉換的A系列優先股的持有人的權利將終止和終止，僅除了有權收到該等普通股的電子記賬項以及因公司未能遵守本權利證明書條款而由本證明書規定或根據法律或平等法規定對此類持有人的任何救濟。在所有情況下，持有人應保留對於公司未能轉換A系列優先股的所有權利和救濟。

 

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(d) Limitations on Conversion. Except as set forth in this Section 6(d), a Holder shall not have the right to convert any portion of the Series A Preferred Stock or take delivery of shares of Common Stock upon any conversion of shares of Series A Preferred Stock, nor shall the Corporation have any obligation to effect any purported conversion, in each case, to the extent that after giving effect to such conversion, action or delivery, as applicable, such Holder (together with such Holder’s Affiliates, any other Persons acting as a group together, and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the Exchange Act (such Persons, “Attribution Parties”)) would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such conversion. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock held and/or beneficially owned by such Holder and its Attribution Parties shall include the number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon conversion of the Series A Preferred Stock with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining, unconverted portion of the Series A Preferred Stock beneficially owned by such Holder and its Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Corporation beneficially owned by such Holder and its Attribution Parties (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. For purposes of this Section 6(d), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Corporation’s most recent Form 10-K, Proxy Statement, Form 10-Q, Current Report on Form 8-K or other public filing with the Commission, as the case may be, (2) a more recent public announcement by the Corporation or (3) any other notice by the Corporation or the Corporation’s transfer agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written or oral request of a Holder, where such request indicates that it is being made pursuant to this Section 6(d), the Corporation shall within one (1) Trading Day confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. The Holder shall disclose to the Corporation the number of shares of Common Stock that it, together with the Attribution Parties holds and/or beneficially owns and has the right to acquire through the conversion of the shares of Series A Preferred Stock and any limitations on conversion analogous to the limitation contained herein contemporaneously or immediately prior to submitting a Notice of Conversion. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Corporation, including the Series A Preferred Stock, by a Holder and its Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. In the event that the issuance of shares of Common Stock to the Holder upon the conversion of any of such Holder’s shares of Series A Preferred Stock results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock, the number of shares so issued by which such Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and such Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has been deemed null and void and/or any other shares of Series A Preferred Stock have been purported to be converted or mandatorily converted in excess of the limitations set forth in this Section 6(d), the Corporation shall return to the Holder the number of shares of Series A Preferred Stock corresponding to such excess. Upon delivery of a written notice to the Corporation, a Holder may from time to time increase or decrease the Maximum Percentage to any other percentage (not in excess of 19.99% of the issued and outstanding Common Stock immediately after giving effect to the issuance of the Common Stock issuable upon conversion of the Series A Preferred Stock if exceeding that limit would result in a change of control under Nasdaq Listing Rule 5635(b) or any successor rule) as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61^st) day after such notice is delivered to the Corporation and (ii) any such increase or decrease will apply only to such Holder and other Attribution Parties and not to any other holder of Series A Preferred Stock, provided, for the avoidance of doubt, that no such decrease shall affect the validity of any prior conversion of the Series A Preferred Stock by a Holder or any Attribution Party. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms hereof in excess of the Maximum Percentage shall not be deemed to be beneficially owned by a Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the Exchange Act. No prior inability to convert Series A Preferred Stock pursuant to this Section 6(d) shall have any effect on the applicability of the provisions of this Section 6(d) with respect to any subsequent determination of whether Series A Preferred Stock may be converted. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 6(d) to the extent necessary to correct this paragraph or any portion of this paragraph which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 6(d) or to make changes or supplements necessary or desirable to properly give effect to such limitation.

 

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Section 7. Certain Adjustments.

(a) Stock Dividends and Stock Splits. If the Corporation, at any time while any shares of Series A Preferred Stock are outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock with respect to the then outstanding shares of Common Stock; (ii) subdivides outstanding shares of Common Stock into a larger number of shares; or (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Corporation) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event (excluding any treasury shares of the Corporation). Any adjustment made pursuant to this Section 7(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision or combination.

(b) Reclassification, Exchange or Substitution. If the Common Stock issuable upon the conversion of the Series A Preferred Stock shall be changed into the same or a different number of shares of any class or classes of stock, whether by capital reorganization, reclassification, or otherwise (other than a subdivision or combination of shares or stock dividend provided for above, or a reorganization, merger, consolidation, or sale of assets provided for below), then and in each such event the holder of each such share of Series A Preferred Stock shall have the right thereafter to convert such share into the kind and amount of shares of stock and other securities and property receivable, upon such reorganization, reclassification, or other change, by holders of the number of shares of Common Stock into which such shares of Series A Preferred Stock might have been converted immediately prior to such reorganization, reclassification, or change, all subject to further adjustment as provided herein.

(c) Merger or Reorganization, etc. If there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Series A Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by paragraphs (a) or (b) of this Section 7), then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Series A Preferred Stock shall be convertible into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of the Corporation issuable upon conversion of one share of Series A Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction (without regard to any limitation in Section 6(d) on the conversion of the Convertible Preferred Stock); and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors) shall be made in the application of the provisions in this Section 7 with respect to the rights and interests thereafter of the holders of the Series A Preferred Stock to the end that the provisions set forth in this Section 7 (including provisions with respect to changes in and other adjustments of the Conversion Price, as applicable) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Series A Preferred Stock.

(d) Calculations. All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100^th of a share, as the case may be. For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding.

(e) Notice to the Holders.

(i) Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation shall promptly deliver to each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

(ii) Other Notices. If (A) the Corporation shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Corporation is a party, any sale or transfer of all or substantially all of the assets of the Corporation, or any compulsory share exchange whereby

 

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the Common Stock is converted into other securities, cash or property, or (E) the Corporation shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Corporation, then, in each case, the Corporation shall cause to be filed at each office or agency maintained for the purpose of conversion of the shares of Series A Preferred Stock, and shall cause to be delivered to each Holder at its last address as it shall appear upon the stock books of the Corporation, at least 10 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distribution, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice; and provided further, that in each case, the Corporation will only be required to provide such information to the Holder if such information shall have be made known to the public prior to or in conjunction with such notice being provided to the Holder.

Section 8. Miscellaneous.

(a) Waiver. Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designations shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate of Designations or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to any term of this Certificate of Designations on one or more occasions shall not be considered a waiver or deprive that party (or any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of Designations. Any waiver by the Corporation or a Holder must be in writing. Notwithstanding any provision in this Certificate of Designations to the contrary, any provision contained herein and any right of the Holders of Series A Preferred Stock granted hereunder may be waived as to all shares of Series A Preferred Stock (and the Holders thereof) upon the written consent of a majority of shares of Series A Preferred Stock, unless a higher percentage is required by the DGCL, in which case the written consent of the Holders of not less than such higher percentage shall be required.

(b) Severability. If any provision of this Certificate of Designations is invalid, illegal or unenforceable, the balance of this Certificate of Designations shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law.

(c) Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.

(d) Headings. The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designations and shall not be deemed to limit or affect any of the provisions hereof.

(e) Status of Converted Series A Preferred Stock. If any shares of Series A Preferred Stock shall be converted into shares of Common Stock pursuant to Section 6 hereof, the Board of Directors shall take such action as is required such that such shares shall resume the status of authorized but unissued shares of preferred stock of the Corporation and shall no longer be designated as Series A Preferred Stock.

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IN WITNESS WHEREOF, Ventyx Biosciences, Inc. has caused this Certificate of Designations of Preferences, Rights and Limitations of Series A Non-Voting Convertible Preferred Stock to be executed by its duly authorized officer this 23^rd day of September, 2024.

 

[SIGNATURE PAGE TO CERTIFICATE OF DESIGNATIONS]

 

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ANNEX A

NOTICE OF CONVERSION

(TO BE EXECUTED BY THE REGISTERED HOLDER

IN ORDER TO CONVERT SHARES OF SERIES A PREFERRED STOCK)

The undersigned Holder hereby irrevocably elects to convert the number of shares of Series A Preferred Stock indicated below, represented by stock certificate No(s). ____ (the “Preferred Stock Certificates”), into the number of shares of Common Stock of Ventyx Biosciences, Inc., a Delaware corporation (the “Corporation”), equal to the Share Conversion Number, multiplied by the number of shares of Series A Preferred Stock indicated below, provided that, to the extent such conversion would cause such Holder to exceed the Maximum Percentage (as defined in Section 6(d) of the Certificate of Designations), any shares of Series A Preferred Stock convertible into the number of shares of Common Stock that would result in the foregoing exceeding the Maximum Percentage shall not convert into shares of Common Stock and such Holder shall retain any such shares of Series A Preferred Stock. If securities are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Capitalized terms utilized but not defined herein shall have the meaning ascribed to such terms in that certain Certificate of Designations of Preferences, Rights and Limitations of Series A Non-Voting Convertible Preferred Stock (the “Certificate of Designations”) filed by the Corporation with the Delaware Secretary of State on September 23, 2024.

The undersigned Holder’s right to convert the shares of Series A Preferred Stock is subject to the Maximum Percentage described in Section 6(d) of the Certificate of Designations. Therefore, the number of shares of Common Stock beneficially owned by the undersigned Holder (together with any Attribution Parties), including the number of shares of Common Stock issuable upon conversion of the Series A Preferred Stock subject to this Notice of Conversion, but excluding (i) exercise of the remaining, unconverted portion of the Series A Preferred Stock beneficially owned by such Person and its Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Corporation beneficially owned by such Person and its Attribution Parties (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein, shall not exceed the Maximum Percentage of the shares of Common Stock outstanding immediately following the effectiveness of this conversion.

Conversion calculations:

Date to Effect Conversion:

Number of shares of Series A Preferred Stock owned immediately prior to Conversion:

Number of shares of Series A Preferred Stock to be Converted:

Number of shares of Common Stock to be Issued:

Address for delivery of physical certificates:

Or

for DWAC Delivery:

DWAC Instructions:

Broker no:

Account no:

 

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Acknowledged and Agreed:

VENTYX BIOSCIENCES, INC.

By:

Name:

Title:

 

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