Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 421

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 421
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     | —           |     |   $22.68 |     | 5/15/2033  |     | —            |     | $—        |     | —           |     | $—        |
| Eric Lang, Chief Medical Officer                                         |     |        32,500 |     |        97,500 |     | —           |     |     1.30 |     | 6/14/2034  |     | —            |     | —         |     | —           |     | —         |

Equity Incentive Plans The Channel Therapeutics Corporation 2023 Equity Incentive Plan On January 10, 2023, the Channel board of directors adopted and submitted for stockholder approval the Prior Plan, which Prior Plan was later approved by the Channel stockholders. On February 15, 2023, Channel amended the Prior Plan to increase the number of shares available for issuance thereunder to 444,444 and on October 22, 2024, Channel further amended the Prior Plan to increase the number of shares available for issuance thereunder to

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1,944,444. The following summary of the material features of the Prior Plan is qualified in its entirety by reference to the complete text of the Prior Plan. The Prior Plan will terminate on January 10, 2033, in accordance with its terms, although, awards outstanding under the Prior Plan will continue to be governed by their existing terms after the Prior Plan’s expiration. Share Reserve . Channel has reserved 1,944,444 shares of Channel common stock for issuance under the Prior Plan. Unissued shares of common stock subject to awards that fail to settle, vest or be fully exercised prior to expiration or other termination shall again become available for grant under the terms of the Prior Plan. Administration . The Channel board of directors currently administers the Prior Plan. The compensation committee of the Channel board of directors administers the Prior Plan. The administrator has complete discretion to make all decisions relating to the Prior Plan and outstanding awards. Eligibility . Key employees, non-employee members of the Channel board of directors and other persons who render services of special importance to Channel’s management, operation or development are eligible to participate in the Prior Plan. Types of Awards . The Prior Plan provides for the following types of awards granted with respect to shares of Channel common stock:

| • | incentive and nonqualified stock options to purchase shares of Channel’s common stock; |

| • |