Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1438

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 1438
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 to receive (i) six months of salary at the same rate existing immediately
prior to his termination, (ii) 50% of his annualized salary, prorated from January 1 of the year of termination and through the
date of termination, (iii) vesting of all outstanding options with time-based vesting, and (iv) coverage of 18 months of group
medical, dental and/or vision benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, if he elects
to continue such benefits. “Cause” and “Good Reason” are each defined in the employment agreement.

Finally,
Dr. Lang agreed to certain non-solicitation and non-competition provisions for a period of 12 months following termination and
to certain confidentiality obligations. Additional terms and conditions are set forth in the employment agreement.

91 

Equity
and Equity-Based Plans

Outstanding
Equity Awards at Fiscal Year-End 

The
following table provides information regarding the outstanding equity awards of our named executive officers during the year ended
December 31, 2024.

    Option Awards
     
    Stock Awards

    Name and Principal Position 
     Number of Securities Underlying Unexercised Options Exercisable  
     Number of Securities Underlying Unexercised Options Unexercisable  
     Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options  
     Option Exercise Price  
    Option Expiration Date 
     Number of shares of Common Stock Unvested  
     Market Value of shares of Common Stock Unvested  
     Equity Incentive Plan Awards: Number of Unearned Unvested Shares  
     Equity Incentive Plan Awards: Market or Payout Value of Unearned Unvested Shares 

    Francis Knuettel II, Chief Executive Officer and Chief Financial Officer 
     17,778  
     4,445  
     —  
    $22.68  
    09/30/2032 
     —  
    $—  
     —  
    $— 

    Francis Knuettel II, Chief Executive Officer and Chief Financial Officer 
     2,778  
     —  
     —  
     22.68  
    1/10/2033 
     —