Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 415

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 415
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 under the Exchange Act and independent within the meaning of the independent director guidelines of The NYSE American. None of the proposed combined company’s executive officers serves as a member of the board of directors or compensation committee of any entity that has one or more executive officers who is proposed to serve on the combined company’s board of directors or compensation committee following the completion of the Merger. Non-Employee Director Compensation Prior to the Merger, LNHC did not have a formal policy to provide any cash or equity compensation to its non-employee directors for their service on its board of directors or committees of its board of directors. In connection with closing of the Merger, it is expected that the board of directors of the combined company will adopt a non-employee director compensation policy designed to enable the combined company to attract and retain, on a long-term basis, highly qualified non-employee directors and align its directors’ interests with those of its stockholders. Employee directors will not receive additional compensation for their services as directors. It is expected that each director who is not an employee will be paid cash and equity compensation for serving on the board of directors of the combined company, the amount and terms of which have not yet been determined. The combined company will also reimburse its non-employee directors for reasonable travel and out-of-pocket expenses incurred in connection with attending the board of director and committee meetings.

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CHANNEL’S EXECUTIVE AND DIRECTOR COMPENSATION Channel’s named executive officers for 2024 were Mr. Francis Knuettel II, Channel’s Chief Executive Officer and President, Chief Financial Officer, Treasurer and Secretary, and Dr. Eric Lang, Channel’s Chief Medical Officer. Mr. Knuettel was first appointed in June 2022, and Dr. Lang was first appointed in May 2023. Summary Compensation Table The following table provides information regarding the compensation of Channel’s named executive officers during the years ended December 31, 2024 and 2023.

| Name and Principal Position                                                                |      |     | Year |            |     |   Salary |    |     |   Bonus |          |     |   Option 
   Awards |    |     | Non-Equity     
 Incentive Plan 
 Compensation   |    |     | All Other    
 Compensation |          |     |    Total |
| Francis Knuettel II                                                                        
 Chief Executive and Chief Financial Officer                                                |      |     | 2024 |            |     | $424,923 |    |     | $56,666 |