Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 601

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 601
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 and/or the number of performance shares and/or PSUs earned by such
participant. Payment of earned performance shares and/or PSUs will be in cash, shares of our Common Stock or some combination
of cash and shares of our Common Stock, as determined by the administrator and stated in the award agreement. 

Other
awards. The administrator may issue other types of equity-based or equity-related awards under the 2023 Plan, on such terms
and conditions as the administrator shall determine in its discretion.

Dividends.
Participants holding restricted stock and performance shares will be entitled to receive dividends on our shares, provided that
in the discretion of the administrator, participants will not be entitled to dividends with respect to unvested restricted stock
and performance shares until the stock or shares vest, respectively. Dividend equivalent units may, but are not required to, be
issued with respect to RSUs or PSUs and may be paid in cash, additional shares of our Common Stock or a combination on the date
the shares are delivered, all as determined by the administrator and stated in the award agreement.

Effect
of certain corporate transactions. In the event of a stock split, reverse stock split, stock dividend, recapitalization, combination
of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution
on our Common Stock other than an ordinary cash dividend, the administrator shall make equitable adjustments to awards as it,
in its sole discretion, deems appropriate. In the case of (1) a merger or consolidation of the Company with or into another entity
pursuant to which all of our Common Stock is cancelled or converted into or exchanged for the right to receive cash, securities
or other property, (2) any transfer or disposition of all of our Common Stock for cash, securities or other property pursuant
to a share exchange or other transaction, (3) the sale or other disposition of all or substantially all of the Company’s
assets or (4) any liquidation or dissolution of the Company, the administrator may take any of a number of actions including providing
for the assumption of awards, the termination of awards (with advance notice permitting exercise), Awards to become exercisable
at or prior to the event, the liquidation of awards or any combination of the foregoing.

94 

Amendments
to the 2023 Plan. Our board of directors may amend, suspend or terminate the 2023 Plan in whole or in part at any time