Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 414

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 414
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 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; |

| • | stock appreciation rights, whether settled in cash or Channel’s common stock; |

| • | direct awards or sales of shares of Channel’s common stock, with or without restrictions; and |

| • | restricted stock units. |

The recipient of an award under the Prior Plan is referred to as a participant. Options . The administrator may grant incentive stock options (“ISOs”) and nonqualified stock options (“NSOs”) under the Prior Plan. The administrator determines the number of shares of Channel common stock subject to each option, its exercise price, its duration and the manner and time of exercise; provided, however, that no option may be issued under the Prior Plan with an exercise price that is less than the fair market value of Channel common stock as of the date the option is granted, and no option issued as an ISO will have a duration that exceeds ten years. ISOs may be issued only to Channel’s employees or employees of Channel’s corporate subsidiaries, and in the case of a more than ten percent stockholder, must have an exercise price that is at least 110% of the fair market value of Channel common stock as of the date the option is granted, and may not have a duration of more than five years. The administrator, in its discretion, may provide that any option is subject