Company: PTHS
Filing Date: 2025-11-25
Form Type: DEF 14A
Source: 0001753926-25-001827
Chunk: 31

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-11-25
Form: DEF 14A
Chunk 31
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000 and will be eligible to receive Annual Bonus, which will be paid no later than 90 days following the end of the fiscal year in which the Annual Bonus was earned. The Annual Bonus will have a maximum amount of 40% of Mr. Rangarao’s base salary and is contingent upon Mr. Rangarao’s meeting his Annual Bonus Goals set by the Company and the Board.

The Rangarao Employment Agreement also provides that, subject to the approval of the Board, Mr. Rangarao will be granted one or more Equity Awards covering 124,000 shares of the Company’s Common Stock in the form of Options, RSUs, or a combination thereof, as determined by the Board. On July 2, 2025, the Board approved the grant of Options to acquire 930,000 shares of the Company’s Common Stock and 305,178 RSUs to Mr. Rangarao in accordance with the Rangarao Employment Agreement.

The Rangarao Employment Agreement contains standard terms relating to termination of employment for cause, good reason, as well as standard provisions relating to Mr. Rangarao’s rights to receive unpaid salary through the date of termination and accrued but unused vacation time in accordance with Company policy and all other payment and benefits to which Mr. Rangarao shall be entitled to under the terms of the Employment Agreement.

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Cash Bonuses

Mr. Plesha was entitled to receive a cash
bonus of $250,000, Mr. Knuettel was entitled to receive a cash bonus of $100,000 and Mr. Rangarao was entitled to receive a cash
bonus of $150,000, payable by the Company as of the third business day following the consummation of the Merger, or as of
the end of the pay period in which the consummation of the Merger occurs, and in no event, later that December 31, 2025.

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Outstanding Equity Awards as of December 31, 2024

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

| Name                        
 and                         
 Principal Position          
 Scott Plesha,               
 Chief Executive Officer     |     |      Option 
      Awards 
      Number 
          of 
  Securities 
  Underlying 
 Unexercised 
     Options 
 Exercisable