Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1443

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 1443
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 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 provided
that stockholder approval shall be required to the extent necessary under the rules applicable to ISOs or under NYSE American
or other applicable securities exchange rules.

The
administrator may, without stockholder approval, amend the 2023 Plan as necessary to enable awards to qualify for favorable foreign
tax, securities or other treatment in the case of a participant who is subject to a jurisdiction outside the United States.

Amendments
or Termination. The administrator may at any time amend, suspect or terminate the 2023 Plan, subject to stockholder approval
in the case of an amendment if the amendment increases the number of shares available for issuance or materially changes the class
of persons eligible to receive incentive stock options. The 2023 Plan will terminate automatically ten years after the later of
the date when our board of directors adopted the plan or the date when our board of directors most recently approved an increase
in the number of shares of Common Stock reserved thereunder which was also approved by our stockholders, and as