Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1207

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 1207
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199

There
were 415,239 broker non-votes with respect to the third proposal.

Proposal
4 – The reincorporation of the Company in Nevada and simultaneous name change to “Channel Therapeutics Corporation”
was approved by the Company’s stockholders. The final voting results were as follows:

    For
     
    Against
     
    Abstain

    2,603,047
     
    2,335
     
    929,691

There
were 415,239 broker non-votes with respect to the fourth proposal.

Proposal
5 – The appointment of Marcum LLP as the independent registered public accounting firm of the Company for the fiscal
year ending December 31, 2024 was ratified by the Company’s stockholders. The final voting results were as follows:

    For
     
    Against
     
    Abstain

    3,941,195
     
    6,918
     
    2,199

Role
of our Board of Directors in Risk Oversight

One
of the key functions of the board of directors is informed oversight of our risk management process. The board of directors does
not anticipate having a standing risk management committee but rather anticipates administering this oversight function directly
through our board of directors as a whole, as well as through various standing committees of our board of directors that address
risks inherent in their respective areas of oversight. In particular, our board of directors is responsible for monitoring and
assessing strategic risk exposure and our audit committee has the responsibility to consider and discuss our major financial risk
exposures and the steps our management has to take to monitor and control such exposures, including guidelines and policies to
govern the process by which risk assessment and management is undertaken. The audit committee also monitors compliance with legal
and regulatory requirements. Our compensation committee also assesses and monitors whether our compensation plans, policies and
programs comply with applicable legal and regulatory requirements.

86 

Committees
of Our Board of Directors

Our
board of directors has established an audit committee, a compensation committee and a nominating and corporate governance committee,
each of which has the composition and the responsibilities described below. Members serve on these committees until their resignation
or until otherwise determined by our board of directors. Each committee operates under a charter approved by our board of directors.
Copies of each committee’s charter will be posted on the investor relations section of our website at www.channeltherapeutics.com.