Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1544

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 1544
---
2023 Plan, we granted: (a) options to purchase up to an aggregate of 141,667 shares of Common
Stock to employees and directors and (b) 16,667 RSUs to employees. On March 9, 2023, pursuant to the 2023 Plan, we granted an
option to purchase up to 15,000 shares of Common Stock to a director. On June 23, 2023, we granted options to acquire 52,000 shares
of Common Stock to employees (inclusive of options that have not yet been granted but the Company has agreed to grant in connection
with the closing of the IPO) and canceled an RSU for 16,667 shares issued to an employee on January 10, 2023.

The
offers and sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon
Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under Section 3(b) of the
Securities Act, as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating
to compensation as provided under Rule 701. The recipients of the above securities represented their intentions to acquire the
securities for investment only and not with a view to or for sale in connection with any distribution thereof.

Director
Compensation for Fiscal Year 2024

We
have not implemented a formal policy with respect to compensation payable to our non-employee directors. From time to time, we
have granted equity awards to attract individuals to join our board of directors and for their continued service thereon. In 2024,
independent directors received $14,396 in cash compensation. In addition, in 2024 directors were granted options to purchase 90,000
shares of Common Stock at fair market value as of the date of issuance, expiring ten years from issuance and RSUs representing
356,664 shares of Common Stock. In addition, we reimburse our directors for expenses associated with attending meetings of our
board of directors and its committees. Our board of directors is still in the process of considering the non-employee director
compensation policy.

    Name 
    Fees Earned  or Paid in  Cash ($)  
    Stock  Awards ($)  
    Stock  Option  Awards ($)(1)  
    Non-Equity  Incentive  Plan  Compensation ($)  
    Nonqualified  Deferred