Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 226

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 226
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, act, omission, neglect, breach of duty or any matter claimed against a director or officer of Channel, by reason of him or her serving in such capacity that existed or occurred at or prior to the Effective Time (including in connection with the Merger Agreement or the Merger). Interests of LNHC Directors and Executive Officers in the Merger In considering the recommendation of the LNHC board of directors with respect to approving the Merger, stockholders should be aware that LNHC’s directors and executive officers may have interests in the Merger that are different from, or in addition to, the interests of Ligand generally. These interests may present them with actual or potential conflicts of interest, and these interests, to the extent material, are described below:

| • | Todd C. Davis, Chairman of the Channel board of directors, is the Chief Executive Officer of Ligand and a member of the Ligand board of directors, and will be appointed to the combined company’s board of directors upon consummation of the Merger; and |

| • | Upon the closing of the Merger, Ligand will pay transaction bonuses in the following amounts to the following Ligand employees who have been serving as LNHC’s executive officers (subject, in each case, to their continued employment through the closing of the Merger): |

| Name            |     | Role                                                          |     |   Amount |
| Scott M. Plesha |     | Chief Executive Officer of LNHC                               |     | $250,000 |
| Sai Rangarao    |     | SVP, Head of Sales, Marketing & Commercial Operations of LNHC |     | $150,000 |

The LNHC board of directors was aware of these potential conflicts of interest and considered them, among other matters, in reaching its decision to approve the Merger Agreement and the Merger, and to recommend that the Ligand approve the Merger Agreement and the Merger as contemplated by this information statement. Ownership Interests As of May 2, 2025, none of LNHC’s current directors and executive officers beneficially owned any shares of LNHC capital stock. Management Following the Merger As described elsewhere in this information statement, including in the section captioned “ Management Following the Merger,” three of Channel’s existing directors, namely Todd Davis, Ezra Friedberg and

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Dr. Richard Malamut, will continue as directors of the combined company after the Effective Time, and, following the closing of the Merger, will