Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1627

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 1627
---
 interfere with
the exercise of independent judgment in carrying out the responsibilities of a director.

Our
board of directors has determined that all of our non-employee directors, other than Mr. Todd Davis, are independent, as defined
under applicable NYSE American rules. In making such determination, our board of directors considered the relationships that each
such non-employee director has with our company and all other facts and circumstances that our board of directors deemed relevant
in determining his or her independence, including the beneficial ownership of our capital stock by each non-employee director
and the transactions involving them described in the section entitled “Certain Relationships and Related-Party Transactions.”

Audit
committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act. In order to be considered
independent for purposes of Rule 10A-3 of the Exchange Act, a member of an audit committee of a listed company may not, other
than in his or her capacity as a member of the audit committee, the board of directors or any other board committee: (i) accept,
directly or indirectly, any consulting, advisory or other compensatory fee from the listed company or any of its subsidiaries;
or (ii) be an affiliated person of the listed company or any of its subsidiaries.

Our
executive officers are elected by, and serve at the discretion of, our board of directors.

Board
Meetings and Attendance

During
the 2024 fiscal year, the board of directors held five (5) board meetings, with all board members in attendance for each, and
also conducted other matters by unanimous written consent.

Annual
Meeting Attendance

On
October 22, 2024, the Company held its 2024 Annual Meeting of Stockholders (the “Annual Meeting”). Set forth below
are the five proposals that were voted on at the Annual Meeting and the stockholder votes on each such proposal, as certified
by the inspector of elections for the Annual Meeting. These proposals are described in further detail in the Definitive Proxy
Statement on Schedule 14A filed by the Company with the SEC on September 26, 2024 (the “Proxy Statement”).

As
of the close of business on September 20, 2024, the record date for the Annual Meeting, 5,766,704 shares of the Company’s
common stock, par value $0.0001 per share (“Common Stock”), were issued, outstanding and entitled to vote. Holders
of