Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1343

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 1343
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 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 noted above, any
awards outstanding under the 2023 Plan upon termination will remain outstanding and will continue to be governed by their existing
terms.

On
January 10, 2023, pursuant to the 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