Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1940

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9C
Chunk 1940
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 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 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