Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1086

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 1086
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. Our compensation committee also assesses and monitors whether our compensation plans, policies and
programs comply with applicable legal and regulatory requirements.

86 

Committees
of Our Board of Directors

Our
board of directors has established an audit committee, a compensation committee and a nominating and corporate governance committee,
each of which has the composition and the responsibilities described below. Members serve on these committees until their resignation
or until otherwise determined by our board of directors. Each committee operates under a charter approved by our board of directors.
Copies of each committee’s charter will be posted on the investor relations section of our website at www.channeltherapeutics.com.

Audit
Committee

Our
audit committee is composed of Ezra Friedberg and Chia-Lin Simmons. Ezra Friedberg is the chairperson of our audit committee.
The composition of our audit committee meets the requirements for independence under the current NYSE American listing standards
and SEC rules and regulations. Each member of our audit committee is financially literate. In addition, our board of directors
has determined that Ezra Friedberg is an “audit committee financial expert” as defined in Item 407(d)(5)(ii) of Regulation
S-K promulgated under the Securities Act. This designation does not impose any duties, obligations or liabilities that are greater
than are generally imposed on members of our audit committee and our board of directors. Our audit committee is responsible for,
among other things:

    ●
    our accounting and
    financial reporting processes, including our financial statement audits and the integrity of our consolidated financial statements;

    ●
    our compliance with
    legal and regulatory requirements;

    ●
    reviewing and approving
    related person transactions;

    ●
    selecting and hiring
    our registered independent public accounting firm; 

    ●
    the qualifications,
    independence and performance of our independent auditors; and

    ●
    the preparation
    of the audit committee report to be included in our annual proxy statement.

Compensation
Committee

Our
compensation committee is composed of Richard Malamut and Chia-Lin Simmons. Richard Malamut is the chairperson of our compensation
committee. The composition of our compensation committee meets the requirements for independence under the current NYSE American
listing standards and SEC rules and regulations. Each member of this committee is: (i) an outside director, as defined pursuant
to Section 162(m) of the Internal Revenue Code of 1986, as amended; and (ii) a non-employee