Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 269

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 269
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 22, 2024, the Channel board of directors and stockholders approved an amendment to the Prior Plan, increasing the number of shares authorized for issuance from 444,444 shares to 1,944,444 shares. The Amended and Restated 2023 Plan increases the number of shares of Channel common stock that are authorized for issuance from 1,944,444 to 24,000,000. Shares subject to Awards that expire, are forfeited, or are cancelled will again become available for issuance under the Amended and Restated 2023 Plan. Further, shares of Channel common stock delivered to Channel by a participant to satisfy the applicable exercise or purchase price of an award and/or to satisfy any applicable tax withholding obligation (including shares of Channel common stock retained by Channel from the award being exercised or purchased and/or creating the tax obligation) will, as applicable, become or again be available for Award grants under the Amended and Restated 2023 Plan.

Administration

The Amended and Restated 2023 Plan will be administered by Channel board of directors or, in its discretion, by a committee or sub-committee of the Channel board of directors, which is generally expected to the Compensation Committee of the Channel board of directors (the administrator of the plan, as applicable, the “Compensation Committee”). The Compensation Committee has complete discretion to make all decisions relating to the Amended and Restated 2023 Plan and outstanding Awards.

Eligibility

Employees, non-employee members of the Channel board of directors and other natural persons who render bona fide services (not in connection with the offer or sale of securities in a capital-raising transaction and not directly or indirectly promoting or maintaining a market for Channel’s securities) to Channel are eligible to participate in the Amended and Restated 2023 Plan.

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Types of Awards The Amended and Restated 2023 Plan provides for the following types of awards granted with respect to shares of Channel common stock:

| • | incentive and nonqualified stock options to purchase shares of Channel common stock; |

| • | stock appreciation rights, whether settled in cash or Channel common stock; |

| • | direct awards or sales of shares of Channel common stock, with or without restrictions; and |

| • | restricted stock units. |

The recipient of an award under the Amended and Restated 2023 Plan is referred to as a participant. Options. The Compensation Committee may grant incentive stock options