Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 268

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 268
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#### TABLE OF CONTENTS

#### THE AMENDED AND RESTATED 2023 PLAN

#### General
On April 11, 2025, the Channel board of directors adopted a resolution approving the Amended and Restated 2023 Plan. On April 16, 2025, the Majority Stockholders approved the Amended and Restated 2023 Plan, which became effective as of the same date.

The purpose of the Amended and Restated 2023 Plan is to encourage key employees, directors, and consultants of Channel and its subsidiaries to continue their association with Channel by providing favorable opportunities for them to participate in the ownership of Channel and its subsidiaries and in its future growth through the granting of equity ownership opportunities and incentives based on Channel common stock that are intended to align their interests with those of Channel stockholders. The Amended and Restated 2023 Plan provides for awards of incentive and non-statutory stock options, restricted stock and restricted stock units, stock appreciation rights, performance shares and performance share units (collectively, the “Awards”).

The Amended and Restated 2023 Plan reflects amendments to the Prior Plan, which, among other things, increase the number of shares of Channel common stock that are authorized to be issued under the Prior Plan from 1,944,444 to 24,000,000.

**A copy of the Amended and Restated 2023 Plan is attached as Annex D to this information statement.

Summary of the Amended and Restated 2023 Plan Provisions**

The principal provisions of the Amended and Restated 2023 Plan are summarized below. This summary is qualified in its entirety by reference to the copy of the Amended and Restated 2023 Plan which is attached as Annex D and has been filed with the SEC with this information statement. To the extent the description below differs from the text of the Amended and Restated 2023 Plan, the text of the Amended and Restated 2023 Plan will control.

Share Reserve

An aggregate of 3,000,000 shares of common stock were originally authorized for issuance under the Prior Plan. In 2024, the Channel board of directors and stockholders approved an amendment to the Prior Plan, increasing the number of shares authorized for issuance to 4,000,000. Following the 9-for-1 reverse stock split, effective February 15, 2024, there were 444,444 shares underlying the Prior Plan. On October