Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 462

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 462
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Role
of our Board of Directors in Risk Oversight

One
of the key functions of the board of directors is informed oversight of our risk management process. The board of directors does
not anticipate having a standing risk management committee but rather anticipates administering this oversight function directly
through our board of directors as a whole, as well as through various standing committees of our board of directors that address
risks inherent in their respective areas of oversight. In particular, our board of directors is responsible for monitoring and
assessing strategic risk exposure and our audit committee has the responsibility to consider and discuss our major financial risk
exposures and the steps our management has to take to monitor and control such exposures, including guidelines and policies to
govern the process by which risk assessment and management is undertaken. The audit committee also monitors compliance with legal
and regulatory requirements. 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