Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 428

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 428
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isting of twelve 30 calendar day periods).

On February 10, 2024, Channel entered into a Stock Rescission Agreement (the “Stock Rescission Agreement”) with certain affiliates of the representative of the underwriters of the IPO (the “Representative”), pursuant to which Channel rescinded 111,129 shares of Channel common stock held by such affiliates of the Representative and agreed to refund an aggregate of $91,512 paid by such affiliates of the Representative in consideration therefor within 30 days of the effective date of the Stock Rescission Agreement.

**Review, Approval or Ratification of Transactions with Related Parties**

Channel has adopted a written related-person transactions policy that provides that its executive officers, directors, nominees for election as a director, beneficial owners of more than 5% of Channel common stock and any members of the immediate family of the foregoing persons, are not permitted to enter into a material related-person transaction with Channel without the review and approval of its audit committee, or a committee composed solely of independent directors in the event it is inappropriate for its audit committee to review such transaction due to a conflict of interest. Such policy provides that any request for Channel to enter into a transaction with an executive officer, director, nominee for election as a director, beneficial owner of more than 5% of its Channel common stock or with any of their immediate family members or affiliates, in which the amount involved exceeds the lesser of (i) $120,000 or (ii) one percent of the average of Channel’s total assets at year-end for the last two fiscal years, will be presented to its audit committee for review, consideration and approval. In approving or rejecting any such proposal, Channel expects that its audit committee will consider the relevant facts and circumstances available and deemed relevant to the audit committee, including, but not limited to, whether the transaction is on terms no less favorable than terms generally available to an unaffiliated third party under the same or similar circumstances and the extent of the related person’s interest in the transaction.

**Indemnification Agreements with Directors and Executive Officers**

Channel has entered into indemnification agreements with each of its directors and executive officers. Each of those indemnification agreements is in the form approved by the Channel board of directors. Those indemnification agreements require that, under the circumstances and to the extent provided for therein, Channel indemnifies such persons to the fullest extent permitted by applicable law against certain expenses and other amounts incurred by any such person as a result of such person being made a party to certain actions