Company: PTHS
Filing Date: 2025-09-16
Form Type: 8-K/A
Source: 0001753926-25-001500
Chunk: 107

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-09-16
Form: 8-K/A
Chunk 107
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 2,400,000.

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 has been filed as Exhibit 10.14 of the Original Filing with the SEC. 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 300,000
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 400,000. Following
the 9-for-1 reverse stock split, effective February 15, 2024, there were 44,445 shares underlying the Prior Plan. On October 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 44,445 shares to 194,445 shares. The Amended and Restated 2023 Plan increases the number of shares
of Common Stock that are authorized for issuance from 194,445 to 2,400,000. 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 Common Stock
delivered to the Company 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 Common Stock retained by the Company 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 the board of directors or, in its discretion, by a committee or sub-committee of the board of directors, which is generally expected to the Compensation Committee of the 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 board of directors and