Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 459

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 459
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 Except as otherwise provided in Channel’s bylaws and articles of incorporation, any vacancies or newly created directorships on Channel’s board of directors resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director. Channel’s bylaws also provide that only our chairman of the board of directors, chief executive officer, president or one or more stockholders holding shares in the aggregate entitled to cast not less than ten percent of the votes at that meeting may call a special meeting of stockholders. The combination of these provisions makes it more difficult for Channel’s existing stockholders to replace Channel’s board of directors as well as for another party to obtain control of us by replacing Channel’s board of directors. Since Channel’s board of directors has the power to retain and discharge Channel’s officers, these

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provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated Channel preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change Channel’s control.

These provisions are intended to enhance the likelihood of continued stability in the composition of Channel’s board of directors and its policies and to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to reduce Channel’s vulnerability to hostile takeovers and to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for Channel’s shares and may have the effect of delaying changes in Channel’s control or management. As a consequence, these provisions may also inhibit fluctuations in the market price of Channel’s common stock that could result from actual or rumored takeover attempts. Channel believes that the benefits of these provisions, including increased protection of Channel’s potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure Channel, outweigh the disadvantages of discouraging takeover proposals, because negotiation of takeover proposals could result in an improvement of their terms.

#### Listing
Shares of Channel common stock are listed on the NYSE American LLC under the symbol “CHRO”.

#### Transfer Agent and Registrar
The transfer agent and registrar for Channel common stock is Nevada Agency and Transfer Company. The transfer agent’s address is 50 West