Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 425

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 425
---
 in whole or in part at any time provided that stockholder approval shall be required to the extent necessary under the rules applicable to ISOs or under NYSE American or other applicable securities exchange rules.

The administrator may, without stockholder approval, amend the Prior Plan as necessary to enable awards to qualify for favorable foreign tax, securities or other treatment in the case of a participant who is subject to a jurisdiction outside the United States.

Amendments or Termination . The administrator may at any time amend, suspect or terminate the Prior Plan, subject to stockholder approval in the case of an amendment if the amendment increases the number of shares available for issuance or materially changes the class of persons eligible to receive incentive stock options. The Prior Plan will terminate automatically ten years after the later of the date when the Channel board of directors adopted

<div align='center'>242</div>

TABLE OF CONTENTS

the plan or the date when the Channel board of directors most recently approved an increase in the number of shares of Channel common stock reserved thereunder which was also approved by the Channel stockholders, and as noted above, any awards outstanding under the Prior Plan upon termination will remain outstanding and will continue to be governed by their existing terms. On January 10, 2023, pursuant to the Prior Plan, Channel granted: (a) options to purchase up to an aggregate of 141,667 shares of Channel common stock to employees and directors and (b) 16,667 RSUs to employees. On March 9, 2023, pursuant to the Prior Plan, Channel granted an option to purchase up to 15,000 shares of Channel common stock to a director. On June 23, 2023, Channel granted options to acquire 52,000 shares of Channel common stock to employees (inclusive of options that have not yet been granted but Channel has agreed to grant in connection with the closing of the IPO) and canceled an RSU for 16,667 shares issued to an employee on January 10, 2023. The offers and sales of the above securities were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated under Section 3(b) of the Securities Act, as transactions by an issuer not involving any public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701. The recipients of the above securities represented their intentions to acquire the securities for investment