Pelthos Therapeutics Announces CFO Transition: John M. Gay Appointed as Chief Financial Officer

Durham, N.C., April 10, 2026 – Pelthos Therapeutics Inc. (NYSE American: PTHS), a pharmaceutical company focused on commercializing innovative therapeutic products for unmet patient needs, has announced a significant executive leadership change that could impact its strategic direction and financial management going forward.

Key Highlights

• CFO Appointment: On April 6, 2026, the Board of Directors appointed John M. Gay, age 49, as Chief Financial Officer (CFO), effective April 10, 2026. Mr. Gay was previously serving as Senior Vice President, Finance & Accounting since August 13, 2025.
• Transition from Prior CFO: Mr. Gay replaces Mr. Knuettel as CFO. The company expects to enter into a separation agreement with Mr. Knuettel pursuant to his existing employment agreement. Material terms of this agreement will be disclosed in a future filing if required, which investors should watch for as it may involve financial commitments by the company.
• Board Appointment: In addition to his CFO duties, Mr. Gay was also appointed to the Company’s Board of Directors on April 10, 2026.

Details of Mr. Gay’s Employment Agreement

• Start Date: April 10, 2026
• Base Salary: \$425,000 per year, subject to review and potential adjustment by the Board.
• Annual Bonus: Target of 40% of base salary, based on achievement of annual goals set by the Company and Board. Notably, for 2026, his prior service as SVP, Finance & Accounting is recognized for bonus calculation, so he will be eligible for a full-year bonus.
• Bonus Payment: At the Company’s discretion, the bonus may be paid in cash, equity, or a combination, depending on the Company’s overall financial health. Payment will be made by March 15 following the fiscal year in which it is earned. The Executive must be employed at year-end to receive the bonus.
• Other Benefits: Mr. Gay is entitled to receive benefits provided to similarly situated executive employees, subject to the terms of the plans and Company policy. Benefits may change at the discretion of the Company.
• Business Expenses: The Company will reimburse reasonable and appropriate business expenses, subject to compliance with Company policies.
• Termination for Cause: The agreement outlines specific circumstances under which termination for cause may occur, including material breach, fraud, embezzlement, or gross misconduct.

Corporate Structure and Trading Information

• Corporate Headquarters: 4020 Stirrup Creek Drive, Suite 110, Durham, NC 27703
• State of Incorporation: Nevada
• Fiscal Year End: December 31
• Stock Listing: Common Stock, par value \$0.0001 per share, trading under the symbol PTHS on the NYSE American.
• Emerging Growth Company Status: Pelthos Therapeutics is classified as an Emerging Growth Company under SEC rules, which may impact its disclosure obligations and adoption of new accounting standards.

Potential Impact and Shareholder Considerations

• Leadership Stability: The appointment of a new CFO, especially one with prior experience inside the company, could be seen as a stabilizing move for investors. However, any leadership transition at the C-suite level can also introduce uncertainty regarding execution of financial and strategic plans.
• Potential Separation Costs: The specific terms of the outgoing CFO’s separation agreement are not yet disclosed. Investors should monitor for future filings as such agreements can impact near-term financials.
• Strategic Direction: With Mr. Gay’s promotion and Board appointment, investors may anticipate possible shifts in financial priorities, capital allocation, or risk management processes. The market often reacts to perceived changes in company leadership, so this transition may be price sensitive.
• Compensation Structure: The significant base salary and potential for equity-based bonuses may align Mr. Gay’s interests with shareholders, especially if performance targets are ambitious and meaningful.

Forward-Looking Statements and Risk Factors

This announcement includes forward-looking statements, including expectations for future performance, product development, strategic execution, and market opportunity. These statements involve risks and uncertainties, including but not limited to the Company’s limited operating history, its ability to develop its pipeline, protect intellectual property, procure new customers, and execute its growth strategy. Actual results may differ materially.

Contact Information

Investors: LifeSci Advisors, LLC – Mike Moyer, Managing Director ([email protected])
Media: KWM Communications

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Investors should review all SEC filings and consult with their own advisors before making investment decisions related to Pelthos Therapeutics Inc.

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