Davis Todd C 4

What Happened
Todd C. Davis, a director of Pelthos Therapeutics, purchased a total of 35,948 shares of Pelthos common stock in two open-market transactions on June 11, 2026. The primary block was 35,445 shares reported at a weighted-average price of $27.80 (total ~$985,534), plus a separate purchase of 503 shares at a weighted-average $28.73 (total ~$14,449). Combined consideration for the purchases was $999,983. These were purchases (code P) reported on a Form 4.

Key Details

• Transaction date: June 11, 2026 (reported in Form 4 filed June 15, 2026).
• Prices reported: weighted averages $27.80 (35,445 shares) and $28.73 (503 shares). Footnotes indicate the first was executed across trades at $27.63–$28.49 and the second at $28.72–$28.94; weighted-average prices reflect multiple fills.
• Total shares acquired: 35,948; total reported cost: $999,983.
• Shares owned after transaction: not specified in the information provided.
• Footnote: F3 notes Mr. Davis is CEO and director of Ligand Pharmaceuticals and may be deemed to beneficially own shares held of record by Ligand, though he disclaims such beneficial ownership except to the extent of any pecuniary interest.
• Filing timeliness: The Form 4 was filed on June 15 for a June 11 trade (filed more than two business days after the transaction), indicating a late filing relative to the usual two-business-day Form 4 deadline.

Context
These were open-market purchases—direct acquisitions of stock rather than option exercises, awards, or gifts. Purchases by insiders are commonly watched by retail investors as one indicator of management buying stock, but they do not by themselves explain the insider's motivation. The filing's footnotes state the reporting person can provide detailed per-trade quantities and prices upon request.