Director Ezra Friedberg of Pelthos (PTHS) sells 144 shares under 10b5-1 tax plan
Rhea-AI Filing Summary
Pelthos Therapeutics Inc. director Ezra M. Friedberg reported a small tax-related share disposition. On May 14, 2026, 144 shares of common stock were disposed of at a weighted average price of $27.007 per share to satisfy estimated tax obligations tied to vesting restricted stock units.
The filing states these sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 16, 2025. After this transaction, Friedberg directly holds 81,883 common shares, and he is also the manager of entities that hold 40,000 shares (Key Recovery Group LLC) and 82,072 shares (Balmoral Financial Group LLC), which he may be deemed to beneficially own only to the extent of his pecuniary interest.
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Insider Trade Summary 10b5-1
Net Seller: 144 shares
Net Sell
3 txns
Insider
Friedberg Ezra M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 144 | $27.007 | $4K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 81,883 shares (Direct);
Common Stock — 82,072 shares (Indirect, By Balmoral Financial Group LLC);
Common Stock — 40,000 shares (Indirect, By Key Recovery Group LLC)
Footnotes (3)
- F1. This transaction reflects the sale of shares, made pursuant to a Rule 10b5-1 plan adopted December 16, 2025, for the purpose of satisfying estimated tax obligations in connection with the vesting of restricted stock units granted by the Issuer.
- F2. This transaction was executed in multiple trades at prices ranging from $27.00 to $27.0101. The price reported in column 4 above reflects the weighted average price of the shares of Common Stock sold. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3. Ezra Friedberg is the manager of Balmoral Financial Group LLC ("Balmoral") and the manager of Key Recovery Group LLC ("Key"). By virtue of this relationship, Mr. Friedberg may be deemed to beneficially own the shares of Common Stock held of record by each of Balmoral and Key. Mr. Friedberg disclaims any such beneficial ownership except to the extent of his pecuniary interest therein.
Key Figures
Tax-related shares disposed: 144 shares
Weighted average sale price: $27.007 per share
Direct holdings after transaction: 81,883 shares
+3 more
6 metrics
Tax-related shares disposed
144 shares
Disposition on May 14, 2026 to satisfy estimated tax obligations
Weighted average sale price
$27.007 per share
Average price for 144 shares disposed in multiple trades
Direct holdings after transaction
81,883 shares
Common stock directly held by Ezra M. Friedberg after disposition
Key Recovery Group LLC holdings
40,000 shares
Indirect holdings attributed via Key Recovery Group LLC
Balmoral Financial Group LLC holdings
82,072 shares
Indirect holdings attributed via Balmoral Financial Group LLC
Tax-withholding transactions
1 transaction, 144 shares
Summary shows one F-code tax-withholding disposition
Key Terms
Rule 10b5-1 plan, restricted stock units, weighted average price, beneficially own, +1 more
5 terms
Rule 10b5-1 plan financial
"sale of shares, made pursuant to a Rule 10b5-1 plan adopted December 16, 2025"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
restricted stock units financial
"satisfying estimated tax obligations in connection with the vesting of restricted stock units granted by the Issuer"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted average price financial
"The price reported in column 4 above reflects the weighted average price of the shares of Common Stock sold."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficially own financial
"Mr. Friedberg may be deemed to beneficially own the shares of Common Stock held of record by each of Balmoral and Key."
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interest financial
"Mr. Friedberg disclaims any such beneficial ownership except to the extent of his pecuniary interest therein."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Pelthos Therapeutics (PTHS) disclose for Ezra M. Friedberg?
Pelthos Therapeutics director Ezra M. Friedberg reported disposing of 144 common shares at a weighted average price of $27.007 per share. The filing characterizes this as a tax-related transaction connected to the vesting of restricted stock units granted by the company.
Was the Pelthos Therapeutics (PTHS) insider trade made under a Rule 10b5-1 plan?
Yes. The filing states the share sale was executed under a Rule 10b5-1 trading plan adopted on December 16, 2025. Such plans pre-schedule trades, indicating this tax-related disposition was arranged in advance rather than timed discretionarily by the director.
What indirect Pelthos Therapeutics (PTHS) holdings are associated with Ezra M. Friedberg?
The filing shows 40,000 shares held by Key Recovery Group LLC and 82,072 shares held by Balmoral Financial Group LLC. Friedberg is manager of both entities and may be deemed to beneficially own these shares only to the extent of his pecuniary interest.
Was the Pelthos Therapeutics (PTHS) insider transaction an open-market sale for investment purposes?
The filing describes the event as a tax-related sale of 144 shares to cover estimated tax obligations on vesting restricted stock units. It was carried out under a pre-arranged Rule 10b5-1 plan, indicating a mechanistic transaction rather than a discretionary investment decision.