Pelthos Therapeutics (PTHS) director logs small 10b5-1 share sale for tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pelthos Therapeutics director Ezra M. Friedberg reported small, pre-planned share sales and updated his holdings. He sold a total of 558 shares of Pelthos Therapeutics common stock in open-market transactions on July 2, 2026, including 534 shares at a weighted average price of $26.0303 and 24 shares at a weighted average price of $27.3254. According to a footnote, these sales were executed under a Rule 10b5-1 plan adopted on December 16, 2025 to satisfy estimated tax obligations from the vesting of restricted stock units granted by the company.
After these sales, Friedberg continues to hold Pelthos Therapeutics shares both directly and indirectly. Indirect holdings include 40,000 shares held by Key Recovery Group LLC and 82,072 shares held by Balmoral Financial Group LLC. Friedberg is the manager of both entities and may be deemed to beneficially own those shares but disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 558 shares ($14,556)
Net Sell
4 txns
Insider
Friedberg Ezra M
Role
null
Sold
558 shs ($15K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 534 | $26.0303 | $14K |
| Sale | Common Stock | 24 | $27.3254 | $655.81 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 81,066 shares (Direct, null);
Common Stock — 82,072 shares (Indirect, By Balmoral Financial Group LLC)
Footnotes (1)
- 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. This transaction was executed in multiple trades at prices ranging from $25.58 to $26.24. 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. This transaction was executed in multiple trades at prices ranging from $27.20 to $27.63. 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. 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
Total shares sold: 558 shares
Sale block 1 price: $26.0303/share
Sale block 2 price: $27.3254/share
+4 more
7 metrics
Total shares sold
558 shares
Net open-market sales on July 2, 2026
Sale block 1 price
$26.0303/share
534 shares sold at weighted average price
Sale block 2 price
$27.3254/share
24 shares sold at weighted average price
Indirect holdings via Key Recovery Group LLC
40,000 shares
Common stock held indirectly
Indirect holdings via Balmoral Financial Group LLC
82,072 shares
Common stock held indirectly
Net share change
-558 shares
Net-sell direction per transaction summary
10b5-1 plan adoption date
December 16, 2025
Plan governing reported tax-related sales
Key Terms
Rule 10b5-1 plan, restricted stock units, weighted average price, beneficially own, +1 more
5 terms
Rule 10b5-1 plan regulatory
"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
"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"
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
"may be deemed to beneficially own the shares of Common Stock held of record"
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
"disclaims any such beneficial ownership except to the extent of his pecuniary interest therein"
FAQ
What insider transactions did Pelthos Therapeutics (PTHS) report for Ezra M. Friedberg?
Pelthos Therapeutics reported that director Ezra M. Friedberg sold 558 shares of common stock on July 2, 2026. The sales occurred in open-market transactions under a pre-arranged Rule 10b5-1 trading plan, primarily to cover estimated tax obligations from vesting restricted stock units.
Was the Pelthos Therapeutics (PTHS) insider sale made under a Rule 10b5-1 plan?
Yes. The filing states the reported sale was made under a Rule 10b5-1 plan adopted on December 16, 2025. The plan transactions were intended to satisfy estimated tax obligations arising from vesting restricted stock units granted by Pelthos Therapeutics.
What does Ezra M. Friedberg’s Form 4 disclosure say about beneficial ownership in Pelthos Therapeutics (PTHS)?
The disclosure explains that Ezra M. Friedberg is manager of Balmoral Financial Group LLC and Key Recovery Group LLC, which hold Pelthos shares. He may be deemed to beneficially own those shares but expressly disclaims beneficial ownership except to the extent of his pecuniary interest in each entity.