Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 34

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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’s Common Stock, which vested immediately upon issuance. The Company compensation expense based on the weighted-average
fair market value per share of the awards on the grant date of $0.1 million.

Cryptocurrency
Consulting

Effective
June 27, 2025, the Company entered into an agreement (the “Crypto Consulting Agreement”) for a third-party consultant to
evaluate and advise on the potential adoption of a part cryptocurrency treasury reserve strategy. The Crypto Consulting Agreement contains
a term of 12 months and required compensation of $0.2 million in the form of shares of the Company’s Common Stock. On June 27,
2025, the Company issued 11,952 shares of Common Stock valued at the closing price for the previous day, $20.08. The $0.2 million of
compensation was recorded as a prepaid expense in the condensed consolidated balance sheets. For the three and nine months ended September
30, 2025, the Company recorded $0.1 million and $0.1 million of general and administrative expense within the condensed consolidated
statements of operations and comprehensive loss related to the amortization of the prepaid expenses.

Management
Shares

Effective
September 19, 2025, 140,000 and 60,000 shares of the Company’s Common Stock were issued to the Company’s CEO and CFO, respectively.
The shares were approved by the Board as a one-time award for services provided to the Company. The Company recorded the shares at their
fair value, as determined by the Company’s closing share price on the prior trading day, September 18, 2025. The Company recorded
$1.1 million within general & administration expense in the condensed consolidated statement of operations and comprehensive loss
during the three and nine months ended September 30, 2025 in relation to the shares.

Restricted
Stock

By unanimous written consent of the Board, the Company granted 13,125 Restricted Stock Units to three Board members (4,375 RSUs per Board member) for past
services performed on August 12, 2025. The RSUs fully vested on the grant date and the expense was recorded to general administrative
expense in the condensed consolidated statement of operations and comprehensive loss based upon the CDT closing share price of $13.92
on the date of the grants.

There
were 6 shares of restricted Common Stock vested as of September 30, 2025 and September 30, 2024.

Stock
Options

The
Company granted