Company: CDT
Filing Date: 2025-07-08
Form Type: DEF 14A
Source: 0001641172-25-018242
Chunk: 55

Company: CDT Equity Inc.
Filing Date: 2025-07-08
Form: DEF 14A
Chunk 55
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 including, the current availability under the 2023 Plan is limited to 2,833 shares, the alignment of the interests of the Board and executive management with those of the shareholders, certain of the executive officers ongoing forfeiture of compensation, providing a meaningful reserve of equity under the Amended 2023 Plan to be granted for attracting and/or retaining employees.

If the Amended 2023 Plan is approved by our stockholders, we intend to utilize the shares authorized under the Amended 2023 Plan to continue our practice of incentivizing key individuals through equity grants. We currently anticipate that the new shares requested in connection with the approval of the Amended 2023 Plan will last for about 8 years, based on our historic grant rates, new hiring and the approximate current share price, but could last for a different period if actual practice does not match recent rates or our share price changes materially. As noted below, our Compensation Committee retains full discretion under the Amended 2023 Plan to determine the number and types of awards to be granted under the 2023 Plan, subject to the terms of the 2023 Plan.

Summary of the Material Terms of the Amended 2023 Plan

Set forth is a summary of the other provisions in the Amended 2023 Plan. This summary does not purport to be a complete description of all the provisions of the Amended 2023 Plan. It is qualified in its entirety by reference to the full text of the Amended 2023 Plan.

Eligibility and Administration

Awards under the Amended 2023 Plan may be granted to individuals who are then officers, employees or consultants or are the officers, employees, or consultants of the Company of certain of the Company’s subsidiaries. Such awards also may be granted to directors of the Company Board. Only employees of our company or certain of our subsidiaries may be granted incentive stock options (“ISOs”). As of July 3, 2025, there were approximately 7 employees and 3 non-employee directors of the Company eligible to participate in the Amended 2023 Plan. Under the Amended 2023 Plan, the plan administrator, subject to applicable law, has the authority to determine and select award recipients from the list of eligible individuals.

The Compensation Committee is expected to administer the Amended 2023 Plan unless the Board assumes authority for administration. The Amended 2023 Plan provides that the Board or Compensation Committee may delegate its authority to grant awards to employees other than executive officers and certain senior executives