Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 533

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 533
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 (as described in the Bligh Employment Agreement). However, Conduit UK Management LTD. may, at its sole discretion
and by written notice, terminate Mr. Bligh’s employment immediately and provide compensation to Mr. Bligh for the unexpired
portion of such notice period. The Bligh Employment Agreement replaces and supersedes the prior employment agreement between Conduit Pharmaceuticals
Limited and Mr. Bligh.

Mr.
Sragovicz

On
May 10, 2024, Adam Sragovicz informed the Board of Directors of his intention to resign as Chief Financial Officer of the Company. In
connection with his resignation, Mr. Sragovicz agreed to continue in his current role, with the same responsibilities and obligations
as he previously had, through the day after the filing of this Quarterly Report on Form 10-Q, so that his resignation will become effective
on May 15, 2024. Mr. Sragovicz’s resignation was not due to any disagreement with management or the Company’s operations,
policies or practices.

The
Company entered into a separation agreement with Mr. Sragovicz on May 12, 2024, which provides for continued payment of his base salary,
and subsidized health insurance premiums, for a period of four months after the effective date of his resignation. In exchange for these
benefits, Mr. Sragovicz has signed a mutual release of claims, agreed to a mutual non-disparagement covenant, and re-affirmed certain
confidentiality, non-solicitation and post-departure cooperation covenants.

79

Outstanding
Equity Awards at 2024 Fiscal Year-End

The
following table summarizes all of the outstanding equity-based awards held by our named executive officers as of December 31, 2024, the
end of our fiscal year. The option shares reported below have been adjusted to reflect the 1-for-100
reverse stock split on January 24, 2025.

    OPTION AWARDS
  
    NAME 
    OPTION OR STOCK AWARD GRANT DATE 
    NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS (#) EXERCISABLE  
    NUMBER OF SECURITIES UNDERLYING UNEXERCISED OPTIONS
(#) UNEXERCISABLE
  
    OPTION EXERCISE PRICE 
($)  
    OPTION EXPIRATION DATE
  
    David Tapolczay 
    11/18/2024(2)