Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 33

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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 stock-based,
or other cash-based awards.

On
August 5, 2025, at the Company’s 2025 Annual Meeting of Stockholders, stockholders approved an amendment and restatement of the
Company’s 2023 Stock Incentive Plan (as amended, the “Amended 2023 Stock Incentive Plan”) to authorize an additional
250,000 shares of Common Stock for awards under the Amended 2023 Stock Incentive Plan. The Amended 2023 Stock Incentive Plan was recommended
and approved by the Board on July 8, 2025. As of September 30, 2025, there were 20,132 shares of Common Stock available for issuance
under the 2023 Plan.

Board
of Directors Shares

On
March 30, 2025, certain non-employee directors elected to receive their unpaid cash retainers due through the period ended June 30, 2025,
under the Director Compensation Program, in the form of fully vested shares of Common Stock. In total, $0.1 million of unpaid retainers
was settled through the issuance 1,294 unregistered shares of Common Stock (the “Retainer Shares”). The Company recorded
the Retainer Shares at their fair value, as determined by intraday share prices of the Company’s Common Stock on March 31, 2025.
In relation to the Retainer Shares, the Company recorded nil and $0.1 million of expense within general & administration expense
in the condensed consolidated statement of operations and comprehensive loss during the three and nine months ended September 30, 2025,
respectively.

On
April 16, 2025, 960
shares of the Company’s Common Stock were issued to a non-employee director. 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, April 14, 2025. The Company recorded zero and $0.1
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.

On
August 5, 2025, the Company approved and granted equity awards to non-employee directors under the 2023 Plan, in the form of 5,625 options
to purchase the Company