Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 37

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 of shares of Common Stock as determined by the Board or the
applicable committee of the Board. The 2023 Plan allows for awards to be issued to employees and non-employee directors in the form of
options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance stock units, dividend
equivalents, other stock-based, or other cash-based awards. As of June 30, 2025, there were 10,712 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 10,350 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 $58,000 and $0.1 million of expense within general & administration expense in the condensed consolidated statement of operations and
comprehensive loss during the three and six months ended June 30, 2025, respectively.

On
April 15, 2025, 7,679 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 $0.1 million
within general & administration expense in the condensed consolidated statement of operations and comprehensive loss during the three
and six months ended June 30, 2025 in relation to the shares.

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