Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 1114

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 11
Chunk 1114
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 fiscal year and (ii) such smaller number 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
December 31, 2024, there were 84,885 shares
of Common Stock available for issuance under the 2023 Plan.

    F-26

During the year ended December 31, 2024, the Company issued a total of
56,700 stock options to employees and non-employee directors with an aggregate grant date fair value of $0.4 million. For
the year ended December 31, 2024 and December 31, 2023, there was a total of $1.6 million and $0.2 million, respectively in stock-based
compensation expense recognized within General and Administrative expenses on the consolidated statements of operations and Comprehensive
Loss, respectively.

On
June 24, 2024, in connection with a services agreement with an unrelated third party to provide marketing services, the Company
issued 961 shares of its Common Stock (the “Service Shares”). The Company valued the Service Shares at $156 per
share, the closing price of the Company’s Common Stock on June 21, 2024, adjusted for the Reverse Stock Split. The total
compensation for these shares is $0.2 million
which will be recognized within general and administrative expense over the service period of the agreement.

On
November 18, 2024, certain non-employee directors elected to receive a portion of their unpaid cash retainers due under the Director
Compensation Program in the form of shares. In total, $0.1 million
of unpaid retainers was settled through the issuance 10,027 shares
of Common Stock (the “Retainer Shares”). The Company valued the Retainer Shares at $9.0 per
share, the closing price of the Company’s Common Stock on November 18, 2024, adjusted for the Reverse Stock Split. The Company
previously accrued in the unpaid retainers in Accrued expenses and other current liabilities in the Company’s consolidated
balance sheets. Upon issuance of the shares of Common Stock, the accrual was reduced based on the value of