Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 229

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 229
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Under
the Nasdaq listing standards, a majority of the members of our board of directors must qualify as “independent,” as affirmatively
determined by the board of directors. The Company’s board of directors affirmatively determined that all of the Company’s
directors, except for Messrs. Bligh, Tapolczay, and Regan are independent directors within the meaning of the applicable Nasdaq listing
standards. A majority of the members of the board of directors and all members of the Audit Committee, Compensation Committee, and Nominating
and Corporate Governance Committee are independent directors under the applicable Nasdaq listing standards.

75

Board
Leadership Structure

The
board of directors is responsible for the control and direction of the Company. We separate the positions of Chairperson of the board
of directors and Chief Executive Officer of the Company. Dr. Lewis-Hall serves as the Chairperson of the board of directors and Dr. Tapolczay
serves as the Chief Executive Officer of the Company and as a member of the board of directors. The board of directors believe that this
structure serves us well by maintaining a link between management, through Dr. Tapolczay’s membership on the board of directors,
and the non-executive directors led by Dr. Lewis-Hall in her role as a non-executive Chairperson.

Board
Oversight of Risk

One
of the key functions of our board of directors is to conduct informed oversight of our risk management process. The board of directors
does not anticipate having a standing risk management committee, but rather administers this oversight function directly through the
board of directors as a whole, as well as through various standing committees of the board of directors that address risks inherent in
their respective areas of oversight. In particular, the board of directors will be responsible for monitoring and assessing strategic
risk exposure and the Audit Committee will have the responsibility to consider and discuss the Company’s major financial risk exposures
and the steps our management will take to monitor and control such exposures, including guidelines and policies to govern the process
by which risk assessment and management is undertaken. The Audit Committee also monitors compliance with legal and regulatory requirements.
The Compensation Committee assesses and monitors whether our compensation plans, policies, and programs comply with applicable legal
and regulatory requirements.

Committees
of the Board of Directors

The
board of directors has formed the committees described below. Each of the committees operates pursuant to a written charter adopted by
the committee or our board of directors.