Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 97

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 97
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 Company on certain strategic transactions, financings and accounting matters. In
November 2024, the board of directors authorized the grant of a one-time additional equity retainer to Ms. Charles in the form of 750
fully vested shares to recognize the significant time she has devoted to the Company since September 2023, in her capacity as a member
of the board, assisting and advising the Company on certain strategic transactions and financings.

Board members who are also
employees of the Company, such as Dr. Tapolczay and Mr. Bligh, are not eligible to participate in the non-employee director compensation
program described above and did not receive any compensation for service on the board of directors. Moreover, Dr. Regan waived his right
to receive any compensation under the program.

The
2023 Plan provides that the sum of the grant date fair value of all equity-based awards and the maximum amount of cash that may become
payable to any individual for services as a non-employee director during any calendar year may not exceed $750,000, increased to $1,000,000
in the calendar year of a non-employee director’s initial service as a non-employee director. The plan administrator may make exceptions
to this limit for individual non-employee directors in extraordinary circumstances, as the plan administrator may determine in its discretion,
provided that the non-employee director receiving such additional compensation may not participate in the decision to award such compensation
or in other contemporaneous compensation decisions involving non-employee directors.

82

Item
12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The
following table sets forth beneficial ownership of the Company’s Common Stock as of March 28, 2025 by:

    ●
    each
    person known to be the beneficial owner of more than 5% of the outstanding Common Stock of the Company;

    ●
    each
    of the Company’s executive officers and directors; and

    ●
    all
    of the Company’s current executive officers and directors as a group.

Beneficial
ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial ownership of a security
if he, she or it possesses sole or shared voting or investment power over that security. Under those rules, beneficial ownership includes
securities that the individual or entity has the right to acquire, such as through the exercise of warrants or stock options or the vesting
of restricted stock units, within