Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 38

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 38
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2025 and January 10, 2024, the Company increased the number of shares of Common Stock available for issuance under the 2023 Plan by 69,240and 36,914shares, respectively. The number of authorized shares will automatically increase on January 1, 2026 and continuing annually on each anniversary thereof through (and including) January 1, 2033, equal to the lesser of (i) 5% of the shares of common stock outstanding on the last day of the immediately preceding 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 March 31, 2025, there were 154,544shares of Common Stock available for issuance under the 2023 Plan.

On March 30, 2025, certain non-employee directors elected to receive their unpaid cash retainers due as of March 31, 2025, and cash retainers owed for the period from April 1, 2025 to June 30, 2025, under the Director Compensation Program, in the form of fully vested shares of Common Stock. In total, $ 0.1million of unpaid retainers was settled through the issuance 155,257 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. The fair value of the shares issued for cash
retainers due as of March 31, 2025, $78,000, was recorded within general & administration expense in the condensed consolidated
statement of operations and comprehensive loss. The fair value of the shares issued for cash retainers owed for the period from
April 1, 2025 to June 30, 2025, $58,000, was recorded as a prepaid expense in the condensed consolidated balance sheets.

Restricted Stock

NoRSU’s or shares of restricted common stock were granted during the three months ended March 31, 2025 and March 31, 2024. There were 745shares of restricted common stock vested as of March 31,