Company: CDT
Filing Date: 2025-07-08
Form Type: DEF 14A
Source: 0001641172-25-018242
Chunk: 26

Company: CDT Equity Inc.
Filing Date: 2025-07-08
Form: DEF 14A
Chunk 26
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 with an opportunity for stock ownership to align their interests with those of our stockholders.

In November 2024, the Board, with the help of Aon Plc, its independent compensation consultant, conducted a review of the long-term incentive opportunities for our named executive officers. Based on a review of each executive’s individual performance, Mr. Bligh’s additional duties as interim Chief Financial Officer, and the applicable market data, the Board approved the following stock option grants: (i) Dr. Tapolczay received a stock option to purchase 560 shares, and (ii) Mr. Bligh received a stock option to purchase 1,260 shares. Each stock option vests 50% of the grant date and 50% in three equal annual installments thereafter. Also, Mr. Bligh received a one-time grant of 372 full vested shares in June 2024, in recognition of his increased responsibilities as interim Chief Executive Officer.

Employment Agreements

We entered into an employment agreement with our then Chief Executive Officer, Dr. David Tapolczay, and our then Chief Financial Officer, Mr. Adam Sragovicz, on September 22, 2023, which was the closing date of the Business Combination. Mr. James Bligh is currently serving as the Company’s Interim Chief Financial Officer. The prior and current agreements are summarized below.

Dr. Tapolczay

On September 22, 2023, we entered into an employment agreement (the “Tapolczay Employment Agreement”) with Dr. Tapolczay, pursuant to which he serves as our Chief Executive Officer of and a member of our Board.

Under the Tapolczay Employment Agreement, Dr. Tapolczay is entitled to (i) an annual base salary of $550,000 increased to $566,500 effective November 1, 2024, and (ii) a target annual bonus opportunity equal to 50% of his base salary, payable based on the achievement of performance objectives as determined by our Board. In addition, the Tapolczay Employment Agreement provides that Dr. Tapolczay is entitled to receive a sign-on stock option award to purchase 0.40% of the shares of our Common Stock pursuant to the terms of the 2023 Stock Incentive Plan, which shall vest in equal annual installments on the first four anniversaries of the Business Combination. The Tapolczay Employment Agreement provides that if we terminate Dr. Tapolczay’s employment other