Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 882

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 882
---
ger, as discussed in Notes 1 and 2, and by Unanimous Written Consent of the Board of Directors, the then
Chief Financial Officer of the Company was granted 745 RSUs
on December 1, 2023 at a weighted average grant date fair value of $551 per unit.
The RSUs were to vest in equal annual instalments on the first three anniversaries of the closing of the Merger. Upon the then Chief
Financial Officer’s resignation, effective May 15, 2024, all such RSUs were forfeited. On June 7, 2024, by Unanimous Written
Consent of the Board of Directors, the Interim Chief Financial Officer of the Company and a Board member were each
granted 372 shares
of immediately vested restricted stock at a weighted average grant date fair value of $284.
The shares of restricted stock were fully vested as of the grant date. No additional
RSU’s or shares of restricted common stock were granted during the year ended December 31, 2024. There were 745 shares
of restricted common stock vested as of December 31, 2024 and no RSUs
vested as of December 31, 2023.

The
following table summarizes restricted stock activity for the 2023 Plan:

Schedule
of Restricted Stock Activity

    Number of Awards  
    Weighted Average Grant Date Fair Value Per Unit 
  
    Outstanding at December 31, 2023 
     745  
    $551 
  
    Granted 
     745  
    $284 
  
    Cancelled/forfeited 
     (745) 
    $(551)
  
    Vested 
     (745) 
    $(284)
  
    Outstanding at December 31, 2024 
     -  
    $- 

Stock
Options

The
Company estimates the fair value of each option award on the date of grant using the Black-Scholes option-pricing model. The Company
then recognizes the grant date fair value of each option as compensation expense ratably using the straight-line attribution method over
the service period (generally the vesting period). The Black-Scholes model incorporates the following assumptions:

    ●
    Expected
    volatility – the Company estimates the volatility of the share price of their peer companies at the date of grant using a “look-back”
    period which coincides with the expected