Company: CDT
Filing Date: 2025-07-08
Form Type: DEF 14A
Source: 0001641172-25-018242
Chunk: 53

Company: CDT Equity Inc.
Filing Date: 2025-07-08
Form: DEF 14A
Chunk 53
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 on market opportunities and properly
aligns the Board, Executive Management, and employees with the investment interests of our stockholders.

On September 22, 2023, stockholders approved 7,665 shares of common stock to be used for awards under the 2023 Plan (as adjusted for the 1-for-100 and 1-for-15 reverse stock splits). The share reserve was automatically increased by 2,460 shares on December 31, 2023, and 4,616 shares on December 31, 2024, pursuant to the evergreen feature of the 2023 Plan, for a total of 14,741 shares. As of July 3, 2025, 2,833 shares of common stock remained available for issuance under the 2023 Plan.

If the Amended 2023 Plan is not approved, we may be compelled to increase significantly the cash component of our employee and director compensation, which approach may not necessarily align employee and director compensation interests with the investment interests of our stockholders. Replacing equity awards with cash also would increase cash compensation expense and use cash that could be better utilized.

The following includes aggregated information regarding our view of the overhang and dilution associated with the 2023 Plan, and the potential dilution associated with the Amended 2023 Plan. This information is as of July 3, 2025. As of that date, there were approximately 2,405,140 shares of common stock outstanding.

Common Stock Subject to Outstanding Awards and Available for Future Awards:

| ● | Total                                                                                              
 shares of common stock subject to outstanding awards (stock options and restricted stock           
 units): 11,908 shares (approximately 0.50% of our outstanding common stock);                       |
| ● | Total                                                                                              
 shares of common stock available for future awards under the 2023 Plan: 2,833 shares.              |
| ● | 2,000,000                                                                                          
 additional shares of common stock for approval under the Amended 2023 Plan, subject to adjustment, 
 including under the share counting rules of the Amended 2023 Plan.                                 |

The total shares of common stock subject to outstanding awards as described above as of July 3, 2025, (11,908 shares), plus the shares of common stock available for future awards under the 2023 Plan (2,833 shares), plus the proposed additional shares of common stock under the Amended 2023 Plan (2,000,000 shares