Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 807

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 807
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 (the “Annual Award”). Each Annual Award will vest and become exercisable on the earlier of (i) the first anniversary
of the date of grant, or (ii) the date immediately prior to the next annual meeting of the Company’s stockholders following the
date of grant, subject to the non-employee director continuing in service on the board of directors through such vesting date.

Upon a change in control, all outstanding equity
awards that are held by a non-employee director shall become fully vested and exercisable.

In 2024, the board of directors appointed Dr. Hall and Ms. Charles
to serve on the Special Committee and approved an additional cash retainer of $7,500 for each of them to reflect her service on the Special
Committee. In June 2024, the board of directors authorized the grant of a one-time additional equity retainer to Ms. Chiavacci Farley
in the form of 372 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, 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