Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 538

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 538
---
 the chair of the Audit Committee and $7,500 for each of the other members of that committee;

    ●
    $10,000
    for the chair of the Compensation Committee and $5,000 for each of the other members of that committee; and

    ●
    $8,000
    for the chair of the Nominating and Corporate Governance Committee and $4,000 for each of the other members of that committee.

In addition, each non-employee director who is
initially elected or appointed to the board of directors will automatically be granted on the day of such first election or appointment
a stock option to purchase 4,200 shares of our Common Stock (the “Initial Award”). Each Initial Award will vest and become
exercisable in substantially equal installments on each of the first three anniversaries of the date of grant, subject to the non-employee
director continuing in service on the board of directors through each such vesting date.

A non-employee director who is serving on the
board of directors as of the date of any annual meeting after the effective date of the new program, and who will continue to serve as
a non-employee director immediately following such meeting, will automatically be granted on the date of such annual meeting a stock option
to purchase 4,200 shares of our Common Stock, which amount is pro-rated for new directors to reflect their service since the last annual
meeting (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