Company: CDT
Filing Date: 2025-04-16
Form Type: 8-K
Source: 0001641172-25-005036
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Company: CDT Equity Inc.
Filing Date: 2025-04-16
Form: 8-K
Item: Item 5.02
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Item
5.02 Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation
of David Tapolczay

On
April 12, 2025 (the “ Effective Date”), David Tapolczay notified the Board of Directors (the “ Board”) of
Conduit Pharmaceuticals Inc. (the “ Company”) of his resignation from both the Board and his position as Chief Executive
Officer effective immediately. Dr. Tapolczay’s decision to resign was not the result of any disagreement with the Company on any
matter relating to the Company’s operations, policies, or practices. In connection with Dr. Tapolczay’s resignation, Dr.
Tapolczay’s existing employment contract as Chief Executive Officer was terminated and Conduit UK Management LTD, a wholly owned
subsidiary of the Company, entered into an Employment Agreement (the “ Employment Agreement”) with Dr. Tapolczay pursuant
to which Dr. Tapolczay will provide strategic advisory services as Head of Licensing & Strategy, reporting to the Chief Executive
Officer. In exchange for Dr. Tapolczay’s services, he will receive a sign-on bonus of £100,000 annual base salary of £240,000.
Consistent with the terms of the Company’s 2023 Stock Incentive Plan and subject to Dr. Tapolczay’s continued service pursuant
to his Employment Agreement, his outstanding equity awards he has previously received will remain outstanding and continue to vest based
on the vesting dates thereof. Dr. Tapolczay will provide the Company with a release of claims and will be subject to certain non-competition,
non-solicitation, non-disparagement, and confidentiality covenants.

Appointment
of Andrew Regan

On
April 15, 2025, the Company appointed Andrew Regan as Chief Executive Officer, effective immediately (the “ Appointment”).
As a result of the Appointment, Dr. Regan will serve as Chief Executive Officer of the Company and will continue to serve as a director
on the Board. Dr. Regan has not entered into any compensation plans and will continue to waive all compensation fees in connection with
his service as Chief Executive Officer, and will be entitled to reimbursement of expenses incurred in connection with his role as Chief
Executive Officer, although the Board may assess this determination from time to time.

Dr.
Regan, age 59, is a British born polar