Company: CDT
Filing Date: 2025-07-08
Form Type: DEF 14A
Source: 0001641172-25-018242
Chunk: 66

Company: CDT Equity Inc.
Filing Date: 2025-07-08
Form: DEF 14A
Chunk 66
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2023 Plan and awards granted under the Amended 2023 Plan are intended to be structured and interpreted in a manner intended to either comply with or be exempt from Section 409A of the Code and the Department of Treasury regulations and other interpretive guidance that may be issued under Section 409A of the Code. To the extent determined necessary or appropriate by the plan administrator, the Amended 2023 Plan and applicable award agreements may be amended to further comply with Section 409A of the Code or to exempt the applicable awards from Section 409A of the Code.

New Plan Benefits

The number of awards that the named executive officers, directors, other executive officers, and other employees may receive under the Amended 2023 Plan will be determined in the discretion of the Board or Compensation Committee, as applicable, in the future.

However, if stockholders approve the Amended 2023 Plan at the 2025 Annual Meeting, of the 2,000,000 additional shares available for grant, the Compensation Committee intends to grant at some point, in its discretion, a total of 1,600,000 shares to our executive officers, and stock options to our non-employee directors covering 45,000 shares, provided that at the time of any such grants , the total shares awarded, when added to all other stock awards and options granted after the Annual Meeting, will not represent more than 25% of our then total outstanding shares as of the date of such grant.

The table below shows the allocation of these intended awards, without regard to the 25% limitation, as though all of the shares could be issued today, among the named executive officers listed below, all current executive officers as a group, all current non-employee directors as a group, and all other employees, respectively. If stockholders do not approve this Proposal No. 3, then these equity awards would not be able to be granted.

| Name and Position                    |     | Dollar Value ($) (3) |           |     | Number of Units(4) |           |
|:-------------------------------------|:----|:---------------------|----------:|:----|:-------------------|----------:|
| Andrew Regan(1)                      
 Chief Executive Officer and Director |     | $                    | 3,270,400 |     |                    | 1,120,000 |
| James Bligh (1)                      
 Interim Chief Financial Officer      |     | $                    | 1,401,600 |     |                    |