Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 675

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 675
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 date fair value of the 372 fully vested shares issued to Mr. Bligh in June 2024 to reflect his increased responsibilities
    as interim Chief Executive Officer, based on a stock price of $284 on the date of grant.

    (3)
    Reflects
    the grant date fair value of stock option awards for the applicable year computed in accordance with FASB ASC Topic 718. See Note
    11 to the consolidated financial statements included in this Annual Report for a discussion of the relevant assumptions used in calculating
    the grant date fair value pursuant to FASB ASC Topic 718. As required by SEC rules, the amounts shown exclude the impact of estimated
    forfeitures related to service-based vesting conditions. Our named executive officers will only realize compensation to the extent
    the trading price of our common stock is greater than the exercise price of such stock options.

    (4)
    The amounts shown for 2024 represent 401(k) matching contributions
of $16,732 and $3,300 for Mr. Bligh and Mr. Sragovicz, respectively.

    (5)
    For
    Mr. Sragovicz, includes severance benefits of continued payment of his base salary, and subsidized health insurance premiums, for
    a period of four months after the effective date of his resignation.

Compensation
Adjustments for 2024

Annual
Base Salaries

We
provide a base salary to retain and attract key executive talent and to align our compensation with market practices. Base salaries are
reviewed and established by the Compensation Committee and the board of directors on a competitive basis each year to align with market
levels.

In
2024, the board of directors (i) increased Dr. Tapolczay’s base salary by 3%, and (ii) increased Mr. Bligh’s base salary
by £60,000 to compensate for his additional duties as Chief Financial Officer.

Equity
Awards

The
Compensation Committee believes that a competitive long-term incentive program is an important component of the compensation of our named
executive officers because it: (i) enhances the retentive value of our compensation; (ii) rewards executives for increasing our stock
price and developing long-term value; and (iii) provides executives with an opportunity for stock ownership to align their interests
with those of our stockholders.

In
November 2024, the board of directors, with the help of Aon, its independent compensation consultant