Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 85

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 85
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 in the disposition of a substantial amount of shares in
the Company pursuant to those agreements without the Company’s knowledge. In addition, the Company also became aware that
approximately 300,000 thousand shares (or 31% of our then outstanding common stock as of August 14, 2024) were subject to a
further third-party pledge arrangement with a then significant stockholder of the Company. Upon learning of these transactions, the
board of directors has appointed an independent committee of the board of directors (the “Special Committee”) and
delegated to the Special Committee the authority to review these matters and determine action(s), if any, to be taken by the Company
in response thereto. Additionally, the Company formed another committee of the board of directors (the “Trading Review
Committee”) and delegated to the Trading Review Committee the authority to investigate and review the trading patterns of
certain of the Company’s stockholders and determine action(s), if any, to be taken by the Company in response thereto. The
Company values its stockholders and wants to have all available data at its disposal to act in its fiduciary capacity.

Section
16(a) Beneficial Ownership Reporting Compliance

Section
16(a) of the Exchange Act requires that our directors and executive officers, and persons who own more than ten percent of a registered
class of our equity securities, to file with the SEC initial reports of ownership and reports of changes in ownership of common stock
and other equity securities of the Company. Officers, directors and greater than ten percent stockholders are required by SEC regulation
to furnish us with copies of all Section 16(a) forms they file.

To
our knowledge, based solely on a review of the copies of such reports furnished to us and written representations that no other
reports were required, during the year ended December 31, 2024, all Section 16(a) filing requirements applicable to our officers,
directors and greater than ten percent beneficial owners were complied with, except for the Form 4 filed Andrew Regan on September
19, 2024 reporting a pledging of shares on June 14, 2024 and the sale of shares from July 2, 2024 to July 17, 2024. The delinquent
filing was inadvertent.

78

Item
11. Executive Compensation

Fiscal
2024 Summary Compensation Table

The
following table summarizes the compensation earned by or paid to our principal executive officer and our principal financial