Form 4: CDT Equity Grants CEO Andrew Regan 1.12M Shares

CDT Equity Inc. granted its Chief Executive Officer and Director, Andrew Regan, 1,120,000 shares of common stock as compensation for his services.

Summary

• Andrew Regan, Chief Executive Officer and Director of CDT Equity Inc. (formerly Conduit Pharmaceuticals Inc.), was granted 1,120,000 shares of common stock.
• The grant occurred on September 19, 2025, as compensation for his services as a director and an officer of the Issuer.
• The shares were issued pursuant to the Issuer's Amended and Restated 2023 Stock Incentive Plan.
• The value of the granted shares was based on the closing price of $0.6863 per share of Common Stock on September 18, 2025.
• Following this transaction, Andrew Regan directly beneficially owns 1,120,044 shares of Common Stock.
• He also indirectly beneficially owns 154,799 shares through Manoira Corporation, 20,032 shares through Corvus Capital Ltd., and 118 shares through Algo Holdings, Inc.
• Andrew Regan disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest therein.

Sentiment

Score: 7

Explanation: The grant of shares to the CEO and Director aligns management's interests with shareholders, reflecting standard executive compensation practices under an existing incentive plan.

Positives

• The grant of 1,120,000 shares to CEO and Director Andrew Regan aligns management's interests with shareholders.
• The compensation is part of the company's Amended and Restated 2023 Stock Incentive Plan, indicating a structured approach to executive incentives.

Future Outlook

NA

Management Comments

• The grant of 1,120,000 shares of common stock to Dr. Andrew Regan was compensation for his services as a director and an officer of CDT Equity Inc.
• Dr. Regan disclaims beneficial ownership of indirectly held shares except to the extent of his pecuniary interest therein.

Industry Context

NA

Related Party Transactions

• Andrew Regan is the sole director of Manoira Corporation and the Chief Executive Officer and sole shareholder of Corvus Capital Ltd.
• Corvus Capital Ltd. owns 99.0% of the equity interests of Manoira Corporation.
• Algo Holdings, Inc. is a wholly owned subsidiary of Corvus Capital Ltd.
• By virtue of these relationships, Dr. Regan may be deemed to beneficially own shares held of record by Manoira, Algo, and Corvus, though he disclaims such beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: Increased alignment of the CEO's interests with shareholder value through equity compensation.
• Management/Employees: Reinforces the company's incentive structure for key personnel.

Key Dates

Recommendation

The filing reports a routine grant of shares to the CEO as compensation, which is a positive for management-shareholder alignment. However, it does not contain information significant enough to alter the fundamental investment thesis or warrant a change in existing positions based solely on this report.

Keywords

CDT Equity Inc., CDT, Andrew Regan, stock grant, executive compensation, Form 4, beneficial ownership, insider transaction, stock incentive plan