[Form 4] CDT Equity Inc. Insider Trading Activity

Rhea-AI Filing Summary

Freda C. Lewis-Hall, a director of CDT Equity Inc. (CDT), reported equity awards and holdings. On 08/12/2025 she received 35,000 restricted stock units (RSUs) in exchange for past services; the RSUs vested immediately and were valued at approximately $60,900 based on the 08/12/2025 closing price. The earliest transaction date reported is 08/05/2025, when she was granted 15,000 stock options under the 2023 Stock Incentive Plan at an exercise price of $1.89; those options vested immediately, are exercisable as of 08/05/2025 and expire 08/05/2035. Following the RSU grant, Ms. Lewis-Hall directly beneficially owned 38,466 shares; she also discloses indirect holdings of 1,335 shares held by Intelmed LLC and 344 shares held by her spouse, which she disclaims except to the extent of any pecuniary interest. The Form 4 is signed by Ms. Lewis-Hall on 08/26/2025.

Positive

• 35,000 RSUs vested immediately, providing clear, disclosed compensation for past services
• 15,000 stock options vested immediately at a stated exercise price of $1.89 with a 2035 expiration, aligning incentives
• Complete disclosure of indirect holdings (Intelmed LLC and spouse) with explicit disclaimers

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine equity compensation disclosed; modest share increase and immediate vesting of options and RSUs.

The filing documents non-cash compensation and immediate vesting: 35,000 RSUs issued on 08/12/2025 with an indicated value of about $60,900 and 15,000 options granted 08/05/2025 at a $1.89 exercise price that vest immediately and expire in 2035. The increase in directly held shares to 38,466 is primarily the result of the RSU grant. These are typical director/executive equity awards rather than market-moving transactions, and the disclosure is consistent with standard Form 4 reporting practices.

Corporate Governance Expert

TL;DR: Disclosure reflects standard governance practice for director compensation and related-party holdings.

The report identifies Ms. Lewis-Hall as a director and discloses both direct and indirect holdings, including shares held by Intelmed LLC and by her spouse, with appropriate disclaimers. Immediate vesting of RSUs and options is clearly stated and the filing includes required provenance of awards. From a governance and disclosure standpoint, the Form 4 provides necessary transparency on beneficial ownership and potential related-party interests.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lewis-Hall Freda C

(Last) (First) (Middle)

4581 TAMIAMI TRAIL NORTH,

SUITE 200

(Street)

NAPLES FL 34103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CDT Equity Inc. [ CDT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/12/2025		A		35,000(1)	A	$0	38,466	D
Common Stock								1,335	I	See Footnote(2)
Common Stock								344	I	See Footnote(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)(4)	$1.89	08/05/2025		A		15,000		(5)	08/05/2035	Common Stock	15,000	$0	15,000	D

Explanation of Responses:

1. Represents restricted stock units ("RSUs") received on August 12, 2025, in exchange for past services, having a value equal to approximately $60,900 based on the closing price per share of the Issuer's common stock on August 12, 2025. The RSUs vest immediately upon grant.

2. The shares are held of record by Intelmed LLC ("Intelmed"). Ms. Lewis-Hall is the Managing Director of Intelmed and in such capacity has voting and investment discretion with respect to the shares held of record by Intelmed. By virtue of this relationship, Ms. Lewis-Hall may be deemed to share beneficial ownership of the shares held of record by Intelmed. Ms. Lewis-Hall disclaims any such beneficial ownership except to the extent of her pecuniary interest therein.

3. The shares are held by Ms. Lewis-Hall's spouse, Mr. Emerson Hall, Jr. As Mr. Hall's spouse and by virtue of their relationship, Ms. Lewis-Hall may be deemed to share beneficial ownership of such shares held by record by Mr. Emerson Hall, Jr. Ms. Lewis-Hall disclaims any such beneficial ownership except to the extent of her pecuniary interest therein.

4. Represents options to purchase common stock, granted under the Issuer's 2023 Stock Incentive Plan, which were granted at the conclusion of the Issuer's 2025 annual meeting of stockholders.

5. The options vest immediately upon grant.

	/s/ Freda Lewis-Hall	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What equity awards did Freda C. Lewis-Hall receive in the Form 4 for CDT (CDT)?

She received 35,000 restricted stock units (RSUs) on 08/12/2025 (vested immediately) and was granted 15,000 stock options on 08/05/2025 at an exercise price of $1.89.

What is the stated value of the RSUs reported by Ms. Lewis-Hall?

The 35,000 RSUs were stated to have a value of approximately $60,900 based on the closing price on 08/12/2025.

How many shares does Ms. Lewis-Hall beneficially own after the reported transactions?

Following the reported RSU grant, she directly beneficially owned 38,466 shares; she also discloses indirect holdings of 1,335 shares (Intelmed LLC) and 344 shares (spouse).

When do the granted options become exercisable and when do they expire?

The 15,000 options were exercisable immediately from 08/05/2025 and expire on 08/05/2035.

What relationship does Ms. Lewis-Hall have to Intelmed LLC in the disclosure?

She is disclosed as the Managing Director of Intelmed LLC and states she has voting and investment discretion over shares held of record by Intelmed, with a disclaimer of beneficial ownership except to the extent of any pecuniary interest.