Regan Andrew 4
4 · CDT Equity Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
CDT Equity (CDT) CEO Andrew Regan Receives Award & Buys Stock
What Happened
Andrew Regan, CEO of CDT Equity Inc. (CDT), is listed on a Form 4 showing two main actions: a May 13, 2026 open‑market purchase of 100,000 shares at $1.90 each (total cash $190,000), and a March 24, 2026 conversion/cashless exercise of 147,401 pre‑funded warrants resulting in 147,401 shares. The filing also reports a 147,401 share grant/award entry dated March 24 tied to that conversion. Share and price figures are adjusted for a 1‑for‑25 reverse split effected March 26, 2026.
Key Details
- Transactions:
- Mar 24, 2026: Conversion of pre‑funded warrants → 147,401 shares (cashless exercise; reported as derivative conversion).
- Mar 24, 2026: Corresponding grant/award entry for 147,401 shares (price N/A).
- May 13, 2026: Open‑market purchase of 100,000 shares at $1.90 ($190,000 total).
- Filing: Form 4 filed May 14, 2026. The May 13 purchase was reported promptly (filed next day); the Mar 24 conversion/grant entries appear in this May 14 filing (over six weeks later), which suggests the March 24 transactions were reported later than the usual 2‑business‑day Form 4 window.
- Ownership/record holders: The March 24 shares are owned of record by Corvus Capital Limited; the 100,000 shares purchased May 13 are owned of record by Manoira Corporation. Corvus owns 99% of Manoira; Dr. Regan is sole director of Manoira and CEO & sole shareholder of Corvus — he may be deemed to beneficially own these shares, though Corvus and Dr. Regan disclaim such beneficial ownership except to the extent of pecuniary interest.
- Other notes: Pre‑funded warrants were exercised in full; numbers/prices shown reflect the March 26, 2026 reverse 1‑for‑25 split.
Context
- The March 24 conversion was a cashless exercise of pre‑funded warrants (no cash paid; shares issued upon exercise). Cash purchases like the May 13 trade are generally the clearest bullish signal from insiders because they involve cash outlay; this filing shows a $190,000 open‑market buy by entities controlled by Regan.
- Beneficial ownership is reported at the record‑owner level (Corvus/Manoira); due to the ownership structure, Regan may be deemed to beneficially own the reported shares, though formal disclaimers are included.
Insider Transaction Report
Form 4
Regan Andrew
DirectorChief Executive Officer
Transactions
- Award
Common Stock
[F1][F2][F3][F6]2026-03-24+147,401→ 156,393 total(indirect: By Corvus Capital Ltd.) - Award
Common Stock
[F4][F3][F6]2026-05-13$1.90/sh+100,000$190,000→ 256,393 total(indirect: By Corvus Capital Ltd.) - Conversion
Pre-Funded Warrants
[F1][F2][F7][F3][F6]2026-03-24$0.00/sh−147,401$15→ 0 total(indirect: By Corvus Capital Ltd.)Exercise: $0.00From: 2025-12-08→ Common Stock (147,401 underlying)
Holdings
- 5,600
Common Stock
- 773(indirect: By IRA)
Common Stock
[F5][F6]
Footnotes (7)
- [F1]On March 26, 2026, CDT Equity Inc. (the "Company") effected a 1-for-25 reverse stock split (the "Reverse Stock Split") of the Company's outstanding shares of common stock, par value $0.0001 per share (the "Common Stock"). The number of shares of Common Stock and prices reported on this Form 4 have been adjusted to reflect the Reverse Stock Split. Corvus ceased to be a 10% holder as of February 19, 2026.
- [F2]On March 24, 2026, Corvus Capital Limited ("Corvus") exercised all its pre-funded warrants (the "Pre-Funded Warrants") via cashless exercise for 147,401 shares of Common Stock.
- [F3]These shares of Common Stock are owned of record by Corvus.
- [F4]On May 13, 2026, Corvus purchased a total of 100,000 shares of Common Stock in the open market at a price per share of $1.90 for total cash consideration of $190,000.
- [F5]These shares of Common Stock are owned of record by Manoira Corporation ("Manoira").
- [F6]Corvus is the owner of 99.0% of the equity interests of Manoira and, therefore, may also be deemed to beneficially own the shares of Common Stock held of record by Manoira. Dr. Regan is the sole director of Manoira and the Chief Executive Officer and sole shareholder of Corvus. By virtue of these relationships, Dr. Regan may be deemed to beneficially own the shares of Common Stock held of record by Manoira and Corvus. Each of Corvus and Dr. Regan disclaims any such beneficial ownership, except to the extent of its or his pecuniary interest therein.
- [F7]The Pre-Funded Warrants have been exercised in full.
Signature
/s/ Andrew Regan|2026-05-14