Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 255

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 255
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, beginning on January 1, 2026 and continuing through and including January 1, 2035, by an amount equal to the lesser of (i) 1% of the total number of shares of the Fully Diluted Common Stock (as defined in the 2025 ESPP) determined on December 31 of the preceding year, and (ii) a number of shares equal to three times the Initial Share Reserve. Notwithstanding the foregoing, our board of directors may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares.

Shares issuable under the 2025 ESPP may be shares of authorized but unissued or reacquired our common stock, including shares purchased by the Company on the open market. Shares subject to purchase rights granted under the 2025 ESPP that terminate without having been exercised in full will not reduce the number of shares available for issuance under the 2025 ESPP.

Administration. The Company’s board of directors, or a duly authorized committee thereof, will administer the 2025 ESPP.

Eligibility. The Company’s employees and the employees of any of its designated affiliates, will be eligible to participate in the 2025 ESPP, provided they may have to satisfy one or more of the following service requirements before participating in the 2025 ESPP, as determined by the administrator: (1) customary employment with the Company or one of its affiliates for more than 20 hours per week and more than five months per calendar year or (2) continuous employment with the Company or one of its affiliates for a minimum period of time, not to exceed two years, prior to the first date of an offering. In addition, the Company’s board of directors may also exclude from participation in the 2025 ESPP or any offering, employees who are “highly compensated employees” (within the meaning of Section 423(b)(4)(D) of the Code) or a subset of such highly compensated employees. An employee may not be granted rights to purchase stock under the 423 Component of the 2025 ESPP (a) if such employee immediately after the grant would own stock (including stock issuable upon exercise of all such employee’s purchase rights) possessing 5% or more of the total combined voting power or value of all classes of our common stock or (b) to the extent that such rights would accrue at a rate that exceeds $25,000 worth of our common stock for