Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 647

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 647
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 | ​ |                                                         2,953 | ​ |      ​ | ​ | ​ | ​ | 3,796(5)                                                        | ​ | ​        | ​ | ​ | ​ |                 120.72 | ​ |      ​ | ​ | 3/1/2033   | ​ | ​                    | ​ | ​ | —                                                         | ​ | ​ | ​ | ​ | ​ |                                                              — | ​ | ​ |   |   |

(1) Awards in this column consist of time-based RSUs that were unvested as of December 31, 2024. (2) The market value is based on the closing price of Cara’s common stock as of December 31, 2024 of $6.12 per share. (3) 25% of the shares underlying the option vested on the first anniversary of the date of grant, with the remainder vesting in 12 equal quarterly installments thereafter, subject to the named executive officer’s continuous service through each such date. (4) These time-based RSUs will vest in 12 equal quarterly installments through October 29, 2025, subject to the named executive officer’s continuous service as of each vesting date. (5) Shares underlying these stock options vest monthly over a four-year period from the grant date, subject to the named executive officer’s continuous service through each such date. (6) These time-based RSUs vest in three equal annual installments on the first, second and third anniversary following date of the grant, subject to the named executive officer’s continuous employment with the Company. (7) Shares underlying these stock options vest over a four-year period as follows: 25% of the shares underlying the option vest on the first anniversary of the date of grant, with the remainder vesting in equal monthly installments over the 36 months thereafter, subject to the named executive officer’s continuous service through each such date. 401(k) Plan Cara maintains the Cara Therapeutics Savings and Retirement 401(k) Plan, or the 401(k) Plan, a tax-qualified retirement plan that provides eligible U.S. employees with an opportunity to save for retirement on

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a tax advantaged basis. All employees over the age of 21 are eligible to participate in the plan at the beginning of the month after three consecutive months of service. Employees are able to defer a portion of their pay into the plan on the first day of the quarter on or after the day all age