Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 739

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 739
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 7.92and$ 93.72, respectively.

As of September 30, 2024, the Company’s restricted stock units consist of time-based restricted stock units. All remaining performance-based restricted stock units either vested or were forfeited in the first quarter of 2024. For time-based restricted stock units, the Company recognizes compensation expense associated with these restricted stock units ratably over the award’s vesting period following the grant date. For performance-based restricted stock units, vesting was contingent on the achievement of certain performance targets, subject to the recipient’s continuous service through each performance target. Recognition of compensation expense associated with these performance-based awards began when, and to the extent, the performance criteria were probable of achievement and the employee had met the service conditions.

During the three and nine months ended September 30, 2024 and 2023, the Company recognized compensation expense relating to restricted stock units as follows:

| ​                                   | ​ |                  ​ |   ​ | ​ |    ​ |   ​ | ​ |                 ​ |     ​ | ​ |    ​ |     ​ |
| ​                                   | ​ | Three Months Ended |     |   |      |     | ​ | Nine Months Ended |       |   |      |       |
| ​                                   | ​ |      September 30, |     |   |      |     | ​ |     September 30, |       |   |      |       |
| ​                                   |   |               2024 |     |   | 2023 |     |   |              2024 |       |   | 2023 |       |
| Research and development            |   |                  $ |   — | ​ |    $ |  90 | ​ |                 $ |   249 | ​ |    $ |   385 |
| General and administrative          | ​ |                  ​ | 353 | ​ |    ​ | 410 | ​ |                 ​ | 2,036 | ​ |    ​ | 1,308 |
| Total restricted stock unit expense |   |                  $ | 353 | ​ |    $ | 500 | ​ |                 $ | 2,285 | ​ |    $ | 1,693 |

F- 25

CARA THERAPEUTICS, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS (amounts in thousands, except share and per share data) (unaudited)

A summary of restricted stock unit activity related to employees and