Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 237

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 237
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, the Company’s compensation committee determines its executive officers’ compensation in accordance with the terms of its written charter, and will review and discuss management’s proposed compensation with its chief executive officer for all executives other than its chief executive officer. Annual Base Salary Base salaries for Legacy Tvardi’s named executive officers were initially established through arm’s-length negotiations at the time of the executive officer’s hiring, taking into account such executive officer’s qualifications, experience, the scope of such executive officer’s responsibilities and competitive market compensation paid by other companies for similar positions within the industry and geography. Base salaries were reviewed periodically, typically in connection with the board of directors’ annual review process, and adjusted from time to time to realign salaries with market levels after taking into account individual responsibilities, performance, experience and adjustments to reflect cost of living increases. The 2024 annual base salaries for Legacy Tvardi’s named executive officers are set forth in the table below:

| ​                      | ​ |       Base |
| Name                   |   | Salary ($) |
| Imran Alibhai, Ph.D.   | ​ |    551,050 |
| John Kauh, M.D.        |   |    412,000 |
| Dan Conn, J.D., M.B.A. |   |    381,100 |

Following the Merger, the Company’s compensation committee intends to follow a similar philosophy with respect to the evaluation of base salaries. Annual Performance Bonus Opportunity For 2024, Legacy Tvardi’s named executive officers were eligible to receive discretionary annual performance bonuses based on individual performance, company performance or as otherwise determined appropriate, as determined by its board of directors. For 2024, each of Drs. Alibhai and Kauh and Mr. Conn were eligible to receive a target bonus equal to 50%, 30% and 30% of his base salary, respectively. In January 2025, Legacy Tvardi’s board of directors approved and paid annual performance bonuses for Drs. Alibhai and Kauh in the amounts of $275,525 and $123,600, respectively. In recognition of Mr. Conn’s additional efforts in 2024 in connection with the Merger and the Convertible Note financing completed or entered into in 2024, Legacy Tvardi’s board of directors approved and paid an annual performance bonus for Mr. Conn of $171,495. All such bonuses are reflected in the “Bonus” column of the applicable Summary Compensation Table above. Following the Mer