Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 616

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 616
---
 context of each named executive officer’s total compensation and take into account the market data provided by compensation consultants in addition to the individual officer’s responsibilities and performance. The Compensation Committee also takes into account the recommendations of the Chief Executive Officer with respect to appropriate grants (other than for the Chief Executive Officer) and any particular individual circumstances.

339

2024 Stock Option Awards In March 2024, the Compensation Committee approved the following performance-based stock option grants to Cara’s named executive officers as part of its annual executive compensation review process, at a per share exercise price equal to the fair market value of a share of Cara’s common stock on the grant date. Each of the performance-based stock options were to vest upon Cara meeting certain specified development and regulatory milestones related to Cara’s clinical program in NP and financial milestones. In June 2024, Cara discontinued its clinical program in NP and announced it was streamlining its operating plan exploring strategic alternatives focused on maximizing shareholder value. Because the performance milestones of these stock options were not achieved, the options were forfeited.

| Named Executive Officer |   |   Performance-based 
        Stock Option 
 Grant (# shares)(1) |   |
| Christopher Posner      | ​ |              35,833 | ​ |
| Ryan Maynard            | ​ |              12,917 | ​ |
| Scott Terrillion        | ​ |              12,917 | ​ |

| (1) | The number of shares subject to the options as set forth in the table above give effect to a one-for-12 reverse stock split of Cara’s common stock, which was effected in December 2024. |

Employment Agreements with Cara’s Named Executive Officers Christopher Posner Cara is party to an executive employment agreement with Mr. Posner that was entered into in October 2021. The agreement provides for an initial annual base salary and target bonus. Mr. Posner’s salary and target bonus for 2024 are discussed above. The employment agreement also provides for participation in Cara’s employee benefit plans and programs, and reimbursement for reasonable business expenses in accordance with Cara’s standard expense reimbursement policy. Ryan Maynard Under Ryan Maynard’s offer letter entered into in August 2022, Mr. Maynard serves as Cara’s Chief Financial Officer. Mr. Maynard’s salary and target bonus for 2024 are discussed above. Mr. Maynard is also eligible to participate in Cara’s employee benefit plans and programs, and to receive reimbursement for reasonable business expenses in accordance with Cara’s standard expense reimbursement policy. Scott Terr