Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 401

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 401
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 if approved by Cara stockholders.

The Merger cannot be consummated without the approval of the Stock Issuance Proposal, Reverse Stock Split Proposal and the Authorized Share Proposal at the Cara special meeting.

THE CARA BOARD UNANIMOUSLY RECOMMENDS THAT THE CARA STOCKHOLDERS VOTE “FOR” THE APPROVAL OF THE ESPP PROPOSAL.

When you consider the recommendation of the Cara Board in favor of approval of the ESPP, you should keep in mind that certain of Cara’s directors and officers have interests in the ESPP that are

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different from, in addition to, or in conflict with, your interests as a stockholder, including, among other things, the existence of financial and personal interests, which may result in a conflict of interest on the part of such director(s) between what he, she or they may believe is in the best interests of Cara and its stockholders and what he, she or they may believe is best for himself or themselves in determining to recommend that stockholders vote for the proposals. In addition, Cara’s officers have interests in the Merger that may conflict with your interests as a stockholder. See the section titled “ The Merger — Interests of Cara Directors and Executive Officers in the Merger ” for a further discussion of these considerations. Equity Compensation Plan Information The following table provides information as of December 31, 2024 with respect to the shares of Cara common stock that may be issued under Cara’s existing equity compensation plans.

| Plan Category                                              | ​ | ​ | Number of securities tobe issued upon exerciseof outstanding options,warrants and rights |   |         |   | ​ | ​ | Weighted averageexercise price ofoutstanding options,warrants and rights(2) |   |       |   | ​ | ​ | Number of securitiesremaining available forfuture issuance underequity compensationplans (excludingsecurities infirst column)(3) |   |           |   | ​ |
|:-----------------------------------------------------------|:--|:--|:-----------------------------------------------------------------------------------------|:--|--------:|:--|:--|:--|:----------------------------------------------------------------------------|:--|------:|:--|:--|:--|:---------------------------------------------------------------------------------------------------------------------------------|:--|----------:|:--|:--|
| Equity compensation plans approved by security holders﻿(1) | ​ | ​ | ​                                                                                        | ​ | 420,373 | ​ | ​ | ​