Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 308

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 308
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 on the first anniversary of such effective date (the Change in Control Period), then each such individual will be eligible to receive the following enhanced severance benefits:

| (b) | a cash amount equal to the Covered Employee’s target annual bonus for the year of the Covered Termination paid in installments; and |

| (c) | each of the Covered Employee’s then-outstanding equity awards subject to time-based vesting will accelerate and vest as to all unvested shares subject to the equity award. The Covered Employee must timely execute, deliver to us and allow to become effective a general release of claims, to be eligible for any of the severance benefits described above. The Severance Plan contains certain covenants regarding confidential information and non-disparagement. |

The base salary and target annual bonus severance amount for Mr. Terrillion would presently aggregate to $834,000. His equity award holdings are described below. Golden Parachute Compensation The following table and related footnotes present information about the compensation payable to Cara’s named executive officers in connection with the Merger. The compensation shown in the table below is intended to comply with Item 402(t) of Regulation S-K, which requires disclosure of information about compensation for each named executive officer that is based on or otherwise relates to the Merger. This compensation is referred to as “golden parachute” compensation by the applicable SEC disclosure rules. The Cara named executive officers will not receive pension, tax reimbursement or other benefits in connection with the Merger. The values in the table below are based on the following assumptions:

| ● | the relevant price per share of Cara common stock is approximately $5.29, which, in accordance with SEC requirements, is equal to the average closing price of a share of Cara common stock over the first five business days following the first public announcement of the Merger on December 18, 2024, after giving effect to the December Reverse Stock Split; |

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The following table and footnotes describe payments and benefits that will be paid solely based on the closing of the Merger (single-trigger payments), and payments and benefits that will be paid based on the closing of the Merger and a qualifying termination of employment following the Merger (double-trigger payments) (in thousands):

| ​                | ​ |     ​ | ​ |      ​ | ​ |            ​ | ​ |     ​ |
| ​                |   |       |   |        |   | Perquisites/ |   |       |
| ​                |   |  Cash