Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 623

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 623
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1) a stock option with a Black-Scholes value of $100,000 (or in the case of the Chairperson of the Board or Lead Independent Director, $200,000) with an exercise price equal to the fair market value of Cara’s common stock on the date of grant and (2) RSU grant with a grant date fair value of $100,000 (or in the case of the Chairperson of the Board or Lead Independent Director, $200,000), with each such equity award vesting on the earlier of the first-year anniversary of the date of grant and Cara’s next annual meeting of stockholders, subject to the director’s continued service as a director through such vesting date. |

Following the consummation of the Merger, all equity compensation is expected to be granted in the form of options in lieu of options and RSUs. This policy is intended to provide a total compensation package that enables Cara to attract and retain qualified and experienced individuals to serve as directors and to align its directors’ interests with those of its stockholders. Securities Authorized for issuance under Equity Compensation Plans The following table summarizes Cara’s equity compensation plan information as of December 31, 2024.

| Plan                                                       |   | Number of securities 
    to be issued upon 
          exercise of 
 outstanding options, 
  warrants and rights 
                  (a) |   | ​                    
 Weighted-average     
 exercise price of    
 outstanding options, 
 warrants and rights  
 (b)(2)               |       |   | Number of securities 
  remaining available 
  for future issuance 
         under equity 
   compensation plans 
 (excluding shares of 
         common stock 
  reflected in column 
           (a))(c)(3) |      |
|:-----------------------------------------------------------|:--|---------------------:|:--|:---------------------|------:|:--|---------------------:|:-----|
| Equity compensation plans approved by security holders(1)  | ​ |              420,373 | ​ | $                    | 86.35 | ​ |              494,275 | ​    |
| Equity compensation plans not approved by security holders | ​ |                    — | ​ | ​                    |     — | ​ |               25,000 | (4)​ |
| Total                                                      | ​ |              420,373 | ​ | $                    | 86.35 | ​ |              519,275 | ​    |

| (1) | Includes Cara’s 2014 Plan. |