Company: TVRD
Filing Date: 2025-10-07
Form Type: S-1/A
Source: 0001104659-25-097519
Chunk: 241

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-07
Form: S-1/A
Chunk 241
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 closing price of Cara’s common stock as of December 31, 2024 of $18.36 per share, after giving retroactive effect to the Reverse Stock Split. |

| (3) | 25% of the shares underlying the option vested on the first anniversary of the date of grant, with the remainder vesting in 12 equal quarterly installments thereafter, subject to the named executive officer’s continuous service through each such date. |

| (4) | These time-based RSUs will vest in 12 equal quarterly installments through October 29, 2025, subject to the named executive officer’s continuous service as of each vesting date. |

| (5) | Shares underlying these stock options vest monthly over a four-year period from the grant date, subject to the named executive officer’s continuous service through each such date. |

| (6) | These time-based RSUs vest in three equal annual installments on the first, second and third anniversary following date of the grant, subject to the named executive officer’s continuous employment with the Company. |

| (7) | Shares underlying these stock options vest over a four-year period as follows: 25% of the shares underlying the option vest on the first anniversary of the date of grant, with the remainder vesting in equal monthly installments over the 36 months thereafter, subject to the named executive officer’s continuous service through each such date. |

| (8) | Upon the closing of the Merger, the vesting of all outstanding options and RSUs held by Cara’s named executive officers was accelerated, the RSUs were net settled and the options remain outstanding in accordance with their terms, except that the post-termination exercise period shall not exceed 90 days and the exercise price and the number of shares underlying such options were adjusted upon the effectiveness of the Reverse Stock Split. The share numbers and the option exercise prices listed in this table reflect such adjustment. |

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Pension Benefits

Legacy Tvardi’s named executive officers did not participate in, or otherwise receive any benefits under, any pension or retirement plan sponsored by Legacy Tvardi during the fiscal year ended December 31, 2024.

Nonqualified Deferred Compensation

Legacy Tvardi’s named executive officers did not participate in, or earn any benefits under, a non-qualified deferred compensation plan sponsored by Legacy Tvardi during the fiscal year ended December 31, 2024.

Employment Agreements

Below are descriptions of Legacy Tvardi’s employment arrangements with its named executive