Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 241

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 241
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 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 officers. For a discussion of the severance pay and other benefits to be provided in connection with a termination of employment and/or a change in control under the arrangements with its named executive officers, see the subsection titled “— Potential Payments and Benefits upon Termination or Change in Control” below.

Imran Alibhai, Ph.D. Legacy Tvardi entered into an offer letter agreement with Dr. Alibhai in November 2018, which governs the current terms of his employment with Tvardi. The agreement has no specific term and provides for at-will employment. Pursuant to the agreement, Dr. Alibhai is entitled to an annual base salary and is eligible to receive an annual performance bonus with a target equal to a pre-determined percentage of his annual base salary, based on the achievement of individual performance and company performance as determined by its board of directors. Dr. Alibhai’s agreement also provides for certain severance benefits, as described below under the