Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 425

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 425
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, the Company’s restricted stock units consist of time-based restricted stock units. All remaining performance-based restricted stock units either vested or were forfeited in the first quarter of 2024. For time-based restricted stock units, the Company recognizes compensation expense associated with these restricted stock units ratably over the award’s vesting period following the grant date. For performance-based restricted stock units, vesting was contingent on the achievement of certain performance targets, subject to the recipient’s continuous service through each performance target. Recognition of compensation expense associated with these performance-based awards began when, and to the extent, the performance criteria were probable of achievement and the employee had met the service conditions.

<div align='center'>F-87</div>

CARA THERAPEUTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except share and per share data)

During the years ended December 31, 2024, 2023 and 2022, the Company recognized compensation expense relating to restricted stock units as follows:

| ​                                   
 ​                                   | ​ 
 ​ 
 ​ | ​                       
 Year Ended December 31, |     ​ 
  2024 | ​ | ​ |     ​ 
  2023 | ​ | ​ |     ​ 
  2022 |
|:------------------------------------|:--|:------------------------|------:|:--|:--|------:|:--|:--|------:|
| Research and development            | ​ | $                       |   248 | ​ | $ |   476 | ​ | $ |   765 |
| General and administrative          | ​ | ​                       | 2,391 | ​ | ​ | 1,647 | ​ | ​ | 3,321 |
| Total restricted stock unit expense | ​ | $                       | 2,639 | ​ | $ | 2,123 | ​ | $ | 4,086 |

A summary of restricted stock unit activity related to employees and non-employee members of the Company’s Board of Directors as of and for the year ended December 31, 2024 is as follows:

| ​                                                                           
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 ​                                                                           
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 ​ 
 ​ |         ​ 
         ​ 
 Number of 
     Units | ​ 
 ​ 
 ​ | ​               
 Weighted        
 Average Grant   
 Date Fair Value |      ​ |
|:----------------------------------------------------------------------------|:--|----------:|:--|:----------------|-------:|
| Outstanding