Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 44

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 44
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 rules. All of Cara’s current directors, other than the member to be designated by Cara prior to Closing, are expected to resign from their positions as directors of Cara, effective as of the Effective Time. Interests of Certain Directors and Executive Officers of Cara and Tvardi in the Merger In considering the recommendation of the Cara Board with respect to the issuance of Cara common stock pursuant to the Merger Agreement and the other matters to be acted upon by Cara’s stockholders at the Cara special meeting, Cara’s stockholders should be aware that certain members of the Cara Board and current and former executive officers of Cara have interests in the Merger that may be different from, or in addition to, interests they have as Cara’s stockholders. The Cara Board was aware of these potential conflicts of interest and considered them, among other matters, in reaching its decision to approve the Merger Agreement, the Merger, and the Contemplated Transactions. As of January 15, 2025, Cara’s directors and executive officers (including affiliates) beneficially owned, in the aggregate, approximately 4.3% of the outstanding shares of Cara common stock. As of January 15, 2025, Cara’s executive officers and directors collectively held unvested stock options to purchase 155,299 shares of Cara common stock and vested stock options to purchase 151,943 shares of Cara common stock, for a total of options to purchase 307,242 shares of Cara common stock. As of January 15, 2025, Cara’s executive officers and directors collectively held 79,913 unvested RSUs. The vesting of all Cara options and RSUs will be accelerated upon consummation of the Merger; the RSUs will be net settled and the options will 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 will be adjusted based on the Reverse Stock Split. The compensation arrangements with Cara’s officers and directors are discussed in greater detail in the section titled “ The Merger — Interests of the Cara Directors and Executive Officers in the Merger” beginning on page 162 of this proxy statement/prospectus. Additionally, as described elsewhere in this proxy statement/ prospectus, including in the section captioned “ Management Following the Merger” beginning on page 18 of this proxy statement/prospectus, one of Cara’s directors is expected to remain a director of the combined company upon the closing