Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 688

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 688
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 and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change of control of Cara or other corporate action and may adversely affect the market price of Cara’s common stock and the voting and other rights of the holders of common stock.

#### Number of Directors

#### Tvardi
Tvardi’s bylaws, as amended, provide that Tvardi’s authorized number of directors shall be determined from time to time by resolution of the Tvardi Board. The Tvardi Board currently has six members.

#### Cara
Cara’s amended and restated certificate of incorporation and amended and restated bylaws provide that, subject to any special rights of the holders of any series of preferred stock to elect directors, Cara’s authorized number of directors shall be determined from time to time by resolution of the Cara Board. The Cara Board currently has six members.

#### Stockholder Nominations and Proposals

#### Tvardi
None.

#### Cara
Cara’s amended and restated bylaws provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide written notice on a timely basis and also specify requirements as to the form and content of a stockholder’s notice.

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TABLE OF CONTENTS

#### Classification of Board of Directors

#### Tvardi
Tvardi’s amended and restated certificate of incorporation and bylaws do not provide for the division of the Tvardi Board into staggered classes.

#### Cara
Cara’s amended and restated certificate of incorporation provides that the directors shall be divided into three classes, with each class having a three-year term expiring on a staggered basis.

#### Removal of Directors

#### Tvardi
Tvardi’s bylaws provide that, any director may be removed from the Tvardi Board at any time, with or without cause, by the holders of a majority of the shares then entitled to vote in an election of directors.

Tvardi’s amended and restated certificate of incorporation provides that the holders of record of the shares of Tvardi Series B Preferred Stock, exclusively and as a separate class, shall be entitled to elect one director of Tvardi, the holders of record of the shares of Tvardi Series A Preferred Stock, exclusively and as a separate class, shall be entitled to elect two directors of Tvardi and the holders of record of the shares of common stock,