Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 238

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 238
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ger, the Company’s named executive officers are eligible to receive annual non-equity incentive compensation based on the satisfaction of individual and corporate performance objectives established by the Company’s board of directors. Each named executive officer has a target annual incentive opportunity, calculated as a percentage of annual base salary, and may earn more or less than the target amount based on the Company’s and his individual performance. The annual incentives amounts earned will be determined following the end of the year, based on achievement of the designated corporate and individual performance objectives. Equity-Based Incentive Awards Legacy Tvardi’s equity award program was the primary vehicle for offering long-term incentives to its executive officers. Legacy Tvardi believed that equity awards provided its executives with a strong link to its long-term performance, created an ownership culture, helped align the interests of its executives and its stockholders and promoted retention of its executive officers and other employees. Prior to the Merger, Legacy Tvardi used stock option grants for this purpose because it believed they were an effective means by which to align the long-term interests of its executive officers with those of its stockholders. Grants to executive officers and other employees were made at the discretion of Legacy Tvardi’s board of directors, are not made at any specific time during a year and were historically been made primarily in connection with the commencement of employment.

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No equity awards were granted to Legacy Tvardi’s named executive officers during 2024. Following the Merger, the Company’s equity-based incentive awards granted to its named executive officers are designed to align the interests of its named executive officers with those of its stockholders. Vesting of equity awards is generally tied to each officer’s continuous service with the Company and serves as an additional retention measure. Executives generally will be awarded an initial new hire grant upon commencement of employment and thereafter on an annual basis. Additional grants may occur periodically in order to specifically incentivize executives with respect to achieving certain corporate goals or to reward executives for exceptional performance. Unless and until the Board provides otherwise, all equity awards will be granted pursuant to our 2025 Equity Incentive Plan, the terms of which plan are described below under “— Equity Benefit Plans — 2025 Equity Incentive Plan.” Outstanding Equity Awards as of December 31, 2024 The following table provides information regarding outstanding equity awards of Legacy Tvardi held by its named executive officers as of December 31, 2024.

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