Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 312

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 312
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 and former executive officers of Cara have interests in the Merger that may be different from, or in addition to, the interests of Cara’s stockholders. As more fully described below, these interests relate to or arise from, among other things: • severance benefits to which each of Cara’s executive officers may become entitled in the event of his termination of employment following consummation of the Merger; • action the Cara Board has taken in accordance with the Merger Agreement to accelerate the vesting in full of all Cara options and RSUs upon the consummation of the Merger, including Cara options and RSUs held by Cara’s directors and executive officers; • the accelerated vesting of all options to purchase shares of Cara common stock and RSUs held by Cara’s executive officers in the event of specified terminations or resignations of employment within 12 months following consummation of the Merger; and • the agreement that one of Cara’s directors will serve on the Combined Company Board following the consummation of the Merger. The Cara Board was aware of these potential conflicts of interest and considered them, among other matters, in reaching their respective decisions to approve the Merger Agreement and the Merger, and to recommend, as applicable, that Cara’s stockholders approve the proposals to be presented to Cara’s stockholders for consideration at the Cara special meeting as contemplated by this proxy statement/ prospectus. Ownership Interests As of January 15, 2025, Cara’s executive officers and directors and such directors affiliated funds beneficially owned, in the aggregate, approximately 4.3% of the shares of Cara common stock. See the

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section titled “ Principal Stockholders of Cara ” beginning on page 403of this proxy statement/prospectus for additional information. Certain Cara officers and directors, and their affiliates, have also entered into the Support Agreements in connection with the Merger. For a more detailed discussion of the Support Agreements, please see the section titled “ Agreements Related to the Merger ” beginning on page 214of this proxy statement/prospectus.

#### Executive Severance Arrangements
Christopher Posner

Cara is party to an executive employment agreement with Mr. Posner that was entered into in October 2021 (Posner Employment Agreement). The Posner Employment Agreement provides for an initial annual base salary and target bonus. Mr. Posner does not currently participate in the Severance Plan (defined below) and instead is eligible for severance benefits under