Company: TVRD
Filing Date: 2025-01-27
Form Type: S-4/A
Source: 0001104659-25-006050
Chunk: 311

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-01-27
Form: S-4/A
Chunk 311
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 continued service as a director through such date. |

| (7) | The stock option award vests in 12 substantially equal quarterly installments, such that all awards will be vested on the anniversary of the vesting commencement date, subject to the director’s continued service to Cara through such vesting date. |

Cara RSUs As of January 15, 2025, Cara’s executive officers and directors collectively held 79,913 unvested RSUs. The Cara Board has taken action to accelerate in full, effective upon consummation of the Merger, the vesting of all Cara RSUs then outstanding. Any Cara RSUs granted after consummation of the Merger that are not yet vested will be subject to “double-trigger” accelerated vesting upon a termination by Cara without “cause” (and not including death or disability) or resignation for “good reason,” in either case, on or within 12 months following the occurrence of a “change in control” (which will occur upon the closing of the Merger), in accordance with the terms of the Posner Employment Agreement and the Severance Plan, as described above. The definitions of “cause” and “good reason” applicable to each executive officer are contained in the Posner Employment Agreement and the Severance Plan, as applicable, and have not been modified in connection with the Merger and the transactions contemplated thereby. The following table presents certain information concerning the outstanding Cara RSUs held by each of Cara’s executive officers and directors as of January 15, 2025:

| ​                      | ​ | ​            | ​ |                       ​ |
| ​                      | ​ | ​            | ​ |               Number of |
| ​                      | ​ | ​            | ​ |   Shares of Cara Common |
| ​                      | ​ | ​            | ​ |        Stock Underlying |
| ​                      | ​ | ​            | ​ | Unvested RSUs that will |
| ​                      | ​ | ​            | ​ |           Vest upon the |
| ​                      | ​ | Vesting      | ​ |     Consummation of the |
| ​                      | ​ | Commencement | ​ |                  Merger |
| Name                   |   | Date         |   |                      -# |
| Christopher Posner     |   | 10/29/2021   |   |                   2,958 |
| ​                      |   | 2/25/2022    |   |                   1,083 |
| Scott Terr