Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 316

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 316
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. 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 the Posner Employment Agreement. Under the terms of the Posner Employment Agreement, upon execution and effectiveness of a general release of claims, Mr. Posner will be entitled to severance payments if Cara terminates his employment without Cause (as defined in the Posner Employment Agreement) (and not including death or disability), or if he resigns his employment with Cara for Good Reason (as defined in the Posner Employment Agreement).

If such termination occurs other than during the 12-month period following a Change in Control (as defined in the Posner Employment Agreement and including consummation of the Merger), Mr. Posner will be eligible to receive the following enhanced severance benefits:

(a) an amount equal to 12 months of continued base salary, payable on regular payroll dates;

(b) payment of applicable COBRA premiums for up to 12 months following termination;

(c) a lump-sum payment equal to his target bonus, pro-rated for the portion of the year he was employed; and

(d) 12 additional months of equity vesting for time-based vesting equity awards.

If such termination occurs during the 12-month period following a Change in Control, including consummation of the Merger, Mr. Posner will be eligible to receive the following enhanced severance benefits:

(a) an amount equal to 18 months of continued base salary, payable on regular payroll dates;

(b) payment of