Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 639

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 639
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 principal accounting officer or controller, or persons performing similar functions. The Code of Business Conduct and Ethics will cover fundamental ethical and compliance-related principles and practices such as conflicts of interest, compliance with laws, use of our assets and business ethics. The Code of Business Conduct and Ethics, and any applicable waivers or amendments, will be made available on the combined company’s website.

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CARA’S EXECUTIVE AND DIRECTOR COMPENSATION Cara is a “smaller reporting company” under Item 10 of Regulation S-K promulgated under the Exchange Act and the following compensation disclosure is intended to comply with the requirements applicable to smaller reporting companies. Although the rules allow Cara to provide less detail about its executive compensation program than companies that are not smaller reporting companies, Cara’s Compensation Committee is committed to providing the information necessary to help stockholders understand its executive compensation-related decisions. Accordingly, this section includes supplemental narratives that describe Cara’s 2024 compensation program for Cara named executive officers. Cara’s named executive officers for the year ended December 31, 2024 are as follows: • Christopher Posner, President and Chief Executive Officer; • Ryan Maynard, Chief Financial Officer; and • Scott Terrillion, General Counsel, Secretary and Chief Compliance Officer. Compensation Mix Cara has a pay-for-performance focused executive compensation philosophy. Cara believes that compensation should be designed to drive company performance to increase stockholder value. Cara seeks to achieve this by using different elements of compensation and a market-based approach to attract, retain and motivate a high-performing team of executive officers and by aligning most of the compensation of each of Cara’s executives with Cara’s short- and long-term performance, as well as each such executive’s individual contributions. Cara believes that it is important that performance- and equity-based compensation comprise a substantial portion of the total compensation of each of Cara’s executives in order to align Cara’s executives’ interests with those of Cara’s stockholders. Clawback Policy The Company adopted an incentive compensation clawback policy on November 28, 2023 that complies with SEC rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act and related stock exchange listing rules. 2024 Summary Compensation Table The table below shows for the periods presented, compensation awarded to or paid to, or earned by, Cara’s named executive officers.

| Name and Principal Position                                                | ​ | ​ | Year |   |      |   | ​ | ​ | Salary($) |   |         |   | ​ |