Company: TVRD
Filing Date: 2025-10-20
Form Type: S-1/A
Source: 0001104659-25-100896
Chunk: 271

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-10-20
Form: S-1/A
Chunk 271
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 of stock options are substantially similar to those set forth in Note 15 to Cara’s unaudited condensed financial statements for the quarter ended September 30, 2024 included elsewhere in this proxy statement/prospectus. These amounts do not reflect the actual economic value that may be realized by the non-employee director. (3) The following table sets forth the aggregate number of unvested RSUs and the aggregate number of shares underlying stock options held by Cara’s non-employee directors held as of December 31, 2024 by each non-employee director who was serving as of December 31, 2024:

| Director               | ​ | ​ | RSUs |   |       |   | ​ | ​ | Number ofSharesUnderlyingOptions |   |        |   | ​ |
| Jeffrey L. Ives, Ph.D. | ​ | ​ | ​    | ​ | 4,184 | ​ | ​ | ​ | ​                                | ​ |  8,902 | ​ | ​ |
| Martin Vogelbaum       | ​ | ​ | ​    | ​ | 8,369 | ​ | ​ | ​ | ​                                | ​ | 17,431 | ​ | ​ |
| Lisa von Moltke        | ​ | ​ | ​    | ​ | 4,184 | ​ | ​ | ​ | ​                                | ​ |  7,937 | ​ | ​ |
| Susan Shiff, Ph.D.     | ​ | ​ | ​    | ​ | 4,184 | ​ | ​ | ​ | ​                                | ​ |  8,491 | ​ | ​ |
| Helen M. Boudreau      | ​ | ​ | ​    | ​ | 4,184 | ​ | ​ | ​ | ​                                | ​ |  9,742 | ​ | ​ |

Mr. Posner was also a member of Cara’s Board but did not receive any additional compensation for his service as a director. Mr. Posner’s compensation as an executive officer is set forth above under “ Executive Compensation. ” Non-Employee Director Compensation Policy On April 17, 2025, our board of directors adopted a non-employee director compensation policy, pursuant to which we will pay our non-employee directors a cash retainer for their service on our board of directors and for service on each committee of the board of directors of which the director is a member. These retainers are payable in arrears in four equal quarterly install