Company: TVRD
Filing Date: 2025-02-14
Form Type: S-4/A
Source: 0001104659-25-013053
Chunk: 656

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: S-4/A
Chunk 656
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 board of directors. For 2023 and 2024, each of Drs. Alibhai and Kauh and Mr. Conn were eligible to receive a target bonus equal to 50%, 30% and 30% of his base salary, respectively. In January 2024, the Tvardi board of directors approved and paid annual performance bonuses for Drs. Alibhai and Kauh and Mr. Conn in the amounts of $267,500, $110,466 and $111,000, respectively. In January 2025, the Tvardi board of directors approved and paid annual performance bonuses for Drs. Alibhai and Kauh in the amounts of $275,525 and $123,600, respectively. In recognition of Mr. Conn’s additional efforts in 2024 in connection with the Merger and the Convertible Note financing completed or entered into in 2024, the Tvardi board of directors approved and paid an annual performance bonus for Mr. Conn of $171,495. All such bonuses are reflected in the “Bonus” column of the Summary Compensation Table above. Equity-Based Incentive Awards Tvardi’s equity award program is the primary vehicle for offering long-term incentives to its executive officers. Tvardi believes that equity awards provide its executives with a strong link to its long-term performance, create an ownership culture, help align the interests of its executives and its stockholders and promote retention of its executive officers and other employees. To date, Tvardi has used stock option grants for this purpose because it believes they are an effective means by which to align the long-term interests of its executive officers with those of its stockholders. Grants to executive officers and other employees are made at the discretion of Tvardi’s board of directors, are not made at any specific time during a year and have historically been made primarily in connection with the commencement of employment. In January 2023, in connection with his commencement of employment with Tvardi, Tvardi granted Dr. Kauh a stock option to purchase 552,129 shares of its common stock. The option has an exercise price of $0.82 per share and is subject to a four-year vesting schedule, with 25% of the shares vesting on the first anniversary of the vesting commencement date and the balance vesting monthly over 36 months thereafter, subject to Dr. Kauh’s continued service with Tvardi. No equity awards were granted to the named