Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 321

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 321
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 | 2/25/2022               | ​ | ​ |                                                                                                              ​ | ​ |    555 | ​ | ​ |
| Martin Vogelbaum       | ​         | ​ | 6/4/2024                | ​ | ​ |                                                                                                              ​ | ​ | 25,107 | ​ | ​ |
| Jeffrey L. Ives, Ph.D. | ​         | ​ | 6/4/2024                | ​ | ​ |                                                                                                              ​ | ​ | 12,553 | ​ | ​ |
| Susan Shiff, Ph.D.     | ​         | ​ | 6/4/2024                | ​ | ​ |                                                                                                              ​ | ​ | 12,553 | ​ | ​ |
| Lisa von Moltke, M.D.  | ​         | ​ | 6/4/2024                | ​ | ​ |                                                                                                              ​ | ​ | 12,553 | ​ | ​ |
| Helen M. Boudreau      | ​         | ​ | 6/4/2024                | ​ | ​ |                                                                                                              ​ | ​ | 12,553 | ​ | ​ |

Accelerated Vesting of Cara Options and Cara RSUs The Severance Plan provides that, in the event that, within the 12-month period immediately following a change in control (which includes consummation of the Merger), a holder of outstanding awards experiences a termination by Cara without “cause” (and not including death or disability) or by the holder for “good reason,” then the vesting and, if applicable, exercisability of then-outstanding equity awards subject to time-based vesting held by such holder will accelerate in full upon the date of such termination of service. Messrs. Maynard and Terrillion are participants in the Severance Plan.

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TABLE OF CONTENTS

Mr. Posner’s employment agreement provides that, in the event that, within the 12-month period immediately following a change in control (which includes consummation of the Merger), Mr. Posner experiences a termination of service by Cara other than for “cause” or Mr. Posner terminates his employment for “good reason,” then the vesting and, if applicable, exercisability of outstanding awards held by Mr. Posner will accelerate in full upon the date of such termination of service. The Cara Board has taken action to accelerate the vesting in full of all options and RSUs outstanding upon the consummation of the