Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 315

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 315
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 named executive officers in connection with the Merger. The compensation shown in the table below is intended to comply with Item 402(t) of Regulation S-K, which requires disclosure of information about compensation for each named executive officer that is based on or otherwise relates to the Merger. This compensation is referred to as “golden parachute” compensation by the applicable SEC disclosure rules. The Cara named executive officers will not receive pension, tax reimbursement or other benefits in connection with the Merger.

The values in the table below are based on the following assumptions:

•

the relevant price per share of Cara common stock is approximately $5.29, which, in accordance with SEC requirements, is equal to the average closing price of a share of Cara common stock over the first five business days following the first public announcement of the Merger on December 18, 2024, after giving effect to the December Reverse Stock Split;

•

each of Cara’s named executive officers who is currently employed by Cara will remain employed through the closing of the Merger, and their employment is terminated without “cause” (and not including death or disability) or by the executive officer for “good reason” as of immediately following the assumed effective time of the Merger on January 15, 2025 (in each case, referred to as a “qualifying termination”);

•

each of Cara’s named executive officers holds the outstanding equity awards that were held by such named executive officer as of January 15, 2025, the latest practicable date before the filing of this proxy statement; and

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TABLE OF CONTENTS

• the base salary, target annual incentive compensation, and health and welfare benefit elections of each Cara named executive officer remains the same as of January 15, 2025. The following table and footnotes describe payments and benefits that will be paid solely based on the closing of the Merger (single-trigger payments), and payments and benefits that will be paid based on the closing of the Merger and a qualifying termination of employment following the Merger (double-trigger payments) (in thousands):

| Name             | ​ | ​ | Cash($)(1) |   |       |   | ​ | ​ | Equity($)(2) |   |    |   | ​ | ​ | Perquisites/​Benefits($)(3) |   |     |   | ​ | ​ | Total($) |   |       |   | ​ |
| Chris Posner     | ​ | ​ | ​          | ​