TVRD

SEC source: 0001811463-26-000002 · form4-06112026_040609.xml · derivative · entry 1

Shiff Susan Ph.D. · CIK 0001811463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,000

Underlying: Common Stock · 6,000 shares

Expires 2036-06-08

F1 · derivative.exercise_date: 100% of the shares underlying the option shall vest on the earlier of June 9, 2027 or the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

SEC source: 0001201256-26-000003 · form4-06112026_040613.xml · derivative · entry 1

WYZGA MICHAEL S · CIK 0001201256 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,000

Underlying: Common Stock · 6,000 shares

Expires 2036-06-08

F1 · derivative.exercise_date: 100% of the shares underlying the option shall vest on the earlier of June 9, 2027 or the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

SEC source: 0001609480-26-000002 · form4-06112026_040607.xml · derivative · entry 1

Smith Cynthia · CIK 0001609480 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,000

Underlying: Common Stock · 6,000 shares

Expires 2036-06-08

F1 · derivative.exercise_date: 100% of the shares underlying the option shall vest on the earlier of June 9, 2027 or the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

SEC source: 0001588861-26-000002 · form4-06112026_040605.xml · derivative · entry 1

Shah Sujal · CIK 0001588861 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,000

Underlying: Common Stock · 6,000 shares

Expires 2036-06-08

F1 · derivative.exercise_date: 100% of the shares underlying the option shall vest on the earlier of June 9, 2027 or the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

SEC source: 0001762801-26-000002 · form4-06112026_040615.xml · derivative · entry 1

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,000

Underlying: Common Stock · 6,000 shares

Expires 2036-06-08

F1 · derivative.exercise_date: 100% of the shares underlying the option shall vest on the earlier of June 9, 2027 or the date of the Issuer's next annual meeting of stockholders, subject to the Reporting Person's continuous service through such vesting date.

SEC source: 0002064889-26-000002 · form4-02022026_040207.xml · derivative · entry 1

O'Brien Stephen Paul · CIK 0002064889 · Principal Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,000

Underlying: Common Stock · 15,000 shares

Expires 2036-01-29

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable in equal monthly installments over 48 months commencing on January 29, 2026, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064982-26-000002 · form4-02022026_040205.xml · derivative · entry 1

Conn Avi Daniel · CIK 0002064982 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,000

Underlying: Common Stock · 45,000 shares

Expires 2036-01-29

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable in equal monthly installments over 48 months commencing on January 29, 2026, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064881-26-000002 · form4-02022026_040203.xml · derivative · entry 1

Kauh John Saewook M.D. · CIK 0002064881 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,000

Underlying: Common Stock · 45,000 shares

Expires 2036-01-29

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable in equal monthly installments over 48 months commencing on January 29, 2026, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064884-26-000002 · form4-02022026_040201.xml · derivative · entry 1

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 115,000

Underlying: Common Stock · 115,000 shares

Expires 2036-01-29

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable in equal monthly installments over 48 months commencing on January 29, 2026, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064889-25-000003 · form4-12182025_051207.xml · derivative · entry 1

O'Brien Stephen Paul · CIK 0002064889 · Principal Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,000

Underlying: Common Stock · 4,000 shares

Expires 2035-12-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on December 16, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064881-25-000003 · form4-12182025_051205.xml · derivative · entry 1

Kauh John Saewook M.D. · CIK 0002064881 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,500

Underlying: Common Stock · 17,500 shares

Expires 2035-12-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on December 16, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064982-25-000003 · form4-12182025_051203.xml · derivative · entry 1

Conn Avi Daniel · CIK 0002064982 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,500

Underlying: Common Stock · 17,500 shares

Expires 2035-12-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on December 16, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0002064884-25-000003 · form4-12182025_051201.xml · derivative · entry 1

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,500

Underlying: Common Stock · 47,500 shares

Expires 2035-12-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on December 16, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-021100 · form4-08062025_120846.xml · nonDerivative · entry 2

Tweardy Samuel David · CIK 0002066396 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Trust

Disclosed balance after: 0

F1 · kind: The Reporting Person resigned as trustee of the family trust that directly holds the shares, as such the Reporting Person no longer retains any form beneficial ownership. The resignation does not constitute a sale of the of the shares and was permitted by the lock-up agreement by and between each family trust and the Issuer, dated December 17, 2024, and the shares remain subject to the lock-up agreement pursuant to the terms thereof.

F1 · ownership.nature: The Reporting Person resigned as trustee of the family trust that directly holds the shares, as such the Reporting Person no longer retains any form beneficial ownership. The resignation does not constitute a sale of the of the shares and was permitted by the lock-up agreement by and between each family trust and the Issuer, dated December 17, 2024, and the shares remain subject to the lock-up agreement pursuant to the terms thereof.

SEC source: 0001415889-25-021100 · form4-08062025_120846.xml · nonDerivative · entry 1

Tweardy Samuel David · CIK 0002066396 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Trust

Disclosed balance after: 0

F1 · kind: The Reporting Person resigned as trustee of the family trust that directly holds the shares, as such the Reporting Person no longer retains any form beneficial ownership. The resignation does not constitute a sale of the of the shares and was permitted by the lock-up agreement by and between each family trust and the Issuer, dated December 17, 2024, and the shares remain subject to the lock-up agreement pursuant to the terms thereof.

F1 · ownership.nature: The Reporting Person resigned as trustee of the family trust that directly holds the shares, as such the Reporting Person no longer retains any form beneficial ownership. The resignation does not constitute a sale of the of the shares and was permitted by the lock-up agreement by and between each family trust and the Issuer, dated December 17, 2024, and the shares remain subject to the lock-up agreement pursuant to the terms thereof.

SEC source: 0001415889-25-011111 · form4-04212025_050411.xml · derivative · entry 1

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011112 · form4-04212025_050413.xml · derivative · entry 1

Shiff Susan Ph.D. · CIK 0001811463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011110 · form4-04212025_050409.xml · derivative · entry 1

WYZGA MICHAEL S · CIK 0001201256 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011118 · form4-04212025_050428.xml · derivative · entry 1

Larson Jeffrey Leroy · CIK 0002064985 · SVP, Research & Development

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,820

Underlying: Common Stock · 10,820 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011116 · form4-04212025_050423.xml · derivative · entry 1

Chen Yixin · CIK 0002064987 · VP, Chem, Mfg and Ctrls

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,213

Underlying: Common Stock · 7,213 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011117 · form4-04212025_050426.xml · derivative · entry 1

O'Brien Stephen Paul · CIK 0002064889 · Principal Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,213

Underlying: Common Stock · 7,213 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011115 · form4-04212025_050421.xml · derivative · entry 1

Conn Avi Daniel · CIK 0002064982 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,547

Underlying: Common Stock · 43,547 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011114 · form4-04212025_050418.xml · derivative · entry 1

Kauh John Saewook M.D. · CIK 0002064881 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 36,210

Underlying: Common Stock · 36,210 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011113 · form4-04212025_050416.xml · derivative · entry 1

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 182,320

Underlying: Common Stock · 182,320 shares

Expires 2035-04-16

F1 · derivative.exercise_date: 25% of the shares subject to the option shall vest on April 17, 2026, and the balance of the shares subject to the option shall vest in equal monthly installments over the following 36 months, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011109 · form4-04212025_050406.xml · derivative · entry 1

Smith Cynthia · CIK 0001609480 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011108 · form4-04212025_050404.xml · derivative · entry 1

Shah Sujal · CIK 0001588861 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-011107 · form4-04212025_050401.xml · derivative · entry 1

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,000

Underlying: Common Stock · 12,000 shares

Expires 2035-04-16

F1 · derivative.exercise_date: The shares subject to the option shall vest and become exercisable over three years in 12 equal quarterly installments commencing on July 17, 2025, subject to the Reporting Person's continuous service through each applicable vesting date.

SEC source: 0001415889-25-010980 · form4-04172025_060409.xml · derivative · entry 4

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,011

Underlying: Common Stock · 2,011 shares

Expires 2031-01-29

F7 · price: Received in exchange for a stock option to acquire 15,000 shares of common stock of Legacy Tvardi with the exercise price of $0.09 per share pursuant the Merger Agreement.

F8 · price: Under the terms of the Merger, with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock.

F6 · derivative.exercise_date: Fully vested and exercisable.

SEC source: 0001415889-25-010980 · form4-04172025_060409.xml · nonDerivative · entry 3

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Palkon TT Holdings, LLC

Disclosed balance after: 263,164

F2 · kind: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · kind: Received in exchange for 1,962,199 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · price: Received in exchange for 1,962,199 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F4 · ownership.nature: The Reporting Person is a Managing Manager of the Palkon Holdings LLC and Palkon TT Holdings LLC (the "Palkon entities"). The Reporting Person may be deemed to share the power to direct the disposition and vote of the shares held by the Palkon entities, but disclaims beneficial ownership, except to any pecuniary interests therein.

SEC source: 0001415889-25-010980 · form4-04172025_060409.xml · nonDerivative · entry 2

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Palkon Holdings, LLC

Disclosed balance after: 176,030

F2 · kind: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F3 · kind: Received in exchange for 1,312,508 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F3 · price: Received in exchange for 1,312,508 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F4 · ownership.nature: The Reporting Person is a Managing Manager of the Palkon Holdings LLC and Palkon TT Holdings LLC (the "Palkon entities"). The Reporting Person may be deemed to share the power to direct the disposition and vote of the shares held by the Palkon entities, but disclaims beneficial ownership, except to any pecuniary interests therein.

SEC source: 0001415889-25-010980 · form4-04172025_060409.xml · nonDerivative · entry 1

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,191

F1 · price: Received in exchange for 31,252 shares of Series B Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

SEC source: 0001415889-25-010982 · form4-04172025_060413.xml · derivative · entry 1

WYZGA MICHAEL S · CIK 0001201256 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,441

Underlying: Common Stock · 18,441 shares

Expires 2031-12-15

F2 · price: Received in exchange for a stock option to acquire 137,500 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.63 per share pursuant to an Agreement and Plan of Merger and reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010985 · form4-04172025_060419.xml · derivative · entry 2

O'Brien Stephen Paul · CIK 0002064889 · Principal Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,352

Underlying: Common Stock · 3,352 shares

Expires 2034-01-30

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · price: Received in exchange for a stock option to acquire 25,000 shares of common stock of Legacy Tvardi with the exercise price of $0.92 per share pursuant to the Merger Agreement.

F4 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010985 · form4-04172025_060419.xml · derivative · entry 1

O'Brien Stephen Paul · CIK 0002064889 · Principal Accounting Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,399

Underlying: Common Stock · 11,399 shares

Expires 2031-12-15

F2 · price: Received in exchange for a stock option to acquire 85,000 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.63 per share pursuant to an Agreement and Plan of Merger and reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010984 · form4-04172025_060417.xml · nonDerivative · entry 2

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · BioMatrix Partners Ltd.

Disclosed balance after: 202,044

F2 · kind: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F4 · kind: Received in exchange for 1,000,000 shares of Series A Preferred Stock and 173,448 Series B Preferred Stock of Legacy Tvardi pursuant to the Merger Agreement and 44,665 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $1,000,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F1 · price: Received in exchange for 250,000 shares of Series A Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement") and 11,183 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $250,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · ownership.nature: The Reporting Person is a general partner of BioMatrix Partners Ltd. ("BioMartix") and may be deemed to share voting and dispositive power of the shares held by Biomatrix but disclaims beneficial ownership of the shares held by such entity except to any pecuniary interest therein.

SEC source: 0001415889-25-010984 · form4-04172025_060417.xml · nonDerivative · entry 1

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Firepit Partners, LP

Disclosed balance after: 44,712

F1 · kind: Received in exchange for 250,000 shares of Series A Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement") and 11,183 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $250,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F2 · kind: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · price: Received in exchange for 250,000 shares of Series A Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement") and 11,183 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $250,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F3 · ownership.nature: The Reporting Person is a general partner of Firepit Partners, LP ("Firepit") and may be deemed to share voting and dispositive power of the shares held by Firepit but disclaims beneficial ownership of the shares held by such entity except to any pecuniary interest therein.

SEC source: 0001415889-25-010983 · form4-04172025_060415.xml · derivative · entry 1

Kauh John Saewook M.D. · CIK 0002064881 · Chief Medical Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 74,049

Underlying: Common Stock · 74,049 shares

Expires 2031-12-15

F2 · price: Received in exchange for a stock option to acquire 552,129 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.82 per share pursuant to an Agreement and Plan of Merger and reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010981 · form4-04172025_060411.xml · derivative · entry 1

Chen Yixin · CIK 0002064987 · VP, Chem, Mfg and Ctrls

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,752

Underlying: Common Stock · 14,752 shares

Expires 2031-12-15

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F3 · price: Received in exchange for a stock option to acquire 110,000 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.63 per share pursuant to an Agreement and Plan of Merger and reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F1 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010979 · form4-04172025_060407.xml · derivative · entry 2

Shah Sujal · CIK 0001588861 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,047

Underlying: Common Stock · 8,047 shares

Expires 2031-12-15

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · price: Received in exchange for a stock option to acquire 60,000 shares of common stock of Legacy Tvardi with the exercise price of $0.63 per share pursuant to the Merger Agreement.

F4 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010979 · form4-04172025_060407.xml · derivative · entry 1

Shah Sujal · CIK 0001588861 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,394

Underlying: Common Stock · 10,394 shares

Expires 2031-01-29

F2 · price: Received in exchange for a stock option to acquire 77,500 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.09 per share pursuant to an Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: Fully vested and exercisable.

SEC source: 0001415889-25-010978 · form4-04172025_060405.xml · derivative · entry 2

Larson Jeffrey Leroy · CIK 0002064985 · SVP, Research & Development

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,364

Underlying: Common Stock · 5,364 shares

Expires 2031-12-15

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · price: Received in exchange for a stock option to acquire 40,000 shares of common stock of Legacy Tvardi with the exercise price of $0.63 per share pursuant to the Merger Agreement.

F4 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010978 · form4-04172025_060405.xml · derivative · entry 1

Larson Jeffrey Leroy · CIK 0002064985 · SVP, Research & Development

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,764

Underlying: Common Stock · 16,764 shares

Expires 2031-01-29

F2 · price: Received in exchange for a stock option to acquire 125,000 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.09 per share pursuant to an Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: Fully vested and exercisable.

SEC source: 0001415889-25-010977 · form4-04172025_060403.xml · derivative · entry 1

Conn Avi Daniel · CIK 0002064982 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 89,053

Underlying: Common Stock · 89,053 shares

Expires 2032-02-03

F2 · price: Received in exchange for a stock option to acquire 664,000 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.63 per share pursuant to an Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010976 · form4-04172025_060401.xml · derivative · entry 3

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 160,940

Underlying: Common Stock · 160,940 shares

Expires 2031-12-15

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F6 · price: Received in exchange for a stock option to acquire 1,200,000 shares of common stock of Legacy Tvardi with the exercise price of $0.63 per share pursuant to the Merger Agreement.

F5 · derivative.exercise_date: 25% of the shares subject to the option vested on the one year anniversary of the vesting commencement date and the balance of the shares vested or will vest in a series of thirty-six (36) successive equal monthly installments measured from the first anniversary of the vesting commencement date.

SEC source: 0001415889-25-010976 · form4-04172025_060401.xml · derivative · entry 2

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,011

Underlying: Common Stock · 2,011 shares

Expires 2031-01-29

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F4 · price: Received in exchange for a stock option to acquire 15,000 shares of common stock of Legacy Tvardi with the exercise price of $0.09 per share pursuant to the Merger Agreement.

F1 · derivative.exercise_date: Fully vested and exercisable.

SEC source: 0001415889-25-010976 · form4-04172025_060401.xml · derivative · entry 1

Alibhai Imran Nizamudin · CIK 0002064884 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 207,881

Underlying: Common Stock · 207,881 shares

Expires 2029-01-15

F2 · price: Received in exchange for a stock option to acquire 1,550,000 shares of common stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") with the exercise price of $0.09 per share pursuant to an Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement").

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each outstanding option to purchase shares of Legacy Tvardi common stock was assumed by the Issuer and converted into an option to purchase the Issuer's common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F1 · derivative.exercise_date: Fully vested and exercisable.

SEC source: 0001415889-25-011857 · form4a-05022025_100517.xml · nonDerivative · entry 2

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Palkon TT Holdings, LLC

Disclosed balance after: 263,164

F1 · kind: The initial Form 4 inadvertently listed an incorrect transaction code.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F5 · price: Received in exchange for 1,962,199 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F4 · ownership.nature: The Reporting Person is a Managing Manager of the Palkon Holdings LLC and Palkon TT Holdings LLC (the "Palkon entities"). The Reporting Person may be deemed to share the power to direct the disposition and vote of the shares held by the Palkon entities, but disclaims beneficial ownership, except to any pecuniary interests therein.

SEC source: 0001415889-25-011857 · form4a-05022025_100517.xml · nonDerivative · entry 1

Wirk Shaheen · CIK 0002050227 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Palkon Holdings, LLC

Disclosed balance after: 176,030

F1 · kind: The initial Form 4 inadvertently listed an incorrect transaction code.

F2 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F3 · price: Received in exchange for 1,312,508 shares of Series B Preferred Stock of Legacy Tvardi pursuant to Merger Agreement.

F4 · ownership.nature: The Reporting Person is a Managing Manager of the Palkon Holdings LLC and Palkon TT Holdings LLC (the "Palkon entities"). The Reporting Person may be deemed to share the power to direct the disposition and vote of the shares held by the Palkon entities, but disclaims beneficial ownership, except to any pecuniary interests therein.

SEC source: 0001415889-25-011859 · form4a-05022025_100513.xml · nonDerivative · entry 2

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · BioMatrix Partners Ltd.

Disclosed balance after: 202,044

F1 · kind: The initial Form 4 inadvertently listed an incorrect transaction code.

F2 · price: Received in exchange for 250,000 shares of Series A Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement") and 11,183 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $250,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F5 · price: Received in exchange for 1,000,000 shares of Series A Preferred Stock and 173,448 Series B Preferred Stock of Legacy Tvardi pursuant to the Merger Agreement and 44,665 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $1,000,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F6 · ownership.nature: The Reporting Person is a general partner of BioMatrix Partners Ltd. ("BioMartix") and may be deemed to share voting and dispositive power of the shares held by Biomatrix but disclaims beneficial ownership of the shares held by such entity except to any pecuniary interest therein.

SEC source: 0001415889-25-011859 · form4a-05022025_100513.xml · nonDerivative · entry 1

HALL WALLACE L JR · CIK 0001762801 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · Firepit Partners, LP

Disclosed balance after: 44,712

F1 · kind: The initial Form 4 inadvertently listed an incorrect transaction code.

F2 · price: Received in exchange for 250,000 shares of Series A Preferred Stock of Tvardi Therapeutics, Inc. ("Legacy Tvardi") pursuant to Agreement and Plan of Merger and Reorganization by and among, the Issuer, CT Convergence Merger Sub, Inc., a wholly-owned subsidiary of the Issuer ("Merger Sub") and Legacy Tvardi, as amended (the "Merger Agreement") and 11,183 shares of common stock of Issuer issuable upon exchange of convertible notes of Tvardi in the principal amount of $250,000 plus accrued and unpaid interest, pursuant to the Merger Agreement and the terms of the convertible notes.

F3 · price: Under the terms of the Merger Agreement, on April 15, 2025, Merger Sub merged with and into Legacy Tvardi (the "Merger"), with Legacy Tvardi surviving the Merger as a wholly-owned subsidiary of the Issuer. Upon the closing of the Merger, each share of Legacy Tvardi stock was converted into the right to receive 0.1341 of shares of the Issuer common stock. Subsequent to the Merger, the name of the Issuer was changed from Cara Therapeutics, Inc. to Tvardi Therapeutics, Inc.

F4 · ownership.nature: The Reporting Person is a general partner of Firepit Partners, LP ("Firepit") and may be deemed to share voting and dispositive power of the shares held by Firepit but disclaims beneficial ownership of the shares held by such entity except to any pecuniary interest therein.