---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-122615"
form_type: "8-K"
ticker: "TVRD"
cik: "0001346830"
company_name: "Tvardi Therapeutics, Inc."
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:43:09.231092+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Tvardi grants retention stock options to CEO, CMO, CFO; adopts severance plan

## Summary
- Board approved one-time retention options: CEO Imran Alibhai 47,500, CMO John Kauh 17,500, CFO Dan Conn 17,500 shares.
- Options vest 25% on Dec 16, 2026, then 36 equal monthly installments.
- New Severance Plan provides cash severance, COBRA, and equity acceleration on qualifying termination with or without Change in Control.
- CEO Alibhai eligible for 18 months salary plus 150% target bonus within Change in Control period; others 12 months salary plus 100% bonus.
- Plan supersedes prior severance agreements; participation requires signed release.

## SEC filing metadata
- accession: 0001104659-25-122615
- form_type: 8-K
- ticker: TVRD
- cik: 0001346830
- company_name: Tvardi Therapeutics, Inc.
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1346830/000110465925122615/0001104659-25-122615-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1346830/000110465925122615/tm2533917d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-122615
- JSON: https://secwatch.observer/filing/0001104659-25-122615.json
- Plain text: https://secwatch.observer/filing/0001104659-25-122615.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.