Tvardi Therapeutics (TVRD) CFO awarded 45,000 long-term stock options

Rhea-AI Filing Summary

Tvardi Therapeutics, Inc. reported that its Chief Financial Officer, Avi Daniel Conn, received an employee stock option grant on January 29, 2026. The award covers 45,000 options to buy common stock at an exercise price of $3.90 per share, expiring January 29, 2036.

The options vest in equal monthly installments over 48 months, starting January 29, 2026, as long as Conn remains in continuous service through each vesting date. Following this grant, Conn holds 45,000 derivative securities directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Conn Avi Daniel

(Last) (First) (Middle)

C/O TVARDI THERAPEUTICS, INC.

3 SUGAR CREEK CTR BLVD, STE 525

(Street)

SUGAR LAND TX 77478

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Tvardi Therapeutics, Inc. [ TVRD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$3.9	01/29/2026		A		45,000		(1)	01/29/2036	Common Stock	45,000	$0	45,000	D

Explanation of Responses:

1. 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.

	/s/ Dan Conn	02/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What insider transaction did Tvardi Therapeutics (TVRD) report for its CFO?

The company reported an employee stock option grant to Chief Financial Officer Avi Daniel Conn. He received 45,000 options to purchase Tvardi common stock, recorded as a derivative security transaction on January 29, 2026.

What are the key terms of the Tvardi (TVRD) CFO’s 45,000 stock options?

The CFO’s option grant covers 45,000 shares of common stock at an exercise price of $3.90 per share, with an expiration date of January 29, 2036, giving a long-dated incentive tied to Tvardi’s equity.

How do the Tvardi (TVRD) CFO’s options vest over time?

The options vest in equal monthly installments over 48 months, beginning on January 29, 2026. Vesting requires the CFO’s continuous service with the company through each applicable monthly vesting date.

How many Tvardi (TVRD) derivative securities does the CFO own after this grant?

After this transaction, the CFO beneficially owns 45,000 derivative securities, all reported as held directly. These represent options that are exercisable into Tvardi common stock under the grant’s terms.

What type of security was involved in the Tvardi (TVRD) Form 4 filing?

The filing involves an Employee Stock Option (right to buy) derivative security. Each option corresponds to one share of Tvardi common stock, subject to the grant’s exercise price, vesting schedule, and expiration date.

What transaction code is used for the Tvardi (TVRD) CFO’s option grant?

The transaction is coded as “A”, indicating an acquisition of derivative securities. This code reflects the award of 45,000 stock options to the CFO rather than a market purchase or sale.