Tvardi Therapeutics, Inc. — Director's Dealing 2021

Feb 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Cara Therapeutics, Inc. (CARA)
CIK: 0001346830
Period of Report: 2021-02-23

Reporting Person: Menzaghi Frederique Ph.D. (Chief Scientific Off,SVP-R&D)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-23	Common Stock	A	8000	$0.00	Acquired	117680	Direct
2021-02-25	Common Stock	S	5003	$19.33	Disposed	112677	Direct

Footnotes

F1: Represents the number of shares that vested under a performance-based restricted stock unit award (the "RSU") based on the Issuer's satisfaction of certain performance criteria of the award. In light of the performance-based vesting conditions of the award, such shares were not reportable under Section 16 until vesting was determined, which occurred on February 23, 2021. The vested shares represents the last possible vesting event of the total number of shares subject to the award.

F2: This sale was effected pursuant to a "sell to cover" arrangement adopted by the Reporting Person in accordance with Rule 10b5-1 on September 6, 2018 to satisfy the tax withholding obligations triggered by the vesting of RSUs, and does not represent a discretionary trade by the Reporting Person.