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Insider transactions

EDGAR

TVARDI THERAPEUTICS, INC.

Transactions reported by directors, officers and 10% owners on SEC Forms 3, 4 and 5, read from each filing’s XML. Codes and their wording are the SEC’s own.

A Form 4 is due within two business days of the transaction, so the most recent trades may not be filed yet.

Window: transactions dated on or after 2025-11-15.

Open-market purchases (code P): 0 transactions, — shares
Open-market sales (code S): 0 transactions, — shares

Totals add the filed transactions listed; they are counts of what was reported, not a measure of direction.

Showing 1–13 of 13

Insider transactions, newest first, as filed on SEC Forms 3, 4 and 5
Date	Reporting owner	Code	Acquired or disposed	Shares	Value (derived)	Shares owned after	Direct or indirect	Rule 10b5-1 box	Notes	Source
2026-06-09 Filed 2026-06-11	Shiff Susan Ph.D. Director	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Stock Option (right to buy) — underlying Common Stock (6,000) — exercise price 2.78	Acquired (A)	6,000	—	6,000	Direct (D)	No	F1 F1 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.	Open filing 0001811463-26-000002 Read from the filing’s XML Dispute this row
2026-06-09 Filed 2026-06-11	WYZGA MICHAEL S Director	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Stock Option (right to buy) — underlying Common Stock (6,000) — exercise price 2.78	Acquired (A)	6,000	—	6,000	Direct (D)	No	F1 F1 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.	Open filing 0001201256-26-000003 Read from the filing’s XML Dispute this row
2026-06-09 Filed 2026-06-11	Shah Sujal Director	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Stock Option (right to buy) — underlying Common Stock (6,000) — exercise price 2.78	Acquired (A)	6,000	—	6,000	Direct (D)	No	F1 F1 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.	Open filing 0001588861-26-000002 Read from the filing’s XML Dispute this row
2026-06-09 Filed 2026-06-11	Smith Cynthia Director	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Stock Option (right to buy) — underlying Common Stock (6,000) — exercise price 2.78	Acquired (A)	6,000	—	6,000	Direct (D)	No	F1 F1 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.	Open filing 0001609480-26-000002 Read from the filing’s XML Dispute this row
2026-06-09 Filed 2026-06-11	HALL WALLACE L JR Director	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Stock Option (right to buy) — underlying Common Stock (6,000) — exercise price 2.78	Acquired (A)	6,000	—	6,000	Direct (D)	No	F1 F1 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.	Open filing 0001762801-26-000002 Read from the filing’s XML Dispute this row
2026-01-29 Filed 2026-02-02	Conn Avi Daniel Officer: Chief Financial Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (45,000) — exercise price 3.90	Acquired (A)	45,000	—	45,000	Direct (D)	No	F1 F1 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.	Open filing 0002064982-26-000002 Read from the filing’s XML Dispute this row
2026-01-29 Filed 2026-02-02	Alibhai Imran Nizamudin Director · Officer: Chief Executive Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (115,000) — exercise price 3.90	Acquired (A)	115,000	—	115,000	Direct (D)	No	F1 F1 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.	Open filing 0002064884-26-000002 Read from the filing’s XML Dispute this row
2026-01-29 Filed 2026-02-02	O'Brien Stephen Paul Officer: Principal Accounting Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (15,000) — exercise price 3.90	Acquired (A)	15,000	—	15,000	Direct (D)	No	F1 F1 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.	Open filing 0002064889-26-000002 Read from the filing’s XML Dispute this row
2026-01-29 Filed 2026-02-02	Kauh John Saewook M.D. Officer: Chief Medical Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (45,000) — exercise price 3.90	Acquired (A)	45,000	—	45,000	Direct (D)	No	F1 F1 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.	Open filing 0002064881-26-000002 Read from the filing’s XML Dispute this row
2025-12-16 Filed 2025-12-18	Alibhai Imran Nizamudin Director · Officer: Chief Executive Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (47,500) — exercise price 4.20	Acquired (A)	47,500	—	47,500	Direct (D)	No	F1 F1 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.	Open filing 0002064884-25-000003 Read from the filing’s XML Dispute this row
2025-12-16 Filed 2025-12-18	Conn Avi Daniel Officer: Chief Financial Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (17,500) — exercise price 4.20	Acquired (A)	17,500	—	17,500	Direct (D)	No	F1 F1 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.	Open filing 0002064982-25-000003 Read from the filing’s XML Dispute this row
2025-12-16 Filed 2025-12-18	Kauh John Saewook M.D. Officer: Chief Medical Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (17,500) — exercise price 4.20	Acquired (A)	17,500	—	17,500	Direct (D)	No	F1 F1 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.	Open filing 0002064881-25-000003 Read from the filing’s XML Dispute this row
2025-12-16 Filed 2025-12-18	O'Brien Stephen Paul Officer: Principal Accounting Officer	A Grant, award or other acquisition pursuant to Rule 16b-3(d) Derivative security: Employee Stock Option (right to buy) — underlying Common Stock (4,000) — exercise price 4.20	Acquired (A)	4,000	—	4,000	Direct (D)	No	F1 F1 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.	Open filing 0002064889-25-000003 Read from the filing’s XML Dispute this row

Institutional holders (Form 13F)

Quarter ending 2026-09-30: 7,211 filings read, the latest filed 2026-11-13. Prior quarter ending 2026-06-30: 9,150 filings read.

Showing 1–46 of 46

Institutional holders, largest position first, as filed
Manager	Shares or principal	Value as filed	Change from the prior quarter	Source
VANGUARD CAPITAL MANAGEMENT LLC	344,382 SH	430,478 dollars	Unchanged Prior quarter: 344,382	Open filing 0002100119-26-001711 Filed 2026-11-13 Dispute this row
RAYMOND JAMES FINANCIAL INC Partly reported under another manager	278,571 SH	348,214 dollars	Not in the prior quarter’s filings read	Open filing 0000720005-26-000081 Filed 2026-11-12 Dispute this row
AMERICAN FINANCIAL GROUP INC Partly reported under another manager	223,659 SH	279,574 dollars	Unchanged Prior quarter: 223,659	Open filing 0001042046-26-000037 Filed 2026-11-12 Dispute this row
JPMORGAN CHASE CO Partly reported under another manager	202,473 SH	259,165 dollars	Higher by 202,347 Prior quarter: 126	Open filing 0000019617-26-000404 Filed 2026-11-12 Dispute this row
CAPTRUST FINANCIAL ADVISORS	200,500 SH	250,625 dollars	Not in the prior quarter’s filings read	Open filing 0001062993-26-005930 Filed 2026-11-12 Dispute this row
RENAISSANCE TECHNOLOGIES LLC Partly reported under another manager	134,142 SH	167,678 dollars	Higher by 42,733 Prior quarter: 91,409	Open filing 0001037389-26-000062 Filed 2026-11-12 Dispute this row
GEODE CAPITAL MANAGEMENT, LLC Partly reported under another manager	120,642 SH	150,853 dollars	Higher by 30,292 Prior quarter: 90,350	Open filing 0001214717-26-000012 Filed 2026-11-06 Dispute this row
BlackRock, Inc. Partly reported under another manager	95,297 SH	119,122 dollars	Lower by 181 Prior quarter: 95,478	Open filing 0002012383-26-003985 Filed 2026-11-13 Dispute this row
Verition Fund Management LLC	87,000 SH	108,750 dollars	Not in the prior quarter’s filings read	Open filing 0001454027-26-000007 Filed 2026-11-13 Dispute this row
MORGAN STANLEY Partly reported under another manager	78,954 SH	98,693 dollars	Higher by 1,109 Prior quarter: 77,845	Open filing 0000895421-26-000309 Filed 2026-11-13 Dispute this row
VANGUARD FIDUCIARY TRUST CO	72,032 SH	90,040 dollars	Higher by 27,322 Prior quarter: 44,710	Open filing 0000933478-26-000017 Filed 2026-11-13 Dispute this row
Duncan Williams Asset Management, LLC	63,241 SH	79,051 dollars	Unchanged Prior quarter: 63,241	Open filing 0001765380-26-000477 Filed 2026-11-12 Dispute this row
HRT FINANCIAL LP	48,853 SH	61 dollars	Not in the prior quarter’s filings read	Open filing 0001475597-26-000249 Filed 2026-11-13 Dispute this row
LPL Financial LLC	39,610 SH	49,513 dollars	Not in the prior quarter’s filings read	Open filing 0001403438-26-000005 Filed 2026-11-06 Dispute this row
STATE STREET CORP Partly reported under another manager	33,900 SH	42,375 dollars	Unchanged Prior quarter: 33,900	Open filing 0000093751-26-000747 Filed 2026-11-12 Dispute this row
Arax Advisory Partners Partly reported under another manager	29,350 SH	36,688 dollars	Higher by 18,347 Prior quarter: 11,003	Open filing 0001586767-26-000009 Filed 2026-11-12 Dispute this row
NewEdge Advisors, LLC	21,513 SH	26,891 dollars	Not in the prior quarter’s filings read	Open filing 0001213900-26-119695 Filed 2026-11-13 Dispute this row
Brookstone Capital Management	12,764 SH	15,955 dollars	Not in the prior quarter’s filings read	Open filing 0001062993-26-005489 Filed 2026-10-22 Dispute this row
Persistent Asset Partners Ltd	12,329 SH	15,411 dollars	Higher by 8,076 Prior quarter: 4,253	Open filing 0002056052-26-000005 Filed 2026-11-13 Dispute this row
Kestra Advisory Services, LLC	10,044 SH	12,555 dollars	Not in the prior quarter’s filings read	Open filing 0001830819-26-000011 Filed 2026-11-02 Dispute this row
Russell Investments Group, Ltd. Partly reported under another manager	7,980 SH	9,975 dollars	Lower by 35,248 Prior quarter: 43,228	Open filing 0001193125-26-451241 Filed 2026-11-06 Dispute this row
Vanguard Global Advisers, LLC	3,400 SH	4,250 dollars	Unchanged Prior quarter: 3,400	Open filing 0001811242-26-000017 Filed 2026-11-13 Dispute this row
Caitong International Asset Management Co., Ltd	1,228 SH	1,535 dollars	Not in the prior quarter’s filings read	Open filing 0001628280-26-068135 Filed 2026-10-29 Dispute this row
US BANCORP \DE\ Partly reported under another manager	1,000 SH	1,250 dollars	Not in the prior quarter’s filings read	Open filing 0000036104-26-000059 Filed 2026-11-05 Dispute this row
Farther Finance Advisors, LLC	1,000 SH	1,250 dollars	Higher by 984 Prior quarter: 16	Open filing 0001992825-26-000006 Filed 2026-10-08 Dispute this row
Fortitude Family Office, LLC Partly reported under another manager	403 SH	504 dollars	Not in the prior quarter’s filings read	Open filing 0001950506-26-000006 Filed 2026-10-14 Dispute this row
GROUP ONE TRADING LLC	214 SH	268 dollars	Unchanged Prior quarter: 214	Open filing 0000932540-26-000017 Filed 2026-11-10 Dispute this row
SIMPLEX TRADING, LLC Option: Call	200 SH	250 dollars	Not in the prior quarter’s filings read	Open filing 0001488542-26-000013 Filed 2026-11-04 Dispute this row
BNP PARIBAS FINANCIAL MARKETS Partly reported under another manager	196 SH	245 dollars	Lower by 43 Prior quarter: 239	Open filing 0001166588-26-000012 Filed 2026-11-12 Dispute this row
Allworth Financial LP	158 SH	301 dollars	Unchanged Prior quarter: 158	Open filing 0001140361-26-042358 Filed 2026-11-06 Dispute this row
SIMPLEX TRADING, LLC Option: Put	100 SH	125 dollars	Not in the prior quarter’s filings read	Open filing 0001488542-26-000013 Filed 2026-11-04 Dispute this row
UBS Group AG Partly reported under another manager	48 SH	60 dollars	Lower by 111,085 Prior quarter: 111,133	Open filing 0001610520-26-000121 Filed 2026-11-10 Dispute this row
JONES FINANCIAL COMPANIES LLLP Partly reported under another manager	46 SH	58 dollars	Higher by 19 Prior quarter: 27	Open filing 0001193125-26-459442 Filed 2026-11-13 Dispute this row
OSAIC HOLDINGS, INC. Partly reported under another manager	37 SH	46 dollars	Higher by 13 Prior quarter: 24	Open filing 0001677044-26-000011 Filed 2026-11-12 Dispute this row
SIMPLEX TRADING, LLC	36 SH	45 dollars	Not in the prior quarter’s filings read	Open filing 0001488542-26-000013 Filed 2026-11-04 Dispute this row
PNC Financial Services Group, Inc. Partly reported under another manager	17 SH	21 dollars	Lower by 3,501 Prior quarter: 3,518	Open filing 0001193125-26-450808 Filed 2026-11-06 Dispute this row
Leonteq Securities AG	12 SH	15 dollars	Unchanged Prior quarter: 12	Open filing 0001535950-26-000048 Filed 2026-10-29 Dispute this row
CITIGROUP INC Partly reported under another manager	10 SH	13 dollars	Higher by 9 Prior quarter: 1	Open filing 0000831001-26-000052 Filed 2026-11-04 Dispute this row
HARBOUR INVESTMENTS, INC.	9 SH	11 dollars	Lower by 6 Prior quarter: 15	Open filing 0000810121-26-000006 Filed 2026-11-09 Dispute this row
Nova Financial LLC	8 SH	10 dollars	Not in the prior quarter’s filings read	Open filing 0002158449-26-000001 Filed 2026-11-04 Dispute this row
BERTHEL, FISHER COMPANY FINANCIAL SERVICES, INC.	6 SH	8 dollars	Not in the prior quarter’s filings read	Open filing 0001420506-26-002641 Filed 2026-11-13 Dispute this row
IFP Advisors, Inc Partly reported under another manager	4 SH	5 dollars	Lower by 2 Prior quarter: 6	Open filing 0001641866-26-000005 Filed 2026-10-16 Dispute this row
SBI Securities Co., Ltd.	3 SH	4 dollars	Unchanged Prior quarter: 3	Open filing 0001851815-26-000004 Filed 2026-10-22 Dispute this row
Larson Financial Group LLC	2 SH	3 dollars	Unchanged Prior quarter: 2	Open filing 0001104659-26-123219 Filed 2026-11-05 Dispute this row
FIFTH THIRD BANCORP Partly reported under another manager	1 SH	1 dollars	Unchanged Prior quarter: 1	Open filing 0001193125-26-449610 Filed 2026-11-05 Dispute this row
Harborfront Financial Group LLC	1 SH	54 dollars	Not in the prior quarter’s filings read	Open filing 0001420506-26-002573 Filed 2026-11-12 Dispute this row

Managers in the prior quarter with no filing read for the latest

They may simply not have filed yet: absent from the latest quarter’s filings read is not the same as a position sold.

Slate Path Capital LP 704,118 SH
SILVERCREST ASSET MANAGEMENT GROUP LLC 101,034 SH
SUSQUEHANNA INTERNATIONAL GROUP, LLP 33,165 SH
AQR CAPITAL MANAGEMENT LLC 27,096 SH
NORTHERN TRUST CORP 21,836 SH
Savant Capital, LLC 19,462 SH
GSA CAPITAL PARTNERS LLP 17,885 SH
DIADEMA PARTNERS LP 16,607 SH
XTX Topco Ltd 14,868 SH
BROWN ADVISORY INC 11,200 SH
Qube Research Technologies Ltd 10,210 SH
Tower Research Capital LLC (TRC) 3,275 SH
FMR LLC 1,293 SH
WELLS FARGO COMPANY/MN 1,275 SH
MERCER GLOBAL ADVISORS INC /ADV 753 SH
BARCLAYS PLC 565 SH
ROYAL BANK OF CANADA 466 SH
TD PRIVATE CLIENT WEALTH LLC 149 SH
NISA INVESTMENT ADVISORS, LLC 85 SH
Integrated Wealth Concepts LLC 61 SH
EverSource Wealth Advisors, LLC 46 SH
GAMMA Investing LLC 40 SH
LRI Investments, LLC 27 SH
ROTHSCHILD INVESTMENT LLC 9 SH
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 6 SH
Truvestments Capital LLC 4 SH
True Wealth Design, LLC 2 SH
SJS Investment Consulting Inc. 1 SH
Axiom Investment Management LLC 1 SH
Front Row Advisors LLC 1 SH

Form 13F covers long positions in Section 13(f) securities only: no short positions and no securities outside that list.
A manager that has not yet filed for the latest quarter is absent, not at zero; filings are due up to 45 days after quarter end.
A change is the difference between two quarter-end snapshots, not a trade.
A position reported under another manager may also appear in that manager’s filing; rows are not added together.
Holdings the securities list cannot place with this company, or places ambiguously, are not shown.

5% holders (Schedule 13D and 13G)

Schedules filed in the SEC’s structured format (late 2024 onward) are read here. Earlier schedules are free text and are not read.

5% holders, newest event first, as filed
Holder	Percent of class	Shares held	Event date	Form	Source
Ronald A. DePinho Common Stock, par value $0.001 per share	4.5	426,190.00	12/31/2025 Filed 2026-02-17	SCHEDULE 13G/AAmendment 2	Open filing 0001486420-26-000003 Dispute this row
Ronald A. DePinho Common Stock, par value $0.001 per share	6.7	626,190.00	09/30/2025 Filed 2025-11-14	SCHEDULE 13G/AAmendment 1	Open filing 0001486420-25-000007 Dispute this row
Samuel D. Tweardy Common Stock, par value $0.001 per share	3.4	315,658.00	07/07/2025 Filed 2025-08-05	SCHEDULE 13G/AAmendment 1	Open filing 0001415889-25-021104 Dispute this row
Slate Path Capital LP Common stock, par value $0.001 per share	7.5	704,118.00	06/30/2025 Filed 2025-08-14	SCHEDULE 13G	Open filing 0000902664-25-003656 Dispute this row
David Greenspan Common stock, par value $0.001 per share	7.5	704,118.00	06/30/2025 Filed 2025-08-14	SCHEDULE 13G	Open filing 0000902664-25-003656 Dispute this row
Sporos Bioventures LLC Common Stock, par value $0.001 per share	8.95	837,636	04/15/2025 Filed 2025-08-08	SCHEDULE 13G	Open filing 0000950170-25-105905 Dispute this row

Percent is of the class the filing names, as the holder stated it. Members of a group each report the group’s shares, so rows are not added together.

What was read

2,024,280 filings read, dated 2004-06-14 to 2026-11-13: Forms 3, 3/A, 4, 4/A, 5, 5/A.

Years can be incomplete while the archive is still being read. A year with few filings here is not a statement that few were made.

Filings read, by filing year
Filing year	Filings read
2015	1
2016	204,322
2017	202,494
2018	202,048
2019	193,638
2020	144,184
2021	224,474
2022	40,015
2023	199,811
2024	117,969
2025	235,520
2026	254,026

Filings made before the SEC required XML are listed, not extracted.

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