Short answers, pulled from the story.
The Thermidorian Reaction began on the 27th of July 1794 when Jean-Lambert Tallien shouted for the arrest of Maximilien Robespierre. The National Convention voted to arrest him while his allies failed to support him during the debate.
Robespierre lay wounded with a broken jaw possibly from a self-inflicted shot before being executed that same day. He died alongside twenty-one associates including Georges Couthon and François Hanriot as Convention troops breached the defenses at the Hôtel de Ville.
On the 24th of December 1794 the Maximum price controls were officially abolished which removed restrictions on wages and goods across France. This decision exacerbated inflation because the government issued more assignats paper currency instead of stabilizing the economy.
The Directory government assumed power on the 2nd of November 1795 following the dissolution of the Convention on the 25th of October. This executive body consisted of five men who governed France until 1799 after Napoleon Bonaparte suppressed a Royalist revolt on the 5th of October 1795.
Historians use the term Thermidor to describe moments when radical leadership loses control during revolutions such as Joseph Stalin's rise in Soviet Russia. Leon Trotsky applied this concept to argue that Stalin's consolidation of power represented a counterrevolutionary regression similar to the swing back toward pre-revolutionary states.