PHILIP M. YOUNG - 22 Jul 2025 Form 4 Insider Report for CARLSMED, INC.

Role
Director
Signature
/s/ Leonard Greenstein, as attorney-in-fact for Philip Young
Issuer symbol
CARL on Nasdaq
Transactions as of
22 Jul 2025
Net transactions value
+$899,985
Form type
4
Filing time
24 Jul 2025, 20:25:31 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
YOUNG PHILIP M Director C/O CARLSMED, INC., 1800 ASTON AVE., SUITE 100, CARLSBAD /s/ Leonard Greenstein, as attorney-in-fact for Philip Young 24 Jul 2025 0001048637

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CARL Common Stock Award $0 +17,333 $0.000000 17,333 22 Jul 2025 Direct F1, F2
transaction CARL Common Stock Conversion of derivative security +28,900 28,900 24 Jul 2025 See Footnotes F3, F4, F5
transaction CARL Common Stock Purchase $99,990 +6,666 +23% $15.00 35,566 24 Jul 2025 See Footnotes F4, F5, F6, F7
transaction CARL Common Stock Purchase $799,995 +53,333 $15.00 53,333 24 Jul 2025 See Footnotes F8, F9, F10

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CARL Series B Preferred Stock Conversion of derivative security -28,900 -100% 0 24 Jul 2025 Common Stock 28,900 See Footnotes F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Constitute an award of restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. The RSUs will vest in equal annual installments over three years.
F2 Includes 17,333 unvested restricted stock units convertible into approximately 17,333 shares of the Issuer's common stock.
F3 These securities were previously reported on a Form 3 filed by the Reporting Person as preferred stock of the Issuer. Each share of preferred stock of the Issuer converted into one share of the Issuer's common stock immediately prior to the closing of the Issuer's initial public offering on a 1-to-1 basis without payment of additional consideration. The preferred stock has no expiration date.
F4 Stock held by PMY Partners LP.
F5 Reporting Person is the sole general partner of PMY Partners L.P. and has voting and dispositive power over the stock held by PMY Partners L.P.
F6 Includes 6,666 shares of the Issuer's common stock purchased by PMY Partners L.P. in the Issuer's initial public offering at the public offering price of $15.00 per share. The purchase was made directly from the underwriters in connection with the offering.
F7 (7) Includes (i) 6,666 shares of the Issuer's common stock purchased by PMY Partners L.P. in the Issuer's initial public offering at the public offering price of $15.00 per share, and (ii) 28,900 shares of common stock issued to PMY Partners L.P. upon the conversion of outstanding preferred stock on a 1-to-1 basis, immediately prior to the closing of the Issuer's public offering.
F8 Includes 53,333 shares of the Issuer's common stock purchased by the Young Family Trust dtd 04/13/1998 Nancy Halsey Young & Philip Young, Trustees (the "Trust") in the Issuer's initial public offering at the public offering price of $15.00 per share. The purchase was made directly from the underwriters in connection with the offering.
F9 Stock held by the Trust.
F10 Reporting Person is a trustee of the Trust and has voting and dispositive power over the stock held by the Trust.