William Scott Durall - 22 Jul 2025 Form 4 Insider Report for CARLSMED, INC.

Role: Chief Commercial Officer
Signature: /s/ Leonard Greenstein, as attorney-in-fact, for William Scott Durall
Issuer symbol: CARL on Nasdaq
Transactions as of: 22 Jul 2025
Net transactions value: $0
Form type: 4
Filing time: 24 Jul 2025, 20:34:46 UTC
Previous filing: 08 May 2023
Next filing: 30 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Durall William Scott	Chief Commercial Officer	C/O CARLSMED, INC., 1800 ASTON AVE., SUITE 100, CARLSBAD	/s/ Leonard Greenstein, as attorney-in-fact, for William Scott Durall	24 Jul 2025	0001818744

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	Stock Options (Right to Buy)	Award	$0	+71,429	+32%	$0.000000	296,008	22 Jul 2025	Common Stock	71,429	$15.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The unvested stock options are convertible into approximately 71,429 shares of the Issuer's common stock and will begin to vest in equal installments on each quarterly anniversary of July 22, 2025 (the "Grant Date"), such that all of the stock options will be vested on the fourth anniversary of the Grant Date, provided that the Reporting Person remains in continuous service through each applicable vesting date.

Content

The unvested stock options are convertible into approximately 71,429 shares of the Issuer's common stock and will begin to vest in equal installments on each quarterly anniversary of July 22, 2025 (the "Grant Date"), such that all of the stock options will be vested on the fourth anniversary of the Grant Date, provided that the Reporting Person remains in continuous service through each applicable vesting date.