Antonio Fernandez Santidrian - 03 Sep 2025 Form 4 Insider Report for Calidi Biotherapeutics, Inc. (CLDI)

Role: Chief Scientific Officer
Signature: /s/ Antonio Fernandez Santidrian
Issuer symbol: CLDI
Transactions as of: 03 Sep 2025
Net transactions value: $0
Form type: 4
Filing time: 05 Sep 2025, 19:56:27 UTC
Previous filing: 25 Sep 2023
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Fernandez Santidrian Antonio	Chief Scientific Officer	C/O CALIDI BIOTHERAPEUTICS, INC., 4475 EXECUTIVE DRIVE, SUITE 200, SAN DIEGO,	/s/ Antonio Fernandez Santidrian	05 Sep 2025	0001990403

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	CLDI	Stock Options (right to buy)	Award		+35,000			35,000	03 Sep 2025	Common stock	35,000	$1.58	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Pursuant to the Issuer's 2023 Equity Incentive Plan (the "2023 Plan"), on September 3, 2025 (the "Grant Date"), the Reporting Person was granted 35,000 incentive stock options (the "Options") at an exercise price of $1.58, which is equal to the closing price of the Issuer's common stock on the Grant Date. 25% of the options will vest upon the one (1) year anniversary of 9/03/2025, and the remaining 75% of the options will vest in 1/36th installments on the last day of each monthly period subject to the Reporting Person's continued service to the Issuer. The Options were granted in a transaction exempt under Rule 16b-3 to the Reporting Person.

Content

Pursuant to the Issuer's 2023 Equity Incentive Plan (the "2023 Plan"), on September 3, 2025 (the "Grant Date"), the Reporting Person was granted 35,000 incentive stock options (the "Options") at an exercise price of $1.58, which is equal to the closing price of the Issuer's common stock on the Grant Date. 25% of the options will vest upon the one (1) year anniversary of 9/03/2025, and the remaining 75% of the options will vest in 1/36th installments on the last day of each monthly period subject to the Reporting Person's continued service to the Issuer. The Options were granted in a transaction exempt under Rule 16b-3 to the Reporting Person.