Richard Heppenstall - 28 Sep 2026 Form 4 Insider Report for CARLSMED, INC. (CARL)

Reporting relationship: CFO, Treasurer
Issuer ticker: CARL
Reported as of: 28 Sep 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 30 Sep 2026, 19:37:40 UTC
Prior SEC filing: 20 Oct 2025
Source filing: View source filing
Reporting owner signature: /s/ Michael Cordonnier, as attorney-in-fact, for Richard Heppenstall

Key filing fact

Richard Heppenstall filed Form 4 for CARLSMED, INC. (CARL) on 30 Sep 2026.

Key facts

This page summarizes Richard Heppenstall's Form 4 filing for CARLSMED, INC. (CARL).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 30 Sep 2026, 19:37.

Change

Previous filing in this sequence was filed on 20 Oct 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001909313 Primary reporting owner

Heppenstall Richard

Relationship: CFO, Treasurer
Address: C/O CARLSMED, INC., 1800 ASTON AVE., SUITE 100, CARLSBAD
Signature: /s/ Michael Cordonnier, as attorney-in-fact, for Richard Heppenstall
Signature date: 30 Sep 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CARL transaction

Common Stock

Award

Transaction value
Shares: +89,286
Change %
Price: $0.000000^*
Shares after: 89,286
Date: 28 Sep 2026
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CARL transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value
Shares: +180,137
Change %
Price: $0.000000^*
Shares after: 180,137
Date: 28 Sep 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 180,137
Exercise price: $14.18
Footnotes: F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

Each restricted stock unit ("RSU") represents a contingent right to receive one (1) share of the Issuer's Common Stock . The RSUs will vest in three equal annual installments beginning on the first anniversary of the grant date, September 28, 2026, subject to the Reporting Person's continued service through each such vesting date.

Footnote F2

Includes 180,137 unvested stock options exercisable into approximately 180,137 shares of the Issuer's Common Stock. 25% of the stock options will vest upon the one year anniversary of the grant date, September 28, 2026, and the remaining 75% of the stock options will vest in 1/12th installments on a quarterly basis thereafter, subject to the Reporting Person's continued service through each such vesting date.