[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica insider purchase reported: The company's Chief Medical Officer, Sudarshan Hebbar, reported buying 9,563 shares of CalciMedica, Inc. (ticker: CALC) on 08/19/2025 at a weighted average purchase price of $2.8194, with individual trade prices ranging from $2.74 to $2.86. After the transaction, the reporting person beneficially owned 61,539 shares held directly. The Form 4 was signed by an attorney-in-fact on 08/21/2025 and discloses that breakdowns by price per lot are available upon SEC staff request.

Positive

• Insider purchase disclosed: Chief Medical Officer acquired 9,563 shares, a demonstrated insider buy.
• Transparent pricing disclosure: Weighted average price $2.8194 with range $2.74–$2.86 and per-lot data available on request.
• Updated beneficial ownership: Reporting person now directly owns 61,539 shares, disclosed on Form 4.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchased a modest number of shares at ~$2.82, increasing direct holdings to 61,539 shares.

The reported open-market purchase of 9,563 shares at a weighted average price of $2.8194 is a clear, explicit disclosure of an insider buy. The purchase size relative to total outstanding shares is not provided, so materiality to valuation cannot be assessed from this filing alone. The price range of $2.74 to $2.86 indicates the trades occurred within a narrow spread, suggesting routine open-market activity rather than a block trade or private placement. The filing is properly executed and provides availability of per-lot price details on request.

Corporate Governance Expert

TL;DR: Filing documents a standard Section 16 insider purchase by an officer, fully reported and signed.

This Form 4 shows compliance with Section 16 reporting: the Chief Medical Officer reported acquisition activity and updated beneficial ownership to 61,539 shares. The form includes the required explanation about weighted-average price and price range and is signed by an attorney-in-fact. No derivative transactions, dispositions, or 10b5-1 plan flags are indicated. Without additional context on outstanding share count or subsequent filings, governance implications are limited to confirming timely disclosure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hebbar Sudarshan

(Last) (First) (Middle)

C/O CALCIMEDICA, INC.

505 COAST S. BLVD. #307

(Street)

LA JOLLA CA 92037

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CalciMedica, Inc. [ CALC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Medical Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/19/2025		P		9,563	A	$2.8194(1)	61,539	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The weighted average purchase price for the transaction reported was $2.8194, and the range of prices were between $2.74 and $2.86. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares purchased at each separate price will be provided.

	/s/ John Dunn, Esq., Attorney-in-Fact	08/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did CalciMedica (CALC) insider Sudarshan Hebbar disclose on Form 4?

The Chief Medical Officer reported acquiring 9,563 shares on 08/19/2025 at a weighted average price of $2.8194, raising direct beneficial ownership to 61,539 shares.

What price did the insider pay per share in the CALC Form 4 filing?

The weighted average purchase price was $2.8194, with individual transaction prices ranging from $2.74 to $2.86.

Does the Form 4 show any derivative transactions or dispositions for CALC?

No. The Form 4 lists a non-derivative acquisition of common stock and does not report any derivative transactions or dispositions.

When was the Form 4 for CALC signed and by whom?

The filing bears a signature executed by John Dunn, Esq., Attorney-in-Fact on 08/21/2025.

Is detailed per-lot pricing for the CALC purchase available?

Yes. The filing states that full information regarding the number of shares purchased at each separate price will be provided upon request by the SEC staff, the Issuer, or any security holder.