CALC Insider Filing: 5,076-Share Purchase; 164,706-Share Disposition Reported

Rhea-AI Filing Summary

Eric W. Roberts, identified as a Director, 10% owner and Chief Business Officer of CalciMedica, Inc. (CALC), reported transactions on this Form 4 dated 08/15/2025. The filing shows an acquisition of 5,076 shares of Common Stock at a weighted-average purchase price of $2.8977 per share (price range $2.80 to $2.90). The form also reports a disposition of 164,706 shares and multiple indirect holdings held through custodians and affiliated entities including FMTC Custodian, Oppenheimer & Co. Custodian, IRA Financial Trust Company, and several Valence Investments SPVs. The filing includes a note that detailed per-price share counts are available upon request.

Positive

• Acquisition disclosed: Purchase of 5,076 shares at a reported weighted-average price of $2.8977, providing transparent pricing information
• Detailed indirect ownership: Multiple custodial and SPV holdings are explicitly disclosed, improving transparency about beneficial ownership

Negative

• Large disposition recorded: A reported disposition of 164,706 shares is noted without contextual information on total holdings or percent ownership change
• Price breakdown omitted: The filing gives a weighted-average price and range but does not list the number of shares purchased at each price without an explicit request

Insights

Financial Analyst

TL;DR: Insider bought 5,076 shares at $2.8977 and reported a large separate disposition of 164,706 shares; mixed signal, likely neutral overall.

The purchase of 5,076 shares at a sub-$3 price is explicitly recorded and appears modest relative to the listed disposition of 164,706 shares. Multiple indirect holdings are reported across custodians and affiliated SPVs, indicating a complex ownership structure. The filing provides a weighted-average price and a disclosed price range but does not break out quantities by individual price points without request. From a financial-materiality perspective the document reports activity but does not supply context such as total outstanding shares or percentage changes to fully assess market impact.

Corporate Governance Expert

TL;DR: Reporting person holds multiple indirect positions and executed both acquisition and a sizeable disposition; disclosure complies with Section 16 form requirements.

The Form 4 properly identifies the reporting person, relationship to the issuer, transaction dates, codes and the weighted-average purchase price plus a statement about price-range details. The filing shows both an acquisition and a large disposition, and lists custodial and SPV arrangements for indirect ownership, which is relevant for evaluating insider alignment and governance. The form is signed by an attorney-in-fact, consistent with permitted filing practices.

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
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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^*

Roberts Eric W

(Last) (First) (Middle)

C/O CALCIMEDICA, INC.

505 COAST BLVD. S. #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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF BUSINESS OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		P		5,076(1)	A	$2.8977	54,399	I	By FMTC Custodian - Roth IRA FBO Eric W. Roberts
Common Stock								164,706	D
Common Stock								49,894	I	By Oppenheimer & Co Inc. Custodian FBO Eric W Roberts Roth IRA
Common Stock								10,661	I	By IRA Financial Trust Company CFBO Eric W. Roberts
Common Stock								356,989	I	By Valence Investments SPV IV, LLC
Common Stock								66,228	I	By Valence Investments SPV V, LLC
Common Stock								316,109	I	By Valence Investments SPV VI, LLC

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 $2.8977, and the range of prices were between $2.80 and $2.90. 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	08/19/2025
	** 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 transaction did Eric W. Roberts report on Form 4 for CALC?

The Form 4 reports an acquisition of 5,076 shares of CalciMedica common stock on 08/15/2025 at a weighted-average price of $2.8977 per share and a separate disposition of 164,706 shares.

What is the reported purchase price range for the CALC shares bought?

The filing discloses a weighted-average purchase price of $2.8977 and a price range between $2.80 and $2.90.

How does Eric W. Roberts hold shares indirectly according to the filing?

The Form 4 lists indirect holdings via custodians and entities including FMTC Custodian - Roth IRA, Oppenheimer & Co Inc. Custodian, IRA Financial Trust Company, and several Valence Investments SPV entities.

Does the Form 4 provide per-price purchase quantities for the acquired shares?

No. The form states the weighted-average price and range and says full information on the number of shares purchased at each price will be provided upon request by the SEC staff, the issuer, or any security holder.

Who signed the Form 4 filing for Eric W. Roberts?

The filing is signed by John Dunn, Esq., Attorney-in-Fact on 08/19/2025.