CALC insider trades: Roberts buys 10,000 shares, reports large disposition

Rhea-AI Filing Summary

CalciMedica insider activity: Eric W. Roberts, listed as Chief Business Officer, Director and a 10% owner, reported purchases of common stock on 08/28/2025 and 08/29/2025 totaling 10,000 shares acquired (9,200 at a weighted-average price of $2.863 and 800 at $2.74). The filing lists multiple indirect beneficial holdings across custodians and vehicles, including positions held by FMTC Custodian - Roth IRA, Oppenheimer & Co. Custodian, IRA Financial Trust Company, Valence Investments SPV IV/V/VI, and others, with several large indirect balances reported. The form also shows a disposition of 179,706 shares. The filer certified the report via attorney-in-fact signature on 09/02/2025.

Insights

Financial Analyst

TL;DR: Insider bought 10,000 shares at ~$2.86 and sold 179,706 shares; multiple indirect holdings suggest complex ownership structure.

The 10,000-share purchase is a modest insider buy at prices between $2.74 and $2.92, representing a small incremental position relative to the large reported indirect holdings. The disclosed 179,706-share disposition is material in absolute terms and may meaningfully reduce the reporter's direct stake. Multiple custodians and SPV vehicles complicate the ownership picture, indicating holdings are spread across accounts and investment vehicles rather than a single direct stake. For investors, these movements are factual disclosures without commentary on intent or strategy.

Corporate Governance Expert

TL;DR: Routine Section 16 reporting documents purchases and a large disposition; governance implications stem from ownership fragmentation across custodians.

The Form 4 provides required transparency on changes in beneficial ownership by a named officer/director. The mix of direct and indirect ownership through IRAs, custodians, and SPVs suggests estate planning or investment structuring rather than concentrated voting control. The large reported disposition should be monitored for any related party transactions or transfers, but the filing contains no additional governance disclosures or explanations.

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)
08/28/2025

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	08/28/2025		P		9,200	A	$2.863(1)	70,107	I	By FMTC Custodian - Roth IRA FBO Eric W. Roberts
Common Stock	08/29/2025		P		800	A	$2.74	70,907	I	By FMTC Custodian - Roth IRA FBO Eric W. Roberts
Common Stock								179,706	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 $2.8630, and the range of prices were between $2.75 and $2.92. 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	09/02/2025
	** 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 insider transactions did Eric W. Roberts report on Form 4 for CALC?

The filing reports purchases of 9,200 shares on 08/28/2025 at a weighted-average price of $2.863 and 800 shares on 08/29/2025 at $2.74, and a reported disposition of 179,706 shares.

How much did the insider pay per share for the recent CALC purchases?

The weighted-average price for the 08/28/2025 purchases was $2.863, with individual prices ranging between $2.75 and $2.92; the 08/29/2025 purchase was $2.74.

What types of accounts hold Eric W. Roberts' indirect CALC holdings?

Indirect holdings are reported through custodians and vehicles including FMTC Custodian - Roth IRA, Oppenheimer & Co. Custodian, IRA Financial Trust Company, and Valence Investments SPV IV/V/VI.

When was the Form 4 signed and filed?

The filing shows an attorney-in-fact signature dated 09/02/2025 certifying the reported transactions.

Does the Form 4 explain the reason for the large 179,706-share disposition?

No. The Form 4 lists the disposition amount but does not provide an explanation for the sale or transfer.