[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica, Inc. (CALC) – Form 4 insider filing dated 26 June 2025

The filing discloses that director Allan Shaw received four separate option grants covering an aggregate 54,844 shares of common stock on 24 June 2025. Three grants, totaling 44,844 options, carry an exercise price of $1.53 and expire on 22 April 2035. A fourth grant of 10,000 options has an exercise price of $1.65 and expires on 23 June 2035.

The awards were approved by the Board on 23 April 2025, but were contingent upon shareholder approval of an amendment to the company’s 2023 Equity Incentive Plan. That amendment was ratified on 24 June 2025, making the options effective the same day.

Vesting schedules are as follows:

• 10,000 options (Grant #1): 1/12 monthly over one year beginning 26 March 2025.
• 8,594 options (Grant #2): fully exercisable immediately.
• 26,250 options (Grant #3): 1/9 monthly over one year beginning 1 April 2025.
• 10,000 options (Grant #4): 1/12 monthly over one year beginning 24 June 2025; fully vested no later than the 2026 annual meeting.

No purchases or sales of already-outstanding common shares were reported, and all securities remain held directly by the reporting person. The filing is a routine incentive-compensation disclosure and does not indicate any change in the director’s ownership of non-derivative equity.

Insights

Financial Analyst

TL;DR – Routine option grants; no cash outlay; neutral signal.

The Form 4 shows standard, board-approved equity incentives rather than open-market activity. Total options (54,844) equate to a modest slice of CALC’s float and carry low exercise prices roughly aligned with recent trading levels, implying minimal immediate dilution risk. Because the grants vest over one year (some immediately), they strengthen alignment without affecting near-term cash flow or signaling insider sentiment via purchase/sale. For valuation, these options are already contemplated under GAAP share-based-compensation expense and thus have negligible incremental impact. Overall market effect: neutral.

Corporate Governance Expert

TL;DR – Board- and shareholder-approved equity plan; governance compliant.

The options were contingent upon shareholder approval of the amended 2023 Equity Incentive Plan, demonstrating adherence to good governance practices. Vesting schedules promote ongoing engagement, and a 10b5-1 plan checkbox is present, offering potential affirmative-defense coverage. No red flags regarding excessive compensation or undisclosed arrangements appear. Hence, from a governance standpoint, the filing is routine and poses no material concern.

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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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^*

Shaw Allan

(Last) (First) (Middle)

C/O CALCIMEDICA, INC.

505 COAST S. BLVD. #202

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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

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
Director Stock Option (Right to Buy)	$1.53	06/24/2025(1)		A		10,000		(2)	04/22/2035	Common Stock	10,000	$0	10,000	D
Director Stock Option (Right to Buy)	$1.53	06/24/2025(1)		A		8,594		(3)	04/22/2035	Common Stock	8,594	$0	8,594	D
Director Stock Option (Right to Buy)	$1.53	06/24/2025(1)		A		26,250		(4)	04/22/2035	Common Stock	26,250	$0	26,250	D
Director Stock Option (Right to Buy)	$1.65	06/24/2025		A		10,000		(5)	06/23/2035	Common Stock	10,000	$0	10,000	D

Explanation of Responses:

1. The option grant was approved by the Board of Directors of CalciMedica, Inc. (the "Company") on April 23, 2025, subject to stockholder approval of an amendment of the Company's 2023 Equity Incentive Plan (the "Amended 2023 EIP") under which the option was granted. The Company's stockholders approved the Amended 2023 EIP on June 24, 2025.

2. 1/12th of the shares subject to the option vest in equal monthly installments over a one year period following March 26, 2025.

3. Immediately exercisable.

4. 1/9th of the shares subject to the option vest in equal monthly installments over a one year period following April 1, 2025.

5. 1/12th of the shares subject to the option vest in equal monthly installments over a one year period following June 24, 2025, provided that the shares will in any case be fully vested on the date of Company's 2026 annual meeting of stockholders.

	/s/ John Dunn, Attorney-in-Fact	06/26/2025
	** 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

How many CalciMedica (CALC) options were granted to Director Allan Shaw?

54,844 options were granted across four separate awards on 24 June 2025.

What are the exercise prices of the new CALC options?

Three grants are priced at $1.53; one grant for 10,000 options is priced at $1.65.

When do the newly granted CALC options expire?

Options priced at $1.53 expire on 22 Apr 2035; the $1.65 grant expires on 23 Jun 2035.

Did shareholders approve the equity plan covering these option grants?

Yes. CALC shareholders approved the amended 2023 Equity Incentive Plan on 24 June 2025.

What vesting schedule applies to the 26,250-share option grant?

It vests 1/9 monthly over one year starting 1 April 2025.