[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 07/22/2025, CalciMedica (CALC) Director, 10% owner and Chief Business Officer Eric W. Roberts purchased 1,500 common shares at $3.775 via his FMTC Roth IRA, raising that account’s balance to 49,323 shares.

Post-transaction, Roberts reports beneficial ownership of roughly 1.01 million CALC shares spread across direct holdings (164,706) and several indirect vehicles, including multiple IRAs and three Valence Investments SPVs. No derivative securities were bought or sold.

The open-market buy is modest (≈0.15 % of his stake) but may signal incremental insider confidence; however, its small size limits immediate valuation impact.

Positive

• Open-market purchase by a Director/10 % owner indicates personal commitment and potential confidence in CALC’s near-term prospects.

Negative

• Purchase size is immaterial—only 1,500 shares versus ~1 M already held—limiting incremental alignment and market impact.

Insights

Financial Analyst

TL;DR: Minor insider buy; symbol of confidence but financially immaterial.

Roberts’ 1,500-share purchase adds just $5.7k to a >1 M-share position, so the economic impact is negligible. Still, insider buying—particularly by a 10 % owner who is also CBO—can be interpreted positively, suggesting management sees upside at current prices. Lack of selling and absence of derivatives point to a straightforward, low-risk signal. From a trading perspective, the event is unlikely to move the stock on its own, but may reinforce bullish sentiment if accompanied by other fundamental catalysts.

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).

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)
07/22/2025

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	07/22/2025		P		1,500	A	$3.775	49,323	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:

	/s/ John Dunn, Esq., Attorney-in-Fact	07/23/2025
	** 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 CALC shares did Eric W. Roberts buy on 07/22/2025?

He bought 1,500 common shares at $3.775 each.

What is Eric W. Roberts’ total beneficial ownership in CALC after the transaction?

He now reports ownership of approximately 1.01 million shares across direct and indirect accounts.

Did the filing include any derivative transactions?

No, no derivative securities were acquired or disposed of in this Form 4.

Why is insider buying considered a positive signal for CALC investors?

Open-market purchases often suggest management confidence in the company’s valuation and future performance.

What roles does Eric W. Roberts hold at CalciMedica?

He is a Director, 10 % Owner, and Chief Business Officer of CalciMedica.