[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Eric W. Roberts, Chief Business Officer, director and 10% owner of CalciMedica, Inc. (CALC), reported transactions on a Form 4. On 09/12/2025 a purchase of 5,000 shares of Common Stock was reported at $3.12 per share. The form also reports a disposition of 179,706 shares and multiple indirect holdings across custodial and SPV accounts, with a listed post-transaction beneficial ownership figure of 78,250 shares in one entry. The filing was signed by an attorney-in-fact on 09/15/2025.

Positive

• Insider purchase disclosed (5,000 shares at $3.12), showing direct ownership activity
• Comprehensive disclosure of multiple indirect holdings across custodians and SPVs

Negative

• Large disposition reported (179,706 shares), which reduces the insider's direct holdings

Insights

Financial Analyst

TL;DR: Insider reported a small direct purchase and a large disposition, leaving multiple indirect holdings; impact appears limited.

The Form 4 shows a direct purchase of 5,000 shares at $3.12 and a reported disposition of 179,706 shares. Several sizable indirect positions are disclosed across custodial Roth IRAs and multiple Valence Investments SPVs. The combination of a modest buy alongside a large disposal suggests portfolio reallocation or custodial transfers rather than a simple accumulation signal. No earnings or financing items are disclosed, so material valuation impact is likely limited based solely on this filing.

Corporate Governance Expert

TL;DR: Filing transparently discloses insider roles and multiple indirect holdings; disclosure consistency supports governance compliance.

The reporting person is identified as a director, officer (Chief Business Officer) and 10% owner, and the Form 4 lists direct and indirect ownership across custodians and SPVs. The filing appears to meet Section 16 disclosure requirements by reporting acquisitions and dispositions and providing a signature via attorney-in-fact. There are no indications of late reporting or omitted classes of securities within the form's content provided.

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)
09/12/2025

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	09/12/2025		P		5,000	A	$3.12	78,250	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:

	/s/ John Dunn, Esq., Attorney-in-Fact	09/15/2025
	** 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 a purchase of 5,000 shares of CalciMedica common stock on 09/12/2025 at $3.12 per share and a disposition of 179,706 shares.

How is Eric W. Roberts related to CalciMedica (CALC)?

He is reported as a Director, Chief Business Officer (an officer) and a 10% owner of the issuer.

What beneficial ownership is shown after the reported transactions?

One post-transaction entry lists 78,250 shares beneficially owned; additional indirect holdings are reported across custodial and SPV accounts as listed.

When was the Form 4 signed and filed?

The signature by attorney-in-fact is dated 09/15/2025; the earliest transaction date reported is 09/12/2025.

Are there indirect holdings disclosed for Eric W. Roberts in this filing?

Yes. The filing lists multiple indirect holdings including accounts at FMTC Custodian, Oppenheimer & Co., IRA Financial Trust Company, and several Valence Investments SPVs.