[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica insider filing shows purchases and an option exercise increasing reported holdings. Eric W. Roberts reported purchases of 1,000 shares on 08/19/2025 at $2.79 and 2,000 shares on 08/20/2025 at $2.72. He also exercised an employee stock option for 15,000 shares at an exercise price of $1.53 on 08/20/2025.

The filing lists multiple custodial and indirect holdings across Roth IRA accounts and several Valence Investments SPVs, and shows 57,750 derivative securities reported as beneficially owned following the transactions.

Insights

Securities Analyst

TL;DR: Insider purchases and option exercise increased reported holdings; transactions are modest relative to institutional stakes.

The filing documents small open-market purchases totaling 3,000 shares at prices between $1.53 and $2.79 and the exercise of 15,000 employee options at $1.53. The report differentiates direct and indirect holdings across custodial accounts and several SPV entities, and shows 57,750 derivative securities owned after the exercise. For investors, this is a clear disclosure of ownership changes by a director and 10% owner, but the filing contains no operating or financial results.

Corporate Governance Expert

TL;DR: Filing complies with Section 16 disclosure, showing purchases and an exercisable option; ownership structure is diversified across accounts.

The statement indicates timely reporting of purchases on 08/19/2025 and 08/20/2025 and an immediate exercise of options that are "immediately exercisable" per the explanation. Holdings are reported as both direct and indirect, including custodial Roth IRAs and multiple Valence Investments SPVs, which is relevant for understanding control and beneficial ownership. The filing contains signature and attorney-in-fact certification, meeting procedural requirements.

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)
08/19/2025

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	08/19/2025		P		1,000	A	$2.79	55,399	I	By FMTC Custodian - Roth IRA FBO Eric W. Roberts
Common Stock	08/20/2025		P		2,000	A	$2.72	57,399	I	By FMTC Custodian - Roth IRA FBO Eric W. Roberts
Common Stock	08/20/2025		M		15,000	A	$1.53	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
Employee Stock Option (Right to Buy)	$1.53	08/20/2025		M			15,000	(1)	04/22/2035	Common Stock	15,000	$1.53	57,750	D

Explanation of Responses:

1. Immediately exercisable.

	/s/ John Dunn, Esq., Attorney-in-Fact	08/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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