[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica insider activity: Eric W. Roberts, identified as Chief Business Officer, Director and 10% owner, reported transactions on 09/15/2025. The Form 4 shows an open-market purchase of 3,400 shares at a weighted average price of $2.6779 (price range $2.65–$2.70). The filing also records a disposition of 179,706 shares and multiple indirect holdings reported through custodians and affiliated SPVs, including positions held by FMTC Custodian (81,650), Oppenheimer (49,894), IRA Financial Trust (10,661) and several Valence Investments SPVs (356,989; 66,228; 316,109). The explanation clarifies the weighted average purchase price and offers to provide per-price purchase breakdowns on request.

Insights

Financial Analyst

TL;DR: Large insider disposition with a small simultaneous purchase suggests material selling pressure despite a minor buy.

The filing records a substantial 179,706-share disposition alongside a modest purchase of 3,400 shares at $2.6779. For investors, the net effect is a meaningful reduction in directly held shares by a senior insider and 10% owner, which can be interpreted as increased supply from an influential holder. The purchase at the reported average price appears immaterial relative to the magnitude of the disposition. Impact on market price depends on total float and recent trading volume; the filing itself does not provide those figures.

Corporate Governance Expert

TL;DR: Reporting is compliant and detailed; indirect holdings are disclosed via custodians and SPVs.

The Form 4 discloses both direct and indirect beneficial ownership across custodial and SPV structures, which aligns with Section 16 disclosure norms. The filer provides an explanatory note about the weighted average purchase price and offers further breakdowns if requested by the SEC or shareholders. The filing is explicit about roles (Director, Chief Business Officer, 10% owner) and shows required signatures, indicating procedural completeness. The filing alone does not explain the rationale for the large disposition.

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).

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)
09/15/2025

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	09/15/2025		P		3,400	A	$2.6779(1)	81,650	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 $2.6779, and the range of prices were between $2.65 and $2.70. 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	09/17/2025
	** 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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