[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica, Inc. (CALC) – Form 4 insider filing

On 24 June 2025, President & COO Michael J. Dunn was granted 47,125 employee stock options with an exercise price of $1.53 per share. The award becomes immediately exercisable and will expire on 22 April 2035.

The option grant had been approved by the Board on 23 April 2025 subject to stockholder approval of amendments to the company’s 2023 Equity Incentive Plan; shareholders ratified the amendment on the same date as the grant (24 June 2025). Following the transaction, Mr. Dunn now beneficially owns 47,125 derivative securities (stock options) directly.

No open-market purchases or sales of common shares were reported, so the filing represents incentive-based compensation rather than a change in Mr. Dunn’s outright share ownership.

Positive

• Executive incentive alignment: President & COO granted 47,125 options at a fixed $1.53 strike, immediately exercisable, linking compensation to future share appreciation.

Negative

• None.

Insights

Corporate Governance Analyst

TL;DR: Executive received 47k immediately-exercisable options at $1.53; signals incentive alignment, no sale pressure—overall neutral impact.

The Form 4 discloses a single transaction: an at-the-money option grant to President & COO Michael J. Dunn. Because the award was approved conditionally in April and became effective only once shareholders amended the 2023 EIP on 24 June, the filing documents the technical issuance rather than any market transaction. The options are immediately exercisable, providing flexibility but also tying value directly to future share performance. With 47,125 options, the potential dilution is immaterial for most cap-table analyses, and no cash changed hands. Therefore, from an investor standpoint the disclosure is routine incentive compensation—neither materially accretive nor dilutive in the near term. Impact: neutral.

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).

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^*

Dunn Michael J.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and COO

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
Employee Stock Option (Right to Buy)	$1.53	06/24/2025(1)		A		47,125		(2)	04/22/2035	Common Stock	47,125	$0	47,125	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. Immediately exercisable.

	/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

What did CalciMedica (CALC) report in the latest Form 4?

The company disclosed a grant of 47,125 stock options to President & COO Michael J. Dunn on 24 June 2025.

At what price can the new CALC options be exercised?

The options carry an exercise price of $1.53 per share.

When do the granted options to Michael J. Dunn expire?

The options have an expiration date of 22 April 2035.

Are the options immediately exercisable or subject to vesting?

According to the filing, the options are immediately exercisable.

Did the Form 4 report any sale of CalciMedica common stock?

No. The filing lists only an option grant; no purchases or sales of common shares were disclosed.