[Form 4] CalciMedica, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CalciMedica (CALC) Form 4: CEO, Director and 10% owner Rachel A. Leheny reported an open-market purchase on 07/21/2025. Through the Scheibler-Leheny Family Living Trust she bought 1,000 common shares at $3.40 (transaction code P), raising the trust’s stake to 3,500 shares.

After the transaction Leheny’s total reported beneficial ownership equals:

• 130,926 shares held directly
• 3,500 via family trust
• 1,000 by spouse
• 356,989 via Valence Investments SPV IV
• 66,228 via Valence Investments SPV V
• 316,109 via Valence Investments SPV VI

This aggregates to roughly 875k shares, reaffirming significant insider alignment. No derivative transactions were reported.

Positive

• CEO/10% owner purchased shares, indicating incremental insider confidence and alignment.

Negative

• None.

Insights

Senior Equity Analyst

TL;DR: CEO bought 1k shares at $3.40, small size but reinforces insider confidence; modestly positive signal.

The purchase is immaterial in size (<$4k) relative to Leheny’s existing ~875k-share position, yet any acquisition by a CEO who is already a 10% holder suggests continued belief in CALC’s prospects. No sales or derivative exercises accompanied the trade, so the directional signal is clean. While unlikely to move the valuation by itself, such activity can support sentiment for small-cap biotech investors monitoring insider alignment.

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^*

Leheny A. Rachel

(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 EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2025

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	07/21/2025		P		1,000	A	$3.4	3,500	I	By Scheibler-Leheny Family Living Trust
Common Stock								130,926	D
Common Stock								1,000	I	By Spouse
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, Attorney-in-Fact	07/21/2025
	** 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 CEO Rachel Leheny buy on 07/21/2025?

She bought 1,000 common shares at $3.40 through her family trust.

What is Rachel Leheny’s total reported ownership in CalciMedica after the trade?

Her filings list roughly 875,000 shares across direct, trust, spouse and SPV holdings.

Was the Form 4 transaction a purchase or a sale?

It was a purchase (transaction code P) of common stock.

Did the Form 4 include any option or warrant activity?

No; Table II shows no derivative securities acquired or disposed.

Why is insider buying considered positive for CALC investors?

Purchases by senior insiders often signal confidence in the company’s outlook and align management’s interests with shareholders.