CalciMedica Insider Purchases Increase CMO Stake to 51,976 Shares

Rhea-AI Filing Summary

CalciMedica, Inc. (CALC) reporting person Hebbar Sudarshan, the company's Chief Medical Officer, purchased additional common stock in two transactions. On 08/14/2025 he acquired 1,584 shares at a weighted average price of $2.585, bringing his direct beneficial ownership to 47,584 shares. On 08/15/2025 he acquired 4,392 shares at a weighted average price of $2.793, increasing his direct ownership to 51,976 shares. The filing was signed by an attorney-in-fact on 08/18/2025. The filing includes price ranges for the trades and notes that detailed per-price purchase counts are available on request.

Positive

• Insider increased direct ownership by a net 5,976 shares across two purchases
• Transactions fully disclosed with weighted average prices and post-trade ownership counts
• Price ranges provided and issuer offered to supply per-price purchase detail on request

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchases increased the reporting person’s stake by 4,392 shares, reflecting additional direct ownership rather than disposals.

The Form 4 discloses two open-market purchases by the Chief Medical Officer totaling 5,976 shares over two days at weighted average prices of $2.585 and $2.793. The filing provides the updated direct beneficial ownership counts after each trade and gives price ranges with a note that per-price share counts can be supplied on request. This is a routine Section 16 disclosure showing insider accumulation without any indicated transfers, derivative exercises, or dispositions.

Corporate Governance Expert

TL;DR: Disclosure is complete for reported transactions and follows required Form 4 format; signature executed by attorney-in-fact.

The submission conforms to Section 16 reporting norms: it lists the reporting person, relationship to the issuer (Chief Medical Officer), transaction dates, transaction codes, share amounts, weighted average prices, and post-transaction ownership levels. The explanatory footnotes supply price ranges and offer full per-price detail upon request, and the form bears an attorney-in-fact signature dated 08/18/2025. No amendments or additional arrangements are indicated in this filing.

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^*

Hebbar Sudarshan

(Last) (First) (Middle)

C/O CALCIMEDICA, INC.

505 COAST S. BLVD. #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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Medical Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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	08/14/2025		P		1,584	A	$2.585(1)	47,584	D
Common Stock	08/15/2025		P		4,392	A	$2.793(2)	51,976	D

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 $2.585, and the range of prices were between $2.57 and $2.61. 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.

2. The weighted average purchase price for the transaction reported was $2.7930, and the range of prices were between $2.70 and $2.85. 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	08/18/2025
	** 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 Hebbar Sudarshan purchase according to the Form 4 for CALC?

The filing reports purchases of 1,584 shares on 08/14/2025 and 4,392 shares on 08/15/2025 of CalciMedica common stock.

At what prices were the CALC shares purchased in the Form 4?

The weighted average purchase prices were $2.585 for the 08/14/2025 trade and $2.793 for the 08/15/2025 trade; price ranges are provided in the filing.

How many CALC shares does the reporting person own after these transactions?

Following the 08/14/2025 trade the reporting person owned 47,584 shares and after the 08/15/2025 trade owned 51,976 shares, reported as direct beneficial ownership.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by John Dunn, Esq., Attorney-in-Fact on 08/18/2025.

Does the filing provide per-price share counts for the purchases?

The filing states the weighted averages and price ranges and notes that full information regarding the number of shares purchased at each separate price will be provided upon request.