[Form 4] CARLSMED, INC. Insider Trading Activity

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

CARLSMED, INC. director Kevin C. O’Boyle received a grant of 13,698 shares of Common Stock as a stock award with no cash price per share. Following this grant, he directly holds 31,031 common shares. The award is structured as restricted stock units that each convert into one share upon vesting. These RSUs vest in full on the earlier of the day before Carlsmed’s 2027 annual meeting of stockholders or June 3, 2027, contingent on his continued service on the Board of Directors through that date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider OBOYLE KEVIN C

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	13,698	$0.00	--

Holdings After Transaction: Common Stock — 31,031 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs granted: 13,698 shares Grant price per share: $0.00 per share Shares held after grant: 31,031 shares +2 more

5 metrics

RSUs granted 13,698 shares Restricted stock unit award on June 3, 2026

Grant price per share $0.00 per share Equity compensation, non-cash award

Shares held after grant 31,031 shares Direct common stock holdings after transaction

RSU vesting date Earlier of day before 2027 annual meeting or June 3, 2027 Vesting condition for the RSU award

Reporting person role Director Board member receiving equity compensation

Key Terms

restricted stock units ("RSUs"), vesting, Board of Directors, annual meeting of stockholders

4 terms

restricted stock units ("RSUs") financial

"Constitutes an award of restricted stock units ("RSUs") for which the Reporting Person is entitled"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

vesting financial

"for each RSU upon vesting. The RSUs will vest in full on the earlier of"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Board of Directors financial

"subject, in all cases, to the Reporting Person's continued service as a member of the Board of Directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

annual meeting of stockholders financial

"on the earlier of (i) the day before the Issuer's 2027 annual meeting of stockholders or (ii) June 3, 2027"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/22/2026 - 06:14 AM Accepted by SEC EDGAR 06/22/2026 - 06:13 AM

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^*

OBOYLE KEVIN C

(Last)

(First)

(Middle)

C/O CARLSMED, INC.

1800 ASTON AVE., SUITE 100

(Street)

CARLSBAD

CALIFORNIA

92008

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CARLSMED, INC. [ CARL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/03/2026		A		13,698⁽¹⁾	A	$0	31,031	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Constitutes an award of restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. The RSUs will vest in full on the earlier of (i) the day before the Issuer's 2027 annual meeting of stockholders or (ii) June 3, 2027, subject, in all cases, to the Reporting Person's continued service as a member of the Board of Directors through such vesting date.

	/s/ Leonard Greenstein, as attorney-in-fact for Kevin O'Boyle	06/22/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Carlsmed (CARL) director Kevin C. O’Boyle report in this Form 4?

Kevin C. O’Boyle reported receiving a grant of 13,698 restricted stock units of Carlsmed common stock. The award was granted at no cash cost and is part of his equity compensation as a member of the Board of Directors.

How many Carlsmed (CARL) shares does Kevin C. O’Boyle hold after this transaction?

After the reported grant, Kevin C. O’Boyle directly holds 31,031 shares of Carlsmed common stock. This total reflects his position immediately following the award of 13,698 restricted stock units reported in the Form 4 filing.

When do Kevin C. O’Boyle’s Carlsmed (CARL) RSUs from this grant vest?

The restricted stock units vest in full on the earlier of the day before Carlsmed’s 2027 annual meeting of stockholders or June 3, 2027. Vesting is conditioned on his continued service as a member of the Board of Directors through that vesting date.

What is the economic cost to Kevin C. O’Boyle for this Carlsmed (CARL) stock grant?

The reported grant of 13,698 restricted stock units has a stated price of $0.00 per share in the Form 4. This indicates it is a compensation-related award rather than an open-market purchase requiring cash payment from the director.

What type of security did Kevin C. O’Boyle receive from Carlsmed (CARL)?

He received an award of restricted stock units, each convertible into one share of Carlsmed common stock upon vesting. These RSUs are equity compensation, subject to vesting conditions tied to his continued Board service until the specified date.