Carlsmed COO granted options on 50,000 shares

CARLSMED’s chief operating officer was granted 50,000 stock options at a $15.23 exercise price with long-term, service-based vesting.

Rhea-AI Filing Summary

CARLSMED, INC. (CARL) reported that Chief Operating Officer Jeffrey Bertolini received a grant of stock options for 50,000 shares of common stock on September 8, 2026. The options have an exercise price of $15.23 per share, expire on September 7, 2036, and vest starting after a one-year cliff from September 8, 2026, then in equal quarterly installments while he remains in service. No Rule 10b5-1 trading plan is reported for this grant.

Insider Trade Summary

Grant/Award: 50,000 shares

Grant/Award 1 txn

Insider Bertolini Jeffrey

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy) F1	50,000	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 50,000 contracts (Direct)

Footnotes (1)

1. F1. Includes 50,000 stock options exercisable into approximately 50,000 shares of the Issuer's common stock, which began to vest on September 8, 2026, subject to a one year cliff, and shall vest in equal installments on each quarterly anniversary thereafter, subject to the Reporting Person's continued service through each such vesting date.

Key Figures

Options granted: 50,000 options Exercise price: $15.23 per share Underlying shares: 50,000 shares +3 more

6 metrics

Options granted 50,000 options Stock Option (Right to Buy) grant to COO on September 8, 2026

Exercise price $15.23 per share Conversion or exercise price of the stock options

Underlying shares 50,000 shares Common stock underlying the granted stock options

Total derivative holdings after grant 50,000 options Total stock options held directly by the reporting person after this transaction

Option expiration date September 7, 2036 Expiration date of the granted stock options

Vesting start date September 8, 2026 Date vesting began, with a one-year cliff and quarterly vesting thereafter

Key Terms

Stock Option (Right to Buy), exercise price, vesting, cliff

4 terms

Stock Option (Right to Buy) financial

"Security titled "Stock Option (Right to Buy)" was granted"

exercise price financial

"The options have an exercise price of $15.23 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"which began to vest on September 8, 2026, subject to a one year cliff"

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.

cliff financial

"subject to a one year cliff, and shall vest in equal installments"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did CARLSMED (CARL) disclose about Jeffrey Bertolini in this Form 4?

CARLSMED disclosed that Chief Operating Officer Jeffrey Bertolini received a grant of 50,000 stock options on September 8, 2026, exercisable for common stock at an exercise price of $15.23 per share, expiring on September 7, 2036, subject to service-based vesting.

What is the exercise price of the new stock options granted to CARL’s COO?

The new stock options granted to CARLSMED’s COO Jeffrey Bertolini have an exercise price of $15.23 per share. These options are a right to buy common stock at that price until their stated expiration date in 2036, subject to the vesting schedule described.

How many CARL shares underlie the stock options granted to Jeffrey Bertolini?

The grant covers stock options exercisable into approximately 50,000 shares of CARLSMED’s common stock. The Form 4 states that the options are exercisable into approximately 50,000 shares, matching the 50,000 option units granted in this award.

What is the vesting schedule for the CARL stock options granted to the COO?

The 50,000 stock options began to vest on September 8, 2026, with a one-year cliff, and then vest in equal installments on each quarterly anniversary thereafter, subject to Jeffrey Bertolini’s continued service through each vesting date.

When do the newly granted CARLSMED stock options expire?

The stock options granted to CARLSMED’s COO on September 8, 2026 expire on September 7, 2036. Until that expiration date, they may be exercised for common stock once vested, consistent with the service-based vesting schedule described in the footnote.

Were the CARL COO’s option grants made under a Rule 10b5-1 trading plan?

The Form 4 indicates that no Rule 10b5-1 trading plan is reported for this transaction. The document-level 10b5-1 checkbox is marked as not affirming such a plan in connection with the reported stock option grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/10/2026 - 06:39 PM Accepted by SEC EDGAR 09/10/2026 - 06:38 PM Learn about SEC filing dates

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^*

Bertolini Jeffrey

(Last) (First) (Middle)

1800 ASTON AVENUE

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2026

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)
			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
Stock Option (Right to Buy)	$15.23	09/08/2026		A		50,000		(1)	09/07/2036	Common Stock	50,000	$0	50,000	D

Explanation of Responses:

1. Includes 50,000 stock options exercisable into approximately 50,000 shares of the Issuer's common stock, which began to vest on September 8, 2026, subject to a one year cliff, and shall vest in equal installments on each quarterly anniversary thereafter, subject to the Reporting Person's continued service through each such vesting date.

	/s/ Leonard Greenstein, as attorney-in-fact for Jeffrey Bertolini	09/10/2026
	** 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)