Carlsmed COO Jeffrey Bertolini sells 747 shares

Q: How many CARL shares did Jeffrey Bertolini sell, and at what price?

Jeffrey Bertolini sold 747 common shares at $15.15 per share on November 3, 2026. The sale was effected under a Rule 10b5-1 trading plan adopted March 12, 2026.

Q: How many CARL stock options did Jeffrey Bertolini exercise?

He exercised 747 stock options at $5.915 per share on November 3, 2026, acquiring 747 common shares. The reported stock-option position after the exercise was 20,908 shares.

The sale was made under a Rule 10b5-1 plan adopted March 12, 2026, while the reported option position after exercise was 20,908 shares.

Available on EDGAR 11/04/2026 - 04:40 PM EST Accepted by SEC EDGAR 11/04/2026 - 04:40 PM EST

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Rhea-AI Filing Summary

Carlsmed, Inc. (CARL) Chief Operating Officer Jeffrey Bertolini exercised 747 stock options at $5.915 per share on November 3, 2026, acquiring 747 common shares and then selling 747 common shares at $15.15 per share. The sale was effected under a Rule 10b5-1 trading plan adopted March 12, 2026. The reported stock-option position after the exercise was 20,908 shares.

Insider Trade Summary 10b5-1

Exercise and Sale: 747 shares ($7K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Bertolini Jeffrey

Role Chief Operating Officer

Sold 747 shs ($11K)

Approx. gross sale proceeds $11K

Approx. exercise cost $4K

Approx. pre-tax spread $7K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) ^F2	747	$0.00	$0.00
Exercise	Common Stock	747	$5.915	$4K
Sale	Common Stock ^F1	747	$15.15	$11K

Holdings After Transaction: Stock Option (Right to Buy) — 20,908 contracts (Direct); Common Stock — 22,489 shares (Direct)

Footnotes (2)

F1. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026.
F2. 25% of the original number of shares subject to the stock option vested on March 3, 2026, and the remaining 75% of the original number of shares subject to the stock option will vest in 1/36th installments on a monthly basis thereafter, subject to the Reporting Person's continued service through each such vesting date.

Key Figures

Stock options exercised: 747 shares Exercise price: $5.915 per share Common shares acquired: 747 shares +3 more

6 metrics

Stock options exercised 747 shares November 3, 2026

Exercise price $5.915 per share November 3, 2026 option exercise

Common shares acquired 747 shares November 3, 2026 option exercise

Common shares sold 747 shares November 3, 2026

Sale price $15.15 per share November 3, 2026

Stock-option position after exercise 20,908 shares Reported following the November 3, 2026 exercise

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy), vested

3 terms

Rule 10b5-1 trading plan regulatory

"sales ... pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy)"

vested financial

"shares subject to the stock option vested on March 3, 2026"

FAQ

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

How many CARL shares did Jeffrey Bertolini sell, and at what price?

Jeffrey Bertolini sold 747 common shares at $15.15 per share on November 3, 2026. The sale was effected under a Rule 10b5-1 trading plan adopted March 12, 2026.

How many CARL stock options did Jeffrey Bertolini exercise?

He exercised 747 stock options at $5.915 per share on November 3, 2026, acquiring 747 common shares. The reported stock-option position after the exercise was 20,908 shares.

What were the vesting terms for Jeffrey Bertolini's CARL stock options?

The original option shares vested 25% on March 3, 2026. The remaining 75% were to vest in 1/36th installments monthly thereafter, subject to Jeffrey Bertolini's continued service through each vesting date.

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

Form 4 Insider Transactions: What Each Field Means →

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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)
11/03/2026

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	11/03/2026		M		747	A	$5.915	23,236	D
Common Stock	11/03/2026		S⁽¹⁾		747	D	$15.15	22,489	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)
Stock Option (Right to Buy)	$5.915	11/03/2026		M			747	⁽²⁾	04/09/2035	Common Stock	747	$0	20,908	D

Explanation of Responses:

1. The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026.

2. 25% of the original number of shares subject to the stock option vested on March 3, 2026, and the remaining 75% of the original number of shares subject to the stock option will vest in 1/36th installments on a monthly basis thereafter, subject to the Reporting Person's continued service through each such vesting date.

	Michael Cordonnier, as attorney-in-fact for Jeffrey Bertolini	11/04/2026
	** 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