Carlsmed COO Jeffrey Bertolini sells 747 shares

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

Jeffrey Bertolini sold 747 shares at $14.3900 per share on October 5, 2026. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 12, 2026.

Q: How many CARL options did Jeffrey Bertolini exercise?

Jeffrey Bertolini exercised options covering 747 shares of common stock at an exercise price of $5.9150 per share on October 5, 2026. The derivative transaction reports 21,655 shares underlying options following the exercise.

The option schedule provided for the remaining 75% of original shares to vest in 1/36th installments monthly, subject to continued service.

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Rhea-AI Filing Summary

CARLSMED, INC. (CARL) Chief Operating Officer Jeffrey Bertolini exercised options covering 747 shares at $5.9150 per share on October 5, 2026, acquired 747 common shares, and sold 747 shares at $14.3900 per share that day. The sale was effected under a Rule 10b5-1 trading plan adopted March 12, 2026. The derivative transaction reports 21,655 option shares following the exercise, with an expiration date of April 9, 2035.

Insider Trade Summary 10b5-1

Exercise and Sale: 747 shares ($6K 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 $6K

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	$14.39	$11K

Holdings After Transaction: Stock Option (Right to Buy) — 21,655 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

Shares under options exercised: 747 shares Exercise price: $5.9150 per share Common shares acquired: 747 shares +4 more

7 metrics

Shares under options exercised 747 shares October 5, 2026

Exercise price $5.9150 per share Options exercised October 5, 2026

Common shares acquired 747 shares Through the option exercise on October 5, 2026

Shares sold 747 shares October 5, 2026

Sale price $14.3900 per share Sale on October 5, 2026

Shares underlying options following transaction 21,655 shares Reported following the October 5, 2026 derivative transaction

Option expiration date April 9, 2035 Stock option reported in the transaction

Key Terms

Rule 10b5-1 trading plan, Stock Option (Right to Buy), 1/36th installments

3 terms

Rule 10b5-1 trading plan financial

"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)"

1/36th installments financial

"will vest in 1/36th installments on a monthly basis"

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 shares at $14.3900 per share on October 5, 2026. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 12, 2026.

How many CARL options did Jeffrey Bertolini exercise?

Jeffrey Bertolini exercised options covering 747 shares of common stock at an exercise price of $5.9150 per share on October 5, 2026. The derivative transaction reports 21,655 shares underlying options following the exercise.

What was the vesting schedule for Jeffrey Bertolini’s CARL options?

25% of the original shares subject to the option vested on March 3, 2026; the remaining 75% will vest in 1/36th installments monthly thereafter, subject to continued service through each vesting date.

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

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Available on EDGAR 10/06/2026 - 04:59 PM Accepted by SEC EDGAR 10/06/2026 - 04:59 PM

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)
10/05/2026

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	10/05/2026		M		747	A	$5.915	23,236	D
Common Stock	10/05/2026		S⁽¹⁾		747	D	$14.39	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	10/05/2026		M			747	⁽²⁾	04/09/2035	Common Stock	747	$0	21,655	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.

	/s/ Michael Cordonnier, as attorney-in-fact for Jeffrey Bertolini	10/06/2026
	** 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