[144] Carisma Therapeutics Inc. SEC Filing

Rhea-AI Filing Summary

Carisma Therapeutics, Inc. (CARM) filed a Form 144 notifying a proposed sale under Rule 144 of 56,982 common shares held by an insider who acquired the shares via an option grant on 10/22/2018. The filing lists the intended broker as Morgan Stanley Smith Barney LLC and an approximate sale date of 10/07/2025, with an aggregate market value shown as 14182.82. The filer indicates payment for the shares will be treated as compensation and notes no undisclosed material adverse information. The filing also discloses a prior sale by Michael Klichinsky of 484,347 shares on 10/03/2025 for gross proceeds of 124342.96.

Positive

• Sale filed under Rule 144, indicating regulatory compliance with restricted-share resale rules
• Broker identified (Morgan Stanley Smith Barney LLC), supporting an orderly transaction process

Negative

• Large insider sale disclosed recently: 484,347 shares sold on 10/03/2025 for 124,342.96, which may increase share supply
• Low aggregate market value listed for the proposed sale (14182.82) relative to the prior sale proceeds, suggesting pricing/valuation dispersion

Insights

Insider Transactions Analyst

TL;DR: An insider plans a Rule 144 sale of 56,982 shares after exercising options; a recent large sale by a named insider is disclosed.

The notice shows the shares were acquired in an option grant on 10/22/2018 and are being sold through Morgan Stanley Smith Barney LLC with an intended sale date of 10/07/2025. The filing records the nature of payment as compensation, indicating these are likely company-issued stock options rather than open-market purchases.

Disclosure of a prior sale of 484,347 shares on 10/03/2025 for 124,342.96 is material to liquidity and insider selling activity; monitor subsequent Form 4s or additional Rule 144 notices within the next few weeks for further insider disposition.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	56982	14182.82	41788096	10/07/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/22/2018	Option Grant	Issuer			56982	10/06/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Michael Klichinsky 3675 MARKET STREET PHILADELPHIA PA 19104	Common Stock	10/03/2025	484347	124342.96

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Carisma Therapeutics' Form 144 mean for CARM shareholders?

The Form 144 notifies a proposed insider sale of 56,982 shares under Rule 144 with an approximate sale date of 10/07/2025; it signals an insider intends to resell restricted shares through an identified broker.

Who is handling the proposed sale in the CARM Form 144?

The filing names Morgan Stanley Smith Barney LLC as the broker for the proposed sale.

When were the shares being sold acquired according to the Form 144?

The shares were acquired via an option grant on 10/22/2018, per the filing.

Has any insider recently sold Carisma (CARM) shares?

Yes, the filing discloses that Michael Klichinsky sold 484,347 shares on 10/03/2025 for gross proceeds of 124,342.96.

What payment method is listed for the exercised options in this Form 144?

The Form 144 lists the nature of payment as compensation for the securities being sold.